Sumitomo Mitsui Trust Holdings Inc. Purchases 15,558 Shares of L Brands Inc. (LB)
Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of L Brands Inc. (NYSE:LB) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 747,437 shares of the company’s stock after buying an additional 15,558 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.26% of L Brands worth $50,175,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Loomis Sayles & Co. L P boosted its position in L Brands by 76.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the company’s stock worth $151,000 after buying an additional 741 shares during the period. Financial Architects Inc boosted its position in L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock worth $117,000 after buying an additional 631 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position 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 boosted its position 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. Finally, Boothbay Fund Management LLC boosted its position in L Brands by 4.5% in the first quarter. Boothbay Fund Management LLC now owns 2,694 shares of the company’s stock worth $237,000 after buying an additional 117 shares during the period. 75.58% of the stock is currently owned by institutional investors.
L Brands Inc. (NYSE:LB) traded down 1.34% during mid-day trading on Monday, hitting $72.25. 1,222,764 shares of the stock were exchanged. The company has a 50-day moving average price of $72.75 and a 200-day moving average price of $72.90. L Brands Inc. has a one year low of $60.00 and a one year high of $101.11. The company has a market cap of $20.66 billion, a P/E ratio of 17.61 and a beta of 0.91.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.11. The business earned $2.89 billion during the quarter. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, analysts predict that L Brands Inc. will post $3.83 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on LB. Nomura reaffirmed a “hold” rating on shares of L Brands in a research note on Saturday, July 9th. Robert W. Baird set a $80.00 price target on shares of L Brands and gave the stock a “neutral” rating in a research note on Friday, September 2nd. Deutsche Bank AG reaffirmed a “buy” rating on shares of L Brands in a research note on Sunday, July 10th. FBR & Co set a $75.00 price target on shares of L Brands and gave the stock a “hold” rating in a research note on Saturday, October 8th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $90.00 price objective on shares of L Brands in a research note on Saturday, September 3rd. Two investment 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 company presently has a consensus rating of “Hold” and an average target price of $78.32.
In related news, COO Charles Mcguigan sold 23,687 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martin P. Waters sold 45,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the completion of the sale, the insider now owns 13,970 shares of the company’s stock, valued at $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is owned by corporate insiders.
About L Brands
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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