National Pension Service boosted its position in L Brands, Inc. (NYSE:LB) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 269,590 shares of the specialty retailer’s stock after buying an additional 8,363 shares during the period. National Pension Service owned about 0.09% of L Brands worth $14,609,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Skylands Capital LLC raised its position in L Brands by 51.4% in the first quarter. Skylands Capital LLC now owns 96,825 shares of the specialty retailer’s stock worth $4,560,000 after buying an additional 32,875 shares during the period. BKD Wealth Advisors LLC increased its stake in L Brands by 15.0% in the first quarter. BKD Wealth Advisors LLC now owns 11,516 shares of the specialty retailer’s stock worth $542,000 after buying an additional 1,498 shares in the last quarter. Prospera Financial Services Inc increased its stake in 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. Stokes & Hubbell Capital Management LLC acquired a new stake in L Brands during the first quarter worth approximately $2,617,000. Finally, Verde Servicos Internacionais S.A. acquired a new stake in L Brands during the first quarter worth approximately $569,000. 75.43% of the stock is currently owned by hedge funds and other institutional investors.
L Brands, Inc. (LB) traded down 0.87% on Friday, reaching $40.88. The company’s stock had a trading volume of 3,751,735 shares. The company has a market capitalization of $11.73 billion, a price-to-earnings ratio of 10.77 and a beta of 0.62. L Brands, Inc. has a 1-year low of $40.77 and a 1-year high of $79.67. The stock has a 50 day moving average price of $46.97 and a 200-day moving average price of $50.79.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm posted $0.59 EPS. The company’s quarterly revenue was down 6.8% on a year-over-year basis. Equities analysts predict 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend is Wednesday, August 16th. L Brands’s dividend payout ratio (DPR) is presently 63.16%.
Several equities research analysts recently issued reports on LB shares. Buckingham Research reiterated a “buy” rating on shares of L Brands in a report on Wednesday, April 26th. Instinet reiterated a “neutral” rating and issued a $49.00 price objective (up previously from $48.00) on shares of L Brands in a report on Friday, May 19th. Jefferies Group LLC set a $32.00 price target on L Brands and gave the stock a “sell” rating in a report on Wednesday, July 19th. BidaskClub downgraded L Brands from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Credit Suisse Group restated a “neutral” rating and set a $55.00 price target (up previously from $52.00) on shares of L Brands in a report on Friday, May 19th. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company. L Brands currently has an average rating of “Hold” and a consensus price target of $55.76.
In related news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the sale, the chief executive officer now owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.45% of the company’s stock.
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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