Alyeska Investment Group L.P. raised its stake in shares of L Brands Inc (NYSE:LB) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 855,019 shares of the specialty retailer’s stock after buying an additional 33,005 shares during the period. Alyeska Investment Group L.P. owned about 0.30% of L Brands worth $35,577,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. M&T Bank Corp boosted its stake in shares of L Brands by 0.3% during the 2nd quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock valued at $925,000 after buying an additional 53 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of L Brands by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock valued at $965,000 after buying an additional 83 shares during the period. Financial Advisors Network Inc. raised its holdings in shares of L Brands by 2.8% during the 2nd quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock valued at $263,000 after purchasing an additional 134 shares in the last quarter. Hedeker Wealth LLC raised its holdings in shares of L Brands by 2.2% during the 2nd quarter. Hedeker Wealth LLC now owns 11,701 shares of the specialty retailer’s stock valued at $630,000 after purchasing an additional 247 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in shares of L Brands by 3.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 9,154 shares of the specialty retailer’s stock valued at $493,000 after purchasing an additional 310 shares in the last quarter. 78.51% of the stock is owned by institutional investors.
L Brands Inc (LB) opened at $57.28 on Friday. The company has a market cap of $16,168.14, a price-to-earnings ratio of 18.24, a P/E/G ratio of 1.59 and a beta of 0.81. L Brands Inc has a twelve month low of $35.00 and a twelve month high of $75.42. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of -5.10.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $2.62 billion for 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%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. analysts expect that L Brands Inc will post 3.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were given a $0.60 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $2.40 annualized dividend and a yield of 4.19%. L Brands’s dividend payout ratio is 72.95%.
L Brands announced that its board has initiated a stock repurchase program on Monday, September 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts have recently weighed in on the stock. Telsey Advisory Group raised their price target on shares of L Brands from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, December 4th. Robert W. Baird set a $52.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Friday, December 1st. B. Riley restated a “buy” rating and set a $58.00 price target on shares of L Brands in a report on Wednesday, November 29th. Scotiabank restated a “hold” rating and set a $67.00 price target on shares of L Brands in a report on Wednesday, November 22nd. Finally, Buckingham Research raised their price target on shares of L Brands from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $49.07.
In related news, Director David T. Kollat purchased 9,910 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the transaction, the director now directly owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Allan R. Tessler purchased 20,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was bought at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares in the company, valued at $1,603,654. The disclosure for this purchase can be found here. Company insiders own 16.68% of the company’s stock.
L Brands Profile
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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