Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of L Brands, Inc. (NYSE:LB) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,158 shares of the specialty retailer’s stock after acquiring an additional 1,131 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in L Brands were worth $864,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LB. Assenagon Asset Management S.A. acquired a new position in L Brands in the second quarter valued at approximately $4,498,000. Kwmg LLC lifted its stake in L Brands by 19.9% in the 2nd quarter. Kwmg LLC now owns 113,100 shares of the specialty retailer’s stock worth $1,693,000 after acquiring an additional 18,734 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in L Brands by 4.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 45,700 shares of the specialty retailer’s stock worth $684,000 after acquiring an additional 1,950 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in L Brands in the 2nd quarter worth about $222,000. Finally, Sciencast Management LP purchased a new stake in L Brands in the 2nd quarter worth about $513,000. 76.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of LB opened at $39.97 on Friday. L Brands, Inc. has a one year low of $8.00 and a one year high of $40.79. The company has a market cap of $11.11 billion, a P/E ratio of -13.98, a P/E/G ratio of 2.06 and a beta of 1.62. The firm has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $24.14.

L Brands (NYSE:LB) last posted its earnings results on Tuesday, November 17th. The specialty retailer reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $1.04. L Brands had a negative net margin of 6.96% and a negative return on equity of 19.91%. Equities analysts expect that L Brands, Inc. will post 1.26 earnings per share for the current year.

In other L Brands news, insider James L. Bersani sold 28,373 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $30.00, for a total transaction of $851,190.00. Following the sale, the insider now owns 242,339 shares of the company’s stock, valued at $7,270,170. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 17.83% of the company’s stock.

A number of research analysts recently weighed in on the company. KeyCorp raised their price objective on L Brands from $41.00 to $49.00 in a research note on Friday. Citigroup lowered L Brands from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $15.00 to $17.00 in a report on Thursday, July 30th. ValuEngine raised L Brands from a “sell” rating to a “hold” rating in a report on Tuesday, September 1st. Wedbush lifted their price target on shares of L Brands from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, B. Riley lifted their price target on shares of L Brands from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the company. L Brands currently has an average rating of “Hold” and a consensus price target of $33.76.

About L Brands

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, personal care, and beauty and home fragrance products. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include bras and panties, loungewear, athletic attire, shower gels and lotions, aromatherapy, soaps and sanitizers, and body care accessories.

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

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