State Treasurer State of Michigan Reduces Position in L Brands Inc (LB)

State Treasurer State of Michigan reduced its holdings in L Brands Inc (NYSE:LB) by 4.5% during the fourth quarter, HoldingsChannel reports. The firm owned 72,344 shares of the specialty retailer’s stock after selling 3,400 shares during the period. State Treasurer State of Michigan’s holdings in L Brands were worth $4,357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fosun International Ltd raised its holdings in shares of L Brands by 205.4% during the third quarter. Fosun International Ltd now owns 532,022 shares of the specialty retailer’s stock valued at $22,137,000 after acquiring an additional 357,797 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of L Brands by 4.0% during the third quarter. Alyeska Investment Group L.P. now owns 855,019 shares of the specialty retailer’s stock valued at $35,577,000 after acquiring an additional 33,005 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of L Brands by 31.0% during the third quarter. Oppenheimer & Co. Inc. now owns 18,512 shares of the specialty retailer’s stock valued at $770,000 after acquiring an additional 4,378 shares during the period. California Public Employees Retirement System raised its holdings in shares of L Brands by 7.0% during the third quarter. California Public Employees Retirement System now owns 585,641 shares of the specialty retailer’s stock valued at $24,369,000 after acquiring an additional 38,141 shares during the period. Finally, Private Capital Management Inc. raised its holdings in shares of L Brands by 26.4% during the third quarter. Private Capital Management Inc. now owns 12,700 shares of the specialty retailer’s stock valued at $528,000 after acquiring an additional 2,650 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Shares of L Brands Inc (LB) opened at $47.20 on Wednesday. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60. The company has a market cap of $12,981.38, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.20 and a beta of 0.61. L Brands Inc has a 1 year low of $35.00 and a 1 year high of $63.10.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. L Brands’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. sell-side analysts predict that L Brands Inc will post 3.11 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of L Brands from $44.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Scotiabank restated a “hold” rating and set a $59.00 price target on shares of L Brands in a report on Wednesday, January 17th. Piper Jaffray Companies set a $49.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Wednesday, January 10th. MKM Partners set a $56.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Friday, January 5th. Finally, Citigroup restated a “hold” rating and set a $58.00 price target on shares of L Brands in a report on Friday, January 5th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.86.

In other news, Director David T. Kollat acquired 9,910 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $50.34 per share, with a total value of $498,869.40. Following the acquisition, the director now owns 158,878 shares in the company, valued at $7,997,918.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.68% of the stock is currently owned by corporate insiders.

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

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