Aperio Group LLC Increases Stake in L Brands Inc (LB)
Aperio Group LLC grew its stake in shares of L Brands Inc (NYSE:LB) by 7.4% during the second quarter, HoldingsChannel reports. The firm owned 81,626 shares of the specialty retailer’s stock after purchasing an additional 5,613 shares during the quarter. Aperio Group LLC’s holdings in L Brands were worth $3,010,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Piedmont Investment Advisors LLC bought a new stake in shares of L Brands during the 2nd quarter valued at about $104,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of L Brands during the 1st quarter valued at about $117,000. Camarda Financial Advisors LLC bought a new stake in shares of L Brands during the 1st quarter valued at about $131,000. IBM Retirement Fund boosted its stake in shares of L Brands by 46.8% during the 1st quarter. IBM Retirement Fund now owns 5,279 shares of the specialty retailer’s stock valued at $202,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Norway Savings Bank bought a new stake in shares of L Brands during the 2nd quarter valued at about $221,000. 75.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of L Brands stock opened at $32.55 on Friday. The company has a debt-to-equity ratio of -5.90, a current ratio of 1.56 and a quick ratio of 0.83. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.98 and a beta of 0.58. L Brands Inc has a 52-week low of $30.42 and a 52-week high of $63.10.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Friday, August 24th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $2.40 annualized dividend and a yield of 7.37%. L Brands’s dividend payout ratio (DPR) is presently 75.00%.
Several equities research analysts recently commented on LB shares. Morgan Stanley boosted their price objective on shares of L Brands from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 25th. Citigroup raised shares of L Brands from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Monday, May 14th. They noted that the move was a valuation call. Royal Bank of Canada dropped their price objective on shares of L Brands to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 26th. Piper Jaffray Companies reissued a “neutral” rating and set a $30.00 price objective on shares of L Brands in a research note on Thursday, May 24th. Finally, Zacks Investment Research raised shares of L Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. L Brands presently has a consensus rating of “Hold” and an average price target of $41.89.
In other L Brands news, Director Donna James sold 1,000 shares of L Brands stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $35.29, for a total value of $35,290.00. Following the completion of the transaction, the director now directly owns 19,738 shares of the company’s stock, valued at $696,554.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.32% of the stock is currently owned by insiders.
About L Brands
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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