L Brands, Inc. (LB) Shares Bought by Sei Investments Co.
Sei Investments Co. increased its holdings in shares of L Brands, Inc. (NYSE:LB) by 9.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 268,683 shares of the specialty retailer’s stock after buying an additional 23,501 shares during the quarter. Sei Investments Co. owned 0.09% of L Brands worth $11,181,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of LB. M&T Bank Corp grew its holdings in shares of L Brands by 0.3% in the 2nd quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock valued at $925,000 after acquiring an additional 53 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of L Brands by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock valued at $965,000 after acquiring an additional 83 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of L Brands by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock valued at $803,000 after acquiring an additional 100 shares in the last quarter. Financial Advisors Network Inc. grew its holdings in shares of L Brands by 2.8% in the 2nd quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock valued at $263,000 after acquiring an additional 134 shares in the last quarter. Finally, State Treasurer State of Michigan grew its holdings in shares of L Brands by 0.3% in the 2nd quarter. State Treasurer State of Michigan now owns 79,144 shares of the specialty retailer’s stock valued at $4,265,000 after acquiring an additional 200 shares in the last quarter. 80.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of L Brands, Inc. (NYSE LB) opened at $50.48 on Friday. The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05. The company has a market cap of $14,328.55, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.39 and a beta of 0.67. L Brands, Inc. has a one year low of $35.00 and a one year high of $75.50.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 110.21%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. equities research analysts forecast that L Brands, Inc. will post 3.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Wednesday, November 22nd. L Brands’s dividend payout ratio is currently 72.95%.
L Brands declared that its board has approved a stock buyback program on Monday, September 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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LB has been the subject of several analyst reports. Royal Bank Of Canada restated a “hold” rating and issued a $55.00 price objective on shares of L Brands in a report on Monday, July 24th. FBR & Co restated an “outperform” rating and issued a $60.00 price objective on shares of L Brands in a report on Thursday, July 27th. BidaskClub cut L Brands from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Deutsche Bank AG reiterated a “buy” rating and set a $60.00 price target on shares of L Brands in a report on Tuesday, August 1st. Finally, UBS AG reduced their price target on L Brands from $52.00 to $44.00 and set a “neutral” rating for the company in a report on Friday, August 4th. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.11.
In related news, Director Allan R. Tessler bought 20,000 shares of L Brands stock in a transaction dated Thursday, September 21st. The stock was purchased at an average cost of $37.00 per share, with a total value of $740,000.00. Following the transaction, the director now directly owns 43,342 shares of the company’s stock, valued at $1,603,654. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.68% of the stock is owned by corporate insiders.
L Brands 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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