ST Germain D J Co. Inc. grew its holdings in shares of L Brands, Inc. (NYSE:LB) by 132.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,925 shares of the specialty retailer’s stock after purchasing an additional 141,995 shares during the period. ST Germain D J Co. Inc. owned approximately 0.09% of L Brands worth $10,358,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Andra AP fonden boosted its stake in shares of L Brands by 14.6% during the 3rd quarter. Andra AP fonden now owns 54,900 shares of the specialty retailer’s stock worth $2,284,000 after acquiring an additional 7,000 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of L Brands during the 3rd quarter worth approximately $13,466,000. IFP Advisors Inc boosted its stake in shares of L Brands by 52.1% during the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after acquiring an additional 1,618 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of L Brands by 37.7% during the 3rd quarter. Westpac Banking Corp now owns 260,882 shares of the specialty retailer’s stock worth $10,855,000 after acquiring an additional 71,454 shares in the last quarter. Finally, Conning Inc. boosted its stake in shares of L Brands by 62.5% during the 3rd quarter. Conning Inc. now owns 165,448 shares of the specialty retailer’s stock worth $6,884,000 after acquiring an additional 63,655 shares in the last quarter. Institutional investors own 79.66% of the company’s stock.
In related news, Director Allan R. Tessler purchased 20,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was purchased at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the acquisition, the director now owns 43,342 shares in the company, valued at $1,603,654. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.68% of the stock is currently owned by corporate insiders.
Shares of L Brands, Inc. (NYSE LB) traded down $0.38 during midday trading on Friday, reaching $46.72. The company had a trading volume of 5,642,570 shares, compared to its average volume of 3,905,212. L Brands, Inc. has a 52-week low of $35.00 and a 52-week high of $75.50. The firm has a market cap of $13,261.29, a P/E ratio of 14.33, a P/E/G ratio of 1.32 and a beta of 0.67. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of -6.25.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the firm earned $0.70 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. equities analysts predict that L Brands, Inc. will post 3.21 earnings per share for the current fiscal year.
L Brands declared that its board has authorized a share repurchase plan on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have recently commented on the company. Sanford C. Bernstein reissued an “outperform” rating and set a $57.00 price target on shares of L Brands in a research note on Monday, September 18th. Zacks Investment Research lowered L Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. FBR & Co reissued a “buy” rating and set a $58.00 price target on shares of L Brands in a research note on Wednesday, October 4th. BMO Capital Markets set a $37.00 price target on L Brands and gave the stock a “market perform” rating in a research note on Friday, August 18th. Finally, Bank of America Corporation decreased their price target on L Brands from $35.00 to $32.00 and set an “underperform” rating on the stock in a research note on Friday, August 18th. Seven investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and a consensus price target of $46.28.
L Brands 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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