Calton & Associates Inc. Buys New Holdings in L Brands Inc (LB)
Calton & Associates Inc. bought a new position in L Brands Inc (NYSE:LB) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,156 shares of the specialty retailer’s stock, valued at approximately $273,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans boosted its holdings in L Brands by 3.5% in the second quarter. Thrivent Financial For Lutherans now owns 9,154 shares of the specialty retailer’s stock worth $493,000 after acquiring an additional 310 shares in the last quarter. Rikoon Group LLC boosted its holdings in L Brands by 5.3% in the second quarter. Rikoon Group LLC now owns 24,697 shares of the specialty retailer’s stock worth $1,330,000 after acquiring an additional 1,250 shares in the last quarter. Hartford Investment Management Co. boosted its holdings in L Brands by 1.5% in the third quarter. Hartford Investment Management Co. now owns 84,019 shares of the specialty retailer’s stock worth $3,496,000 after acquiring an additional 1,271 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in L Brands by 3.9% in the third quarter. Hennessy Advisors Inc. now owns 34,500 shares of the specialty retailer’s stock worth $1,436,000 after acquiring an additional 1,300 shares in the last quarter. Finally, JNBA Financial Advisors boosted its holdings in L Brands by 25.7% in the third quarter. JNBA Financial Advisors now owns 6,350 shares of the specialty retailer’s stock worth $264,000 after acquiring an additional 1,300 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.
LB has been the topic of several analyst reports. BMO Capital Markets set a $56.00 target price on L Brands and gave the stock a “hold” rating in a report on Tuesday, December 19th. Morgan Stanley restated an “overweight” rating and issued a $70.00 price target on shares of L Brands in a research note on Thursday, December 14th. Royal Bank of Canada upgraded L Brands from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $40.00 to $58.00 in a research note on Friday, November 17th. B. Riley set a $58.00 price target on L Brands and gave the stock a “buy” rating in a research note on Thursday, November 16th. Finally, Robert W. Baird set a $60.00 price target on L Brands and gave the stock a “hold” rating in a research note on Thursday, December 28th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $52.16.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.57 billion. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. research analysts forecast that L Brands Inc will post 3.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.02%. L Brands’s dividend payout ratio (DPR) is 73.17%.
In other L Brands news, Director David T. Kollat acquired 9,910 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was purchased at an average price of $50.34 per share, with a total value of $498,869.40. Following the completion of the purchase, the director now directly owns 158,878 shares in the company, valued at approximately $7,997,918.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.68% of the company’s stock.
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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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