Russell Investments Group Ltd. lessened its holdings in shares of L Brands, Inc. (NYSE:LB) by 70.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,826 shares of the specialty retailer’s stock after selling 60,944 shares during the period. Russell Investments Group Ltd.’s holdings in L Brands were worth $1,392,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. FNY Partners Fund LP acquired a new stake in shares of L Brands during the 1st quarter worth about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of L Brands during the 1st quarter worth about $142,000. IFP Advisors Inc raised its position in shares of L Brands by 20.2% during the 1st quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock worth $148,000 after acquiring an additional 529 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of L Brands during the 1st quarter worth about $219,000. Finally, ARGI Investment Services LLC purchased a new position in L Brands during the 1st quarter worth approximately $222,000. 79.54% of the stock is currently owned by institutional investors and hedge funds.
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Shares of L Brands, Inc. (NYSE:LB) traded up 0.32% during trading on Friday, reaching $40.54. The company had a trading volume of 5,677,680 shares. The stock’s 50-day moving average price is $39.52 and its 200-day moving average price is $47.17. The stock has a market capitalization of $11.51 billion, a PE ratio of 11.90 and a beta of 0.65. L Brands, Inc. has a 12 month low of $35.00 and a 12 month high of $75.94.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. Equities analysts forecast that L Brands, Inc. will post $3.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend was Wednesday, August 16th. L Brands’s payout ratio is currently 70.38%.
A number of research firms recently issued reports on LB. Zacks Investment Research downgraded L Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. FBR & Co restated an “outperform” rating and set a $60.00 price target on shares of L Brands in a research note on Wednesday, May 31st. Vetr upgraded L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 price target on the stock in a research note on Monday, June 19th. BMO Capital Markets set a $37.00 price target on L Brands and gave the stock a “market perform” rating in a research note on Friday, August 18th. Finally, Bank of America Corporation dropped their price target on L Brands from $35.00 to $32.00 and set an “underperform” rating on the stock in a research note on Friday, August 18th. Seven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.46.
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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