L Brands, Inc. (LB) Shares Bought by Norinchukin Bank The
Norinchukin Bank The grew its position in L Brands, Inc. (NYSE:LB) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,021 shares of the specialty retailer’s stock after acquiring an additional 413 shares during the period. Norinchukin Bank The’s holdings in L Brands were worth $1,025,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of LB. BlackRock Inc. raised its stake in shares of L Brands by 3,863.4% in the first quarter. BlackRock Inc. now owns 19,000,928 shares of the specialty retailer’s stock valued at $894,945,000 after acquiring an additional 18,521,518 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of L Brands by 86.8% in 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 acquiring an additional 6,745,624 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of L Brands by 16.1% in 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 acquiring an additional 2,600,605 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of L Brands in the first quarter valued at approximately $101,243,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of L Brands by 45.6% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,221,251 shares of the specialty retailer’s stock valued at $151,721,000 after acquiring an additional 1,008,270 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.
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L Brands, Inc. (LB) opened at 40.54 on Monday. 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 52 week low of $35.00 and a 52 week high of $75.94. The firm 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 results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted $0.70 earnings per share. On average, equities analysts forecast that L Brands, Inc. will post $3.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date was Wednesday, August 16th. L Brands’s payout ratio is 70.38%.
LB has been the subject of several research analyst reports. Jefferies Group LLC set a $30.00 price objective on shares of L Brands and gave the stock a “sell” rating in a research report on Monday, August 28th. FBR & Co restated an “outperform” rating and issued a $60.00 price objective on shares of L Brands in a research report on Thursday, July 27th. Credit Suisse Group set a $47.00 price objective on shares of L Brands and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Vetr upgraded shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.89 price objective for the company in a research report on Monday, June 5th. Finally, Robert W. Baird restated a “hold” rating and issued a $44.00 price objective on shares of L Brands in a research report on Friday, September 1st. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.46.
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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