Associated Banc Corp Invests $573,000 in L Brands Inc (LB)
Associated Banc Corp purchased a new stake in shares of L Brands Inc (NYSE:LB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 9,515 shares of the specialty retailer’s stock, valued at approximately $573,000.
Several other institutional investors also recently made changes to their positions in LB. Victory Capital Management Inc. grew its holdings in shares of L Brands by 1,045.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,091,745 shares of the specialty retailer’s stock valued at $65,745,000 after purchasing an additional 996,468 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of L Brands by 328.4% during the 3rd quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock valued at $51,615,000 after purchasing an additional 950,859 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of L Brands by 29.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after purchasing an additional 935,259 shares during the last quarter. Flossbach Von Storch AG grew its holdings in shares of L Brands by 81.2% during the 3rd quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock valued at $85,468,000 after purchasing an additional 920,710 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of L Brands during the 4th quarter valued at approximately $50,451,000. 78.48% of the stock is currently owned by institutional investors.
L Brands Inc (NYSE:LB) opened at $48.54 on Wednesday. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45. L Brands Inc has a 1-year low of $35.00 and a 1-year high of $63.10. The firm has a market cap of $13,700.00, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.25 and a beta of 0.61.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.40 annualized dividend and a yield of 4.94%. L Brands’s payout ratio is 73.17%.
In other L Brands news, Director David T. Kollat acquired 9,910 shares of the stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the acquisition, the director now owns 158,878 shares in the company, valued at approximately $7,997,918.52. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 16.68% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Robert W. Baird reissued a “hold” rating and set a $60.00 target price on shares of L Brands in a report on Friday, December 22nd. BMO Capital Markets set a $56.00 target price on shares of L Brands and gave the stock a “hold” rating in a report on Tuesday, December 19th. Telsey Advisory Group boosted their target price on shares of L Brands from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, January 2nd. Morgan Stanley reissued an “overweight” rating and set a $70.00 target price on shares of L Brands in a report on Thursday, December 14th. Finally, CIBC reissued a “hold” rating and set a $60.00 target price on shares of L Brands in a report on Friday, December 8th. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.30.
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About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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