Public Employees Retirement Association of Colorado cut its position in shares of L Brands, Inc. (NYSE:LB) by 0.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 45,769 shares of the specialty retailer’s stock after selling 134 shares during the period. Public Employees Retirement Association of Colorado’s holdings in L Brands were worth $2,466,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Teachers Advisors LLC boosted its position in shares of L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock worth $19,647,000 after buying an additional 18,142 shares in the last quarter. Lincoln National Corp boosted its position in shares of L Brands by 51.5% in the first quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock worth $1,668,000 after buying an additional 12,045 shares in the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in shares of L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock worth $1,129,000 after buying an additional 18,575 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of L Brands during the first quarter worth $1,681,000. Finally, US Bancorp DE boosted its position in shares of L Brands by 11.4% in the second quarter. US Bancorp DE now owns 14,761 shares of the specialty retailer’s stock worth $796,000 after buying an additional 1,514 shares in the last quarter. 75.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of L Brands, Inc. (LB) traded down 3.60% during trading on Friday, hitting $36.20. 7,047,985 shares of the stock traded hands. The company has a market cap of $10.38 billion, a P/E ratio of 10.63 and a beta of 0.62. L Brands, Inc. has a 1-year low of $35.00 and a 1-year high of $79.67. The stock has a 50-day moving average of $44.42 and a 200 day moving average of $49.87. L Brands also was the recipient of unusually large options trading activity on Wednesday. Traders bought 18,485 call options on the stock. This is an increase of 663% compared to the average volume of 2,424 call options.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.63%. The ex-dividend date is Wednesday, August 16th. L Brands’s dividend payout ratio (DPR) is presently 70.38%.
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LB has been the topic of a number of recent analyst reports. FBR & Co reissued an “outperform” rating and set a $60.00 price target on shares of L Brands in a research report on Wednesday, May 31st. Buckingham Research restated a “buy” rating on shares of L Brands in a report on Wednesday, April 26th. Oppenheimer Holdings, Inc. set a $62.00 price objective on shares of L Brands and gave the stock a “buy” rating in a report on Thursday, May 4th. Jefferies Group LLC restated an “underperform” rating and set a $32.00 price objective on shares of L Brands in a report on Wednesday, August 9th. Finally, Vetr upgraded shares of L Brands from a “hold” rating to a “buy” rating and set a $53.07 price objective on the stock in a report on Thursday, May 4th. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the stock. L Brands currently has a consensus rating of “Hold” and a consensus target price of $51.29.
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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