Teacher Retirement System of Texas Sells 93 Shares of L Brands, Inc. (NYSE:LB)
Teacher Retirement System of Texas reduced its stake in shares of L Brands, Inc. (NYSE:LB) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 131,318 shares of the specialty retailer’s stock after selling 93 shares during the period. Teacher Retirement System of Texas’ holdings in L Brands were worth $7,077,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of LB. Teachers Advisors LLC raised its position in shares of L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock valued at $19,647,000 after buying an additional 18,142 shares during the period. Gulf International Bank UK Ltd raised its position in shares of L Brands by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 74,113 shares of the specialty retailer’s stock valued at $3,490,000 after buying an additional 900 shares during the period. National Pension Service raised its position in shares of L Brands by 28.3% in the first quarter. National Pension Service now owns 261,227 shares of the specialty retailer’s stock valued at $12,411,000 after buying an additional 57,596 shares during the period. Skylands Capital LLC raised 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. Finally, Financial & Investment Management Group Ltd. acquired a new position in shares of L Brands during the first quarter valued at about $2,678,000. 75.20% of the stock is currently owned by institutional investors.
Shares of L Brands, Inc. (NYSE LB) opened at 40.56 on Tuesday. The firm has a market capitalization of $11.63 billion, a P/E ratio of 10.68 and a beta of 0.62. L Brands, Inc. has a 12-month low of $40.49 and a 12-month high of $79.67. The stock has a 50 day moving average of $46.26 and a 200-day moving average of $50.34.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $0.59 EPS. L Brands’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts predict that L Brands, Inc. will post $3.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Wednesday, August 16th. L Brands’s dividend payout ratio is currently 63.16%.
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Several research analysts have recently issued reports on LB shares. Royal Bank Of Canada reaffirmed a “hold” rating on shares of L Brands in a research note on Tuesday, April 18th. Vetr lowered shares of L Brands from a “strong-buy” rating to a “buy” rating and set a $55.51 target price on the stock. in a research note on Monday, April 24th. Zacks Investment Research raised shares of L Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Buckingham Research reaffirmed a “buy” rating on shares of L Brands in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC set a $35.00 target price on shares of L Brands and gave the company a “sell” rating in a research note on Thursday, May 4th. Five research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company’s stock. L Brands currently has a consensus rating of “Hold” and an average target price of $55.76.
In related news, CEO Nicholas Coe sold 39,839 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 75,658 shares in the company, valued at approximately $3,698,163.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 16.45% of the stock is owned by company insiders.
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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