L Brands Inc. (LB) Shares Bought by First Trust Advisors LP
First Trust Advisors LP raised its stake in shares of L Brands Inc. (NYSE:LB) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 193,893 shares of the company’s stock after buying an additional 36,666 shares during the period. First Trust Advisors LP owned about 0.07% of L Brands worth $13,722,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in LB. Palisade Asset Management LLC boosted its stake in shares of L Brands by 19.3% in the second quarter. Palisade Asset Management LLC now owns 11,760 shares of the company’s stock valued at $789,000 after buying an additional 1,900 shares during the period. Breton Hill Capital Ltd. boosted its stake in shares of L Brands by 114.5% in the second quarter. Breton Hill Capital Ltd. now owns 13,104 shares of the company’s stock valued at $880,000 after buying an additional 6,995 shares during the last quarter. BKD Wealth Advisors LLC boosted its stake in shares of L Brands by 4.8% in the second quarter. BKD Wealth Advisors LLC now owns 9,397 shares of the company’s stock valued at $631,000 after buying an additional 428 shares during the last quarter. Capital Insight Partners LLC bought a new stake in shares of L Brands during the second quarter valued at $1,361,000. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in shares of L Brands by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 218,403 shares of the company’s stock valued at $14,662,000 after buying an additional 872 shares during the last quarter. Institutional investors and hedge funds own 73.59% of the company’s stock.
Shares of L Brands Inc. (NYSE:LB) traded up 0.29% on Tuesday, reaching $71.98. 1,236,456 shares of the company were exchanged. The stock has a 50 day moving average of $70.27 and a 200-day moving average of $70.75. The company has a market capitalization of $20.58 billion, a P/E ratio of 18.12 and a beta of 0.88. L Brands Inc. has a 52-week low of $60.00 and a 52-week high of $99.83.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 16th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. L Brands’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. On average, analysts predict that L Brands Inc. will post $3.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.34%. L Brands’s dividend payout ratio (DPR) is 60.61%.
Several equities research analysts have weighed in on the company. Piper Jaffray Cos. raised L Brands from an “underweight” rating to a “neutral” rating and set a $67.00 price objective on the stock in a research note on Monday. BMO Capital Markets reissued a “hold” rating and set a $64.00 price objective on shares of L Brands in a research note on Thursday, November 17th. FBR & Co reduced their price objective on L Brands to $69.00 in a research note on Thursday, November 17th. Citigroup Inc. raised L Brands from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $74.00 to $84.00 in a research note on Monday, November 14th. Finally, Vetr cut L Brands from a “hold” rating to a “sell” rating and set a $65.46 target price on the stock. in a research note on Monday, November 14th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.28.
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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