North Fourth Asset Management LP bought a new position in L Brands Inc (NYSE:LB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,000 shares of the specialty retailer’s stock, valued at approximately $1,475,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new stake in shares of L Brands in the second quarter worth about $104,000. Old Mutual Global Investors UK Ltd. bought a new stake in L Brands during the 1st quarter valued at approximately $117,000. Camarda Financial Advisors LLC bought a new stake in L Brands during the 1st quarter valued at approximately $131,000. IBM Retirement Fund boosted its position in 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 acquiring an additional 1,684 shares in the last quarter. Finally, Norway Savings Bank bought a new stake in L Brands during the 2nd quarter valued at approximately $221,000. 75.35% of the stock is currently owned by institutional investors.

In related news, Director Donna James sold 1,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $696,554.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.32% of the stock is owned by insiders.

Several research firms have weighed in on LB. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $30.00 price objective on shares of L Brands in a research report on Thursday, May 24th. Wedbush began coverage on L Brands in a research report on Friday, August 10th. They set a “neutral” rating and a $33.00 price objective on the stock. Barclays reaffirmed a “hold” rating and set a $40.00 price objective on shares of L Brands in a research report on Monday, April 30th. UBS Group began coverage on L Brands in a research report on Thursday, June 21st. They set a “neutral” rating and a $37.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on L Brands from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, August 10th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and an average target price of $41.89.

Shares of NYSE LB opened at $32.55 on Monday. L Brands Inc has a twelve month low of $30.42 and a twelve month high of $63.10. The company has a market capitalization of $8.66 billion, a P/E ratio of 10.17, a PEG ratio of 0.98 and a beta of 0.58. The company has a quick ratio of 0.83, a current ratio of 1.56 and a debt-to-equity ratio of -5.90.

L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 23rd. The specialty retailer reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. L Brands had a net margin of 7.30% and a negative return on equity of 93.09%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. sell-side analysts expect that L Brands Inc will post 2.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors 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 dividend on an annualized basis and a yield of 7.37%. L Brands’s payout ratio is currently 75.00%.

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.

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

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