Neuberger Berman Group LLC reduced its position in shares of L Brands, Inc. (NYSE:LB) by 46.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,236 shares of the specialty retailer’s stock after selling 78,903 shares during the period. Neuberger Berman Group LLC’s holdings in L Brands were worth $4,809,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aviva PLC raised its holdings in L Brands by 5.7% during the second quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after purchasing an additional 7,635 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in L Brands by 18.1% during the second quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock worth $52,045,000 after purchasing an additional 148,076 shares in the last quarter. US Bancorp DE raised its holdings in L Brands by 11.4% during the second quarter. US Bancorp DE now owns 14,761 shares of the specialty retailer’s stock worth $796,000 after purchasing an additional 1,514 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in L Brands by 508.2% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 39,432 shares of the specialty retailer’s stock worth $2,125,000 after purchasing an additional 32,949 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in L Brands during the first quarter worth about $982,000. 79.54% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on LB. Jefferies Group LLC set a $32.00 price target on shares of L Brands and gave the stock a “sell” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued a “hold” rating and set a $55.00 price target on shares of L Brands in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) set a $59.00 price target on shares of L Brands and gave the stock a “buy” rating in a report on Thursday, August 17th. Instinet cut their price target on shares of L Brands from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Finally, Cowen and Company set a $40.00 target price on shares of L Brands and gave the company a “buy” rating in a report on Friday, August 18th. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.63.
L Brands, Inc. (NYSE LB) opened at 39.36 on Wednesday. L Brands, Inc. has a one year low of $35.00 and a one year high of $75.94. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 11.55 and a beta of 0.65. The firm has a 50 day moving average of $40.09 and a 200-day moving average of $47.44.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts forecast that L Brands, Inc. will post $3.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.10%. L Brands’s dividend payout ratio is currently 70.38%.
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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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