Public Employees Retirement Association of Colorado Sells 3,058 Shares of L Brands Inc. (LB)
Public Employees Retirement Association of Colorado lowered its stake in L Brands Inc. (NYSE:LB) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 340,689 shares of the company’s stock after selling 3,058 shares during the period. Public Employees Retirement Association of Colorado owned 0.12% of L Brands worth $22,870,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its stake in L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares during the period. Quadrant Capital Group LLC increased its stake in L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock worth $145,000 after buying an additional 124 shares during the period. Flossbach Von Storch AG increased its stake in L Brands by 428.2% in the second quarter. Flossbach Von Storch AG now owns 1,686,624 shares of the company’s stock worth $113,223,000 after buying an additional 1,367,300 shares during the period. Huntington National Bank increased its stake in L Brands by 5.9% in the second quarter. Huntington National Bank now owns 18,601 shares of the company’s stock worth $1,250,000 after buying an additional 1,040 shares during the period. Finally, First National Trust Co. increased its stake in L Brands by 70.1% in the second quarter. First National Trust Co. now owns 6,828 shares of the company’s stock worth $459,000 after buying an additional 2,815 shares during the period. 75.60% of the stock is owned by hedge funds and other institutional investors.
Shares of L Brands Inc. (NYSE:LB) traded down 1.60% during midday trading on Tuesday, hitting $70.61. The stock had a trading volume of 563,848 shares. The firm has a 50-day moving average of $73.34 and a 200 day moving average of $73.02. The firm has a market cap of $20.19 billion, a PE ratio of 17.21 and a beta of 0.91. L Brands Inc. has a 12-month low of $60.00 and a 12-month high of $101.11.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The company had revenue of $2.89 billion for the quarter. During the same period in the previous year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that L Brands Inc. will post $3.83 earnings per share for the current year.
A number of equities research analysts have commented on LB shares. Bank of America Corp. downgraded L Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $74.00 to $57.00 in a report on Tuesday, June 28th. Mizuho restated a “buy” rating and issued a $85.00 price target on shares of L Brands in a research report on Monday, September 26th. Vetr cut L Brands from a “strong-buy” rating to a “hold” rating and set a $66.86 price target for the company. in a research report on Tuesday, June 28th. Citigroup Inc. raised their price target on L Brands from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Finally, FBR & Co restated a “market perform” rating and issued a $75.00 price target on shares of L Brands in a research report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $77.95.
In other news, insider Martin P. Waters sold 45,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the sale, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is owned by company insiders.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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