Russell Investments Group Ltd. lowered its position in L Brands, Inc. (NYSE:LB) by 70.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,826 shares of the specialty retailer’s stock after selling 60,944 shares during the period. Russell Investments Group Ltd.’s holdings in L Brands were worth $1,392,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LB. FNY Partners Fund LP bought a new stake in shares of L Brands in the 1st quarter valued at $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of L Brands in the 1st quarter valued at $142,000. IFP Advisors Inc increased its position in shares of L Brands by 20.2% in the 1st quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 529 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of L Brands in the 1st quarter valued at $219,000. Finally, ARGI Investment Services LLC bought a new stake in shares of L Brands in the 1st quarter valued at $222,000. Institutional investors and hedge funds own 78.71% of the company’s stock.
L Brands, Inc. (NYSE:LB) traded down 0.70% during mid-day trading on Friday, hitting $37.10. 2,452,743 shares of the company traded hands. The firm has a market capitalization of $10.64 billion, a P/E ratio of 10.89 and a beta of 0.65. L Brands, Inc. has a one year low of $35.00 and a one year high of $75.94. The firm has a 50 day moving average of $40.29 and a 200 day moving average of $47.67.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.75 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. L Brands’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. Equities research analysts expect that L Brands, Inc. will post $3.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date was Wednesday, August 16th. L Brands’s payout ratio is 70.38%.
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A number of research firms recently commented on LB. BMO Capital Markets set a $44.00 price objective on shares of L Brands and gave the company a “hold” rating in a research report on Tuesday, August 8th. Jefferies Group LLC set a $32.00 target price on shares of L Brands and gave the stock a “sell” rating in a research note on Thursday, August 17th. Instinet reduced their target price on shares of L Brands from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Buckingham Research set a $43.00 target price on shares of L Brands and gave the stock a “buy” rating in a research note on Friday, August 18th. Finally, Nomura set a $38.00 target price on shares of L Brands and gave the stock a “hold” rating in a research note on Thursday, August 17th. Seven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $47.30.
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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