L Brands, Inc. (LB) Position Reduced by Private Advisor Group LLC
Private Advisor Group LLC reduced its position in shares of L Brands, Inc. (NYSE:LB) by 91.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,511 shares of the specialty retailer’s stock after selling 100,447 shares during the quarter. Private Advisor Group LLC’s holdings in L Brands were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. First Personal Financial Services increased its stake in shares of L Brands by 127.7% in the 2nd quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after acquiring an additional 1,096 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of L Brands in the 1st quarter worth about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of L Brands in the 1st quarter worth about $142,000. Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of L Brands by 11.2% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after acquiring an additional 375 shares in the last quarter. Finally, Summit Financial Strategies Inc. bought a new position in shares of L Brands in the 2nd quarter worth about $214,000. Institutional investors and hedge funds own 79.54% of the company’s stock.
L Brands, Inc. (LB) opened at 40.54 on Friday. The company has a 50 day moving average of $39.52 and a 200-day moving average of $47.17. L Brands, Inc. has a 12-month low of $35.00 and a 12-month 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.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. On average, equities research analysts forecast that L Brands, Inc. will post $3.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.92%. The ex-dividend date was Wednesday, August 16th. L Brands’s dividend payout ratio is currently 70.38%.
Several brokerages recently issued reports on LB. Zacks Investment Research lowered shares of L Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. FBR & Co reiterated an “outperform” rating and issued a $60.00 price target on shares of L Brands in a research note on Wednesday, May 31st. Vetr upgraded shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 price target for the company in a research note on Monday, June 19th. BMO Capital Markets set a $37.00 price objective on shares of L Brands and gave the company a “market perform” rating in a research report on Friday, August 18th. Finally, Bank of America Corporation cut their price objective on shares of L Brands from $35.00 to $32.00 and set an “underperform” rating on the stock in a research report on Friday, August 18th. Seven analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $47.46.
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L Brands Company Profile
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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