BlackRock Inc. Buys 970,548 Shares of L Brands Inc (NYSE:LB)

BlackRock Inc. grew its stake in shares of L Brands Inc (NYSE:LB) by 5.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 19,944,437 shares of the specialty retailer’s stock after acquiring an additional 970,548 shares during the quarter. BlackRock Inc. owned about 0.07% of L Brands worth $520,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empirical Finance LLC increased its stake in L Brands by 1.1% during the second quarter. Empirical Finance LLC now owns 39,800 shares of the specialty retailer’s stock valued at $1,039,000 after purchasing an additional 423 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of L Brands by 0.6% during the second quarter. Retirement Systems of Alabama now owns 106,965 shares of the specialty retailer’s stock worth $2,792,000 after acquiring an additional 636 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of L Brands by 6.3% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 20,274 shares of the specialty retailer’s stock worth $529,000 after acquiring an additional 1,200 shares during the last quarter. Kwmg LLC grew its position in shares of L Brands by 7.9% during the second quarter. Kwmg LLC now owns 84,769 shares of the specialty retailer’s stock worth $2,212,000 after acquiring an additional 6,195 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC grew its position in shares of L Brands by 17.0% during the second quarter. Gyroscope Capital Management Group LLC now owns 297,510 shares of the specialty retailer’s stock worth $8,268,000 after acquiring an additional 43,173 shares during the last quarter. Hedge funds and other institutional investors own 69.86% of the company’s stock.

LB stock opened at $17.75 on Monday. The company has a market capitalization of $4.91 billion, a P/E ratio of 6.29, a PEG ratio of 0.64 and a beta of 0.77. The company has a 50-day simple moving average of $17.92 and a 200 day simple moving average of $21.75. L Brands Inc has a fifty-two week low of $15.82 and a fifty-two week high of $38.00.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, sell-side analysts expect that L Brands Inc will post 2.4 EPS for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, September 30th. L Brands’s payout ratio is currently 42.55%.

Several equities analysts have recently commented on LB shares. Citigroup lowered their price target on shares of L Brands from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, August 23rd. Sanford C. Bernstein restated a “market perform” rating and set a $21.00 price target (down previously from $30.00) on shares of L Brands in a research report on Friday, August 23rd. Loop Capital lowered their price target on shares of L Brands from $20.00 to $15.00 and set a “sell” rating for the company in a research report on Thursday, August 22nd. UBS Group lowered their price target on shares of L Brands from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Zacks Investment Research lowered shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. L Brands has an average rating of “Hold” and a consensus price target of $25.95.

L Brands Profile

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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

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