Wells Fargo & Company MN grew its position in shares of L Brands, Inc. (NYSE:LB) by 13.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,137,092 shares of the specialty retailer’s stock after purchasing an additional 136,802 shares during the period. Wells Fargo & Company MN owned approximately 0.40% of L Brands worth $61,278,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of L Brands by 3,863.4% during the first quarter. BlackRock Inc. now owns 19,000,928 shares of the specialty retailer’s stock valued at $894,945,000 after purchasing an additional 18,521,518 shares in the last quarter. Primecap Management Co. CA grew its position in shares of L Brands by 16.1% during the first quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock valued at $885,383,000 after purchasing an additional 2,600,605 shares in the last quarter. Vanguard Group Inc. grew its position in shares of L Brands by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,939,639 shares of the specialty retailer’s stock valued at $750,756,000 after purchasing an additional 196,711 shares in the last quarter. Wellington Management Group LLP grew its position in shares of L Brands by 86.8% during the first quarter. Wellington Management Group LLP now owns 14,514,565 shares of the specialty retailer’s stock valued at $683,636,000 after purchasing an additional 6,745,624 shares in the last quarter. Finally, State Street Corp grew its position in shares of L Brands by 2.4% during the first quarter. State Street Corp now owns 10,354,575 shares of the specialty retailer’s stock valued at $487,693,000 after purchasing an additional 245,162 shares in the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.

Shares of L Brands, Inc. (NYSE:LB) opened at 40.54 on Friday. L Brands, Inc. has a one year low of $35.00 and a one year high of $75.94. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 11.90 and a beta of 0.65. The stock’s 50 day moving average is $39.52 and its 200-day moving average is $47.17.

L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the business earned $0.70 EPS. L Brands’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts predict that L Brands, Inc. will post $3.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.40 annualized dividend and a yield of 5.92%. L Brands’s dividend payout ratio is currently 70.38%.

LB has been the subject of several recent research reports. Jefferies Group LLC set a $30.00 price target on L Brands and gave the stock a “sell” rating in a research report on Monday, August 28th. FBR & Co reiterated an “outperform” rating and issued a $60.00 price target on shares of L Brands in a research report on Wednesday, May 31st. Robert W. Baird reiterated a “hold” rating and issued a $44.00 price target on shares of L Brands in a research report on Friday, September 1st. Buckingham Research dropped their price target on L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Finally, Cowen and Company reiterated a “buy” rating and issued a $56.00 price target on shares of L Brands in a research report on Tuesday, July 4th. Seven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. L Brands has a consensus rating of “Hold” and a consensus target price of $47.46.

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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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Institutional Ownership by Quarter for L Brands (NYSE:LB)

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