Rothschild Asset Management Inc. Purchases 808 Shares of L Brands, Inc. (NYSE:LB)
Rothschild Asset Management Inc. boosted its position in L Brands, Inc. (NYSE:LB) by 6.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,938 shares of the specialty retailer’s stock after buying an additional 808 shares during the period. Rothschild Asset Management Inc.’s holdings in L Brands were worth $697,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. DnB Asset Management AS boosted its position in shares of L Brands by 18.1% in the first quarter. DnB Asset Management AS now owns 27,459 shares of the specialty retailer’s stock valued at $1,293,000 after buying an additional 4,200 shares during the period. Gateway Investment Advisers LLC boosted its position in shares of L Brands by 10.0% in the first quarter. Gateway Investment Advisers LLC now owns 221,500 shares of the specialty retailer’s stock valued at $10,433,000 after buying an additional 20,134 shares during the period. Heritage Investors Management Corp boosted its position in shares of L Brands by 17.5% in the first quarter. Heritage Investors Management Corp now owns 146,953 shares of the specialty retailer’s stock valued at $6,921,000 after buying an additional 21,835 shares during the period. Financial & Investment Management Group Ltd. bought a new position in shares of L Brands during the first quarter valued at $2,678,000. Finally, Skylands Capital LLC boosted its position in shares of L Brands by 51.4% in the first quarter. Skylands Capital LLC now owns 96,825 shares of the specialty retailer’s stock valued at $4,560,000 after buying an additional 32,875 shares during the period. Institutional investors own 75.43% of the company’s stock.
L Brands, Inc. (NYSE:LB) opened at 41.24 on Friday. The firm’s 50-day moving average price is $46.97 and its 200-day moving average price is $50.79. The stock has a market cap of $11.83 billion, a price-to-earnings ratio of 10.86 and a beta of 0.62. L Brands, Inc. has a 12-month low of $41.22 and a 12-month high of $79.67.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, equities analysts predict that L Brands, Inc. will post $3.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Wednesday, August 16th. L Brands’s payout ratio is 63.16%.
Several equities analysts have weighed in on LB shares. Deutsche Bank AG dropped their price objective on L Brands from $62.00 to $61.00 and set a “buy” rating on the stock in a research note on Monday, May 15th. Vetr upgraded L Brands from a “hold” rating to a “buy” rating and set a $53.02 price objective on the stock in a research note on Thursday, May 11th. Oppenheimer Holdings, Inc. set a $62.00 price objective on L Brands and gave the company a “buy” rating in a research note on Thursday, May 4th. Buckingham Research restated a “buy” rating on shares of L Brands in a research note on Wednesday, April 26th. Finally, FBR & Co set a $60.00 price objective on L Brands and gave the company a “buy” rating in a research note on Thursday, May 18th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $55.76.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the completion of the sale, the chief executive officer now owns 75,658 shares in the company, valued at $3,698,163.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 16.45% of the company’s stock.
L Brands Company 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.
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