Deutsche Bank AG decreased its holdings in shares of L Brands Inc (NYSE:LB) by 66.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,603,147 shares of the specialty retailer’s stock after selling 3,105,442 shares during the quarter. Deutsche Bank AG owned about 0.57% of L Brands worth $96,536,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in shares of L Brands by 182.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after buying an additional 1,364 shares in the last quarter. Gradient Investments LLC acquired a new stake in shares of L Brands in the fourth quarter valued at $153,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of L Brands in the third quarter valued at $161,000. Chesapeake Asset Management LLC acquired a new stake in shares of L Brands in the third quarter valued at $205,000. Finally, Check Capital Management Inc. CA acquired a new stake in shares of L Brands in the fourth quarter valued at $205,000. 81.05% of the stock is owned by institutional investors.
Shares of L Brands Inc (NYSE:LB) opened at $42.26 on Monday. L Brands Inc has a fifty-two week low of $35.00 and a fifty-two week high of $63.10. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60. The firm has a market capitalization of $11,928.53, a PE ratio of 13.12, a PEG ratio of 1.16 and a beta of 0.59.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.06. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.72 billion. L Brands had a negative return on equity of 96.25% and a net margin of 7.78%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 EPS. analysts anticipate that L Brands Inc will post 3.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.68%. The ex-dividend date of this dividend was Thursday, February 22nd. L Brands’s dividend payout ratio is presently 69.77%.
L Brands announced that its board has approved a stock buyback plan on Thursday, March 8th that authorizes the company to buyback $226.90 million in shares. This buyback authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Several research analysts recently commented on LB shares. B. Riley set a $58.00 target price on L Brands and gave the stock a “buy” rating in a research note on Thursday, November 16th. Northcoast Research raised L Brands from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. Deutsche Bank lowered their target price on L Brands from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, February 26th. Robert W. Baird set a $63.00 target price on L Brands and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $52.00 target price on shares of L Brands in a research note on Thursday, March 1st. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $50.40.
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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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