Commonwealth Bank of Australia Acquires 22,052 Shares of L Brands Inc (LB)

Commonwealth Bank of Australia grew its holdings in L Brands Inc (NYSE:LB) by 1,427.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,597 shares of the specialty retailer’s stock after purchasing an additional 22,052 shares during the quarter. Commonwealth Bank of Australia’s holdings in L Brands were worth $980,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Personal Financial Services raised its stake in shares of L Brands by 127.7% during the 2nd quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after acquiring an additional 1,096 shares in the last quarter. IFP Advisors Inc raised 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. Chesapeake Asset Management LLC bought a new position in shares of L Brands during the 3rd quarter worth approximately $205,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of L Brands during the 3rd quarter worth approximately $208,000. Finally, Summit Financial Strategies Inc. bought a new position in shares of L Brands during the 2nd quarter worth approximately $214,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

Several research analysts recently commented on the stock. Telsey Advisory Group boosted their price objective on shares of L Brands from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday. Robert W. Baird set a $52.00 target price on shares of L Brands and gave the stock a “hold” rating in a research report on Friday, December 1st. B. Riley reissued a “buy” rating and set a $58.00 target price on shares of L Brands in a research report on Wednesday, November 29th. Scotiabank reaffirmed a “hold” rating and issued a $67.00 price objective on shares of L Brands in a report on Wednesday, November 22nd. Finally, Buckingham Research increased their price target on shares of L Brands from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, November 17th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $49.07.

In other L Brands news, Director David T. Kollat acquired 9,910 shares of the stock in a transaction dated Monday, November 20th. The stock was acquired at an average price of $50.34 per share, with a total value of $498,869.40. Following the completion of the purchase, the director now owns 158,878 shares in the company, valued at approximately $7,997,918.52. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allan R. Tessler acquired 20,000 shares of the stock in a transaction dated Thursday, September 21st. The stock was acquired at an average cost of $37.00 per share, with a total value of $740,000.00. Following the purchase, the director now owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The disclosure for this purchase can be found here. Company insiders own 16.68% of the company’s stock.

Shares of L Brands Inc (NYSE:LB) traded down $0.09 during mid-day trading on Thursday, reaching $55.21. 3,066,100 shares of the company’s stock traded hands, compared to its average volume of 4,233,128. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of -5.10. The stock has a market capitalization of $15,609.27, a price-to-earnings ratio of 17.61, a PEG ratio of 1.53 and a beta of 0.81. L Brands Inc has a one year low of $35.00 and a one year high of $75.50.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm posted $0.42 earnings per share. L Brands’s revenue was up 1.4% compared to the same quarter last year. sell-side analysts anticipate that L Brands Inc will post 3.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Wednesday, November 22nd. L Brands’s payout ratio is 72.95%.

L Brands announced that its Board of Directors has authorized a stock buyback plan on Monday, September 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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

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