Livforsakringsbolaget Skandia Omsesidigt continued to hold its stake in L Brands, Inc. (NYSE:LB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,664 shares of the specialty retailer’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in L Brands were worth $251,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the company. FNY Partners Fund LP acquired a new position in L Brands during the first quarter valued at approximately $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in L Brands during the first quarter valued at approximately $142,000. IFP Advisors Inc raised its position in L Brands by 20.2% in the first 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 during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of L Brands during the first quarter worth about $214,000. Finally, Prospera Financial Services Inc increased its position in shares of L Brands by 23.1% in the first quarter. Prospera Financial Services Inc now owns 4,632 shares of the specialty retailer’s stock worth $200,000 after buying an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 75.43% of the company’s stock.
Shares of L Brands, Inc. (LB) traded down 0.44% during mid-day trading on Friday, reaching $41.06. 3,084,288 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $46.97 and a 200-day moving average price of $50.79. L Brands, Inc. has a 1-year low of $40.77 and a 1-year high of $79.67. The company has a market capitalization of $11.78 billion, a P/E ratio of 10.81 and a beta of 0.62.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities research analysts forecast that L Brands, Inc. will post $3.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.40 annualized dividend and a dividend yield of 5.82%. L Brands’s dividend payout ratio is currently 63.16%.
Several brokerages have recently weighed in on LB. FBR & Co restated an “outperform” rating and set a $60.00 price objective on shares of L Brands in a research report on Wednesday, May 31st. Vetr upgraded shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 price objective for the company in a research report on Monday, June 19th. Jefferies Group LLC set a $35.00 target price on shares of L Brands and gave the company a “sell” rating in a report on Monday, July 10th. Wolfe Research cut their target price on shares of L Brands from $52.00 to $48.00 and set a “peer perform” rating on the stock in a report on Friday, July 7th. Finally, Piper Jaffray Companies set a $48.00 target price on shares of L Brands and gave the company a “hold” rating in a report on Monday, May 15th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $55.76.
In other news, CEO Nicholas Coe sold 39,839 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the transaction, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at $3,698,163.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.45% of the stock is owned by corporate insiders.
L Brands Company Profile
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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