L Brands, Inc. (LB) Shares Sold by Sei Investments Co.
Sei Investments Co. cut its stake in shares of L Brands, Inc. (NYSE:LB) by 47.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 242,500 shares of the specialty retailer’s stock after selling 216,720 shares during the period. Sei Investments Co. owned approximately 0.09% of L Brands worth $11,422,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of LB. Teachers Advisors LLC boosted its position in L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock valued at $19,647,000 after buying an additional 18,142 shares during the period. Three Peaks Capital Management LLC boosted its position in L Brands by 3.3% in the third quarter. Three Peaks Capital Management LLC now owns 73,364 shares of the specialty retailer’s stock valued at $5,192,000 after buying an additional 2,364 shares during the period. Lincoln National Corp boosted its position in L Brands by 51.5% in the first quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock valued at $1,668,000 after buying an additional 12,045 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock valued at $1,129,000 after buying an additional 18,575 shares during the period. Finally, Kentucky Retirement Systems purchased a new position in L Brands during the fourth quarter valued at approximately $1,148,000. 77.14% of the stock is owned by hedge funds and other institutional investors.
L Brands, Inc. (LB) traded down 0.98% on Friday, hitting $51.56. The stock had a trading volume of 3,833,777 shares. The company has a market capitalization of $14.79 billion, a PE ratio of 13.58 and a beta of 0.62. The company has a 50 day moving average of $51.25 and a 200 day moving average of $56.07. L Brands, Inc. has a 12-month low of $43.04 and a 12-month high of $79.67.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. L Brands’s revenue for the quarter was down 6.8% on a year-over-year basis. On average, equities analysts expect that L Brands, Inc. will post $3.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $2.40 annualized dividend and a dividend yield of 4.65%. L Brands’s dividend payout ratio is 63.16%.
A number of equities analysts have recently issued reports on the company. Guggenheim assumed coverage on L Brands in a report on Thursday, March 9th. They issued a “neutral” rating for the company. Zacks Investment Research raised L Brands from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 7th. FBR & Co reissued an “outperform” rating and issued a $60.00 target price on shares of L Brands in a report on Wednesday, May 31st. Stifel Nicolaus reissued a “buy” rating and issued a $61.00 target price (down from $75.00) on shares of L Brands in a report on Thursday, February 23rd. Finally, Buckingham Research reissued a “buy” rating on shares of L Brands in a report on Wednesday, April 26th. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have issued a buy rating to the stock. L Brands currently has an average rating of “Hold” and an average price target of $58.63.
In related news, CEO Nicholas Coe sold 39,839 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the sale, the chief executive officer now owns 75,658 shares of the company’s stock, valued at $3,698,163.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 16.45% of the company’s stock.
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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