Pictet Asset Management Ltd. Has $2.23 Million Stake in L Brands Inc (NYSE:LB)

Pictet Asset Management Ltd. decreased its holdings in L Brands Inc (NYSE:LB) by 7.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,682 shares of the specialty retailer’s stock after selling 8,700 shares during the quarter. Pictet Asset Management Ltd.’s holdings in L Brands were worth $2,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of L Brands by 5.1% during the 2nd quarter. BlackRock Inc. now owns 19,944,437 shares of the specialty retailer’s stock worth $520,550,000 after purchasing an additional 970,548 shares in the last quarter. State Street Corp grew its stake in L Brands by 9.0% during the third quarter. State Street Corp now owns 11,928,770 shares of the specialty retailer’s stock worth $233,685,000 after buying an additional 983,063 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in L Brands by 0.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,029,483 shares of the specialty retailer’s stock valued at $131,270,000 after buying an additional 13,038 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in L Brands by 31.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,962,678 shares of the specialty retailer’s stock valued at $129,526,000 after buying an additional 1,180,198 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of L Brands by 117.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,401,433 shares of the specialty retailer’s stock valued at $114,877,000 after buying an additional 2,377,700 shares in the last quarter. 71.33% of the stock is owned by hedge funds and other institutional investors.

LB has been the subject of a number of recent analyst reports. Goldman Sachs Group set a $26.00 price target on shares of L Brands and gave the stock a “buy” rating in a report on Friday, August 23rd. MKM Partners decreased their price objective on shares of L Brands to $17.00 and set a “neutral” rating on the stock in a research note on Thursday, November 21st. Telsey Advisory Group lowered their price objective on shares of L Brands from $22.00 to $19.00 and set a “market perform” rating for the company in a research report on Friday, November 22nd. Deutsche Bank cut L Brands from a “buy” rating to a “hold” rating and cut their target price for the stock from $31.00 to $20.00 in a research note on Monday, November 11th. Finally, Loop Capital reduced their target price on L Brands from $15.00 to $14.00 and set a “sell” rating on the stock in a report on Thursday, November 21st. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and a consensus price target of $24.24.

Shares of NYSE:LB opened at $17.82 on Friday. The company has a fifty day moving average of $17.79 and a 200-day moving average of $20.86. The company has a market capitalization of $5.10 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 0.70 and a beta of 0.79. L Brands Inc has a 52-week low of $15.80 and a 52-week high of $34.03.

L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.69 billion. L Brands had a negative return on equity of 78.99% and a net margin of 2.80%. L Brands’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. Sell-side analysts expect that L Brands Inc will post 2.39 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $1.20 annualized dividend and a yield of 6.73%. L Brands’s dividend payout ratio is presently 42.55%.

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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