Raymond James Financial Services Advisors Inc. increased its position in shares of L Brands, Inc. (NYSE:LB) by 524.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,767 shares of the specialty retailer’s stock after buying an additional 46,840 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in L Brands were worth $3,005,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norway Savings Bank boosted its position in L Brands by 0.5% during the second quarter. Norway Savings Bank now owns 10,345 shares of the specialty retailer’s stock worth $557,000 after purchasing an additional 50 shares during the period. M&T Bank Corp boosted its position in L Brands by 0.3% during the second quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock worth $925,000 after purchasing an additional 53 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in L Brands by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock worth $965,000 after purchasing an additional 83 shares during the period. Louisiana State Employees Retirement System boosted its position in L Brands by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock worth $803,000 after purchasing an additional 100 shares during the period. Finally, Financial Advisors Network Inc. boosted its position in L Brands by 2.8% during the second quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock worth $263,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 79.36% of the company’s stock.

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In other L Brands news, Director Allan R. Tessler purchased 20,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was purchased at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the transaction, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 16.68% of the company’s stock.

L Brands, Inc. (NYSE:LB) opened at 41.28 on Tuesday. L Brands, Inc. has a 52 week low of $35.00 and a 52 week high of $75.50. The firm’s 50-day moving average price is $39.87 and its 200 day moving average price is $45.85. The firm has a market cap of $11.72 billion, a P/E ratio of 12.12 and a beta of 0.67.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. Equities analysts forecast that L Brands, Inc. will post $3.13 earnings per share for the current fiscal year.

L Brands announced that its Board of Directors has initiated a share buyback plan on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

A number of equities analysts have commented on LB shares. Vetr raised shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 price objective for the company in a research report on Monday, June 19th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $55.00 price objective on shares of L Brands in a research report on Monday, June 19th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of L Brands in a research report on Tuesday, June 20th. FBR & Co set a $60.00 price objective on shares of L Brands and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $56.00 price objective on shares of L Brands in a research report on Tuesday, July 4th. Seven investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $46.41.

L Brands Profile

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.

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

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