California Public Employees Retirement System trimmed its position in shares of L Brands Inc (NYSE:LB) by 31.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 411,298 shares of the specialty retailer’s stock after selling 191,153 shares during the period. California Public Employees Retirement System’s holdings in L Brands were worth $11,344,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LB. DNB Asset Management AS raised its position in shares of L Brands by 9.9% during the 4th quarter. DNB Asset Management AS now owns 26,559 shares of the specialty retailer’s stock worth $682,000 after purchasing an additional 2,400 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of L Brands by 4.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,178 shares of the specialty retailer’s stock worth $261,000 after purchasing an additional 403 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in L Brands in the 4th quarter valued at $37,000. James Investment Research Inc. acquired a new position in L Brands in the 4th quarter valued at $963,000. Finally, Assenagon Asset Management S.A. acquired a new position in L Brands in the 4th quarter valued at $1,621,000. Hedge funds and other institutional investors own 71.24% of the company’s stock.

LB has been the subject of several analyst reports. Jefferies Financial Group cut their price target on L Brands from $21.00 to $16.00 in a report on Thursday, February 28th. Wells Fargo & Co set a $42.00 price target on L Brands and gave the company a “buy” rating in a report on Thursday, February 28th. B. Riley set a $41.00 price target on L Brands and gave the company a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research upgraded L Brands from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, February 5th. Finally, Odeon Capital Group initiated coverage on L Brands in a report on Friday, April 26th. They issued a “buy” rating for the company. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.35.

Shares of NYSE LB opened at $21.50 on Thursday. L Brands Inc has a 52-week low of $21.47 and a 52-week high of $38.14. The firm has a market cap of $6.17 billion, a PE ratio of 7.62, a P/E/G ratio of 0.87 and a beta of 0.51.

L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter. L Brands had a net margin of 4.86% and a negative return on equity of 73.73%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the company earned $0.17 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts predict that L Brands Inc will post 2.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.58%. L Brands’s dividend payout ratio is presently 42.55%.

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L Brands Profile

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.

Further Reading: What are Institutional Investors?

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Institutional Ownership by Quarter for L Brands (NYSE:LB)

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