Advisory Services Network LLC boosted its position in L Brands Inc (NYSE:LB) by 52.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,973 shares of the specialty retailer’s stock after buying an additional 2,733 shares during the period. Advisory Services Network LLC’s holdings in L Brands were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LB. Victory Capital Management Inc. boosted its stake in L Brands by 1,045.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,091,745 shares of the specialty retailer’s stock valued at $65,745,000 after purchasing an additional 996,468 shares during the period. American Century Companies Inc. boosted its stake in L Brands by 328.4% in the 3rd quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock valued at $51,615,000 after purchasing an additional 950,859 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in L Brands by 29.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after purchasing an additional 935,259 shares during the period. Flossbach Von Storch AG boosted its stake in L Brands by 81.2% in the 3rd quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock valued at $85,468,000 after purchasing an additional 920,710 shares during the period. Finally, Alps Advisors Inc. bought a new stake in L Brands in the 4th quarter valued at $50,451,000. Institutional investors and hedge funds own 80.36% of the company’s stock.
Several analysts recently issued reports on LB shares. Buckingham Research downgraded L Brands from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Thursday, October 26th. Jefferies Group set a $30.00 price target on L Brands and gave the company a “sell” rating in a research note on Sunday, October 29th. FBR & Co set a $58.00 price target on L Brands and gave the company a “buy” rating in a research note on Monday, October 30th. Royal Bank of Canada set a $40.00 price objective on L Brands and gave the company a “hold” rating in a report on Monday, October 30th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $44.00 price objective on shares of L Brands in a report on Wednesday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 5.06%. L Brands’s dividend payout ratio is currently 73.17%.
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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