Wealthfront Advisers LLC increased its position in L Brands Inc (NYSE:LB) by 2.2% in the first quarter, Holdings Channel reports. The fund owned 25,486 shares of the specialty retailer’s stock after purchasing an additional 555 shares during the period. Wealthfront Advisers LLC’s holdings in L Brands were worth $703,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LB. American International Group Inc. raised its holdings in L Brands by 25.4% in the 4th quarter. American International Group Inc. now owns 12,224,858 shares of the specialty retailer’s stock worth $313,812,000 after acquiring an additional 2,472,416 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in L Brands by 47.0% in the 4th quarter. Bank of New York Mellon Corp now owns 7,464,698 shares of the specialty retailer’s stock worth $191,619,000 after acquiring an additional 2,385,201 shares during the last quarter. Norges Bank purchased a new position in L Brands in the 4th quarter worth approximately $60,190,000. Thompson Siegel & Walmsley LLC purchased a new position in L Brands in the 1st quarter worth approximately $28,618,000. Finally, SRS Investment Management LLC raised its holdings in L Brands by 24.8% in the 4th quarter. SRS Investment Management LLC now owns 3,137,935 shares of the specialty retailer’s stock worth $80,551,000 after acquiring an additional 623,521 shares during the last quarter. Institutional investors own 69.23% of the company’s stock.
Shares of LB opened at $22.51 on Friday. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 7.98, a P/E/G ratio of 0.84 and a beta of 0.58. L Brands Inc has a 1-year low of $21.44 and a 1-year high of $38.00.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.56 billion. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. L Brands’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. As a group, equities research analysts predict that L Brands Inc will post 2.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 5.33%. L Brands’s dividend payout ratio (DPR) is 42.55%.
A number of brokerages recently weighed in on LB. Zacks Investment Research lowered shares of L Brands from a “hold” rating to a “sell” rating in a report on Monday, May 13th. UBS Group boosted their price objective on shares of L Brands from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Credit Suisse Group decreased their price objective on shares of L Brands from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 28th. Bank of America set a $30.00 price objective on shares of L Brands and gave the stock a “hold” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Co set a $35.00 price objective on shares of L Brands and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. L Brands currently has a consensus rating of “Hold” and an average target price of $31.96.
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L Brands Company Profile
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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