Amundi Pioneer Asset Management Inc. Has $22.03 Million Holdings in L Brands Inc (NYSE:LB)

Amundi Pioneer Asset Management Inc. lowered its position in L Brands Inc (NYSE:LB) by 5.2% in the first quarter, HoldingsChannel.com reports. The fund owned 798,583 shares of the specialty retailer’s stock after selling 43,412 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in L Brands were worth $22,025,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the business. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of L Brands by 2.7% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 19,074 shares of the specialty retailer’s stock worth $526,000 after acquiring an additional 500 shares during the period. State Treasurer State of Michigan raised its position in shares of L Brands by 0.8% during the 1st quarter. State Treasurer State of Michigan now owns 65,844 shares of the specialty retailer’s stock worth $1,816,000 after purchasing an additional 500 shares during the last quarter. ETF Managers Group LLC raised its position in shares of L Brands by 20.3% during the 4th quarter. ETF Managers Group LLC now owns 3,545 shares of the specialty retailer’s stock worth $91,000 after purchasing an additional 597 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of L Brands by 7.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,934 shares of the specialty retailer’s stock worth $229,000 after purchasing an additional 600 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of L Brands by 3.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,159 shares of the specialty retailer’s stock worth $492,000 after purchasing an additional 724 shares during the last quarter. Institutional investors and hedge funds own 69.23% of the company’s stock.

Shares of NYSE LB opened at $22.21 on Friday. L Brands Inc has a 52 week low of $21.44 and a 52 week high of $38.00. The stock has a market capitalization of $6.06 billion, a P/E ratio of 7.88, a P/E/G ratio of 0.84 and a beta of 0.58.

L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. L Brands had a net margin of 4.81% and a negative return on equity of 74.29%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts forecast that L Brands Inc will post 2.41 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Thursday, May 30th. L Brands’s dividend payout ratio (DPR) is 42.55%.

LB has been the subject of several research analyst reports. Odeon Capital Group initiated coverage on shares of L Brands in a research report on Friday, April 26th. They set a “buy” rating for the company. Royal Bank of Canada set a $35.00 price objective on shares of L Brands and gave the company a “buy” rating in a report on Friday, May 24th. Jefferies Financial Group reduced their price objective on shares of L Brands from $21.00 to $16.00 in a report on Thursday, February 28th. Telsey Advisory Group restated a “market perform” rating and issued a $28.00 price objective (down from $31.00) on shares of L Brands in a report on Friday, March 1st. Finally, B. Riley dropped their target price on shares of L Brands from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, February 21st. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.96.

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L Brands Company Profile

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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

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