Gyroscope Capital Management Group LLC grew its holdings in shares of L Brands Inc (NYSE:LB) by 28.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,031 shares of the specialty retailer’s stock after acquiring an additional 84,521 shares during the period. L Brands comprises approximately 2.8% of Gyroscope Capital Management Group LLC’s holdings, making the stock its 15th largest position. Gyroscope Capital Management Group LLC owned about 0.14% of L Brands worth $7,090,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Empirical Finance LLC boosted its holdings in L Brands by 1.1% in the 2nd quarter. Empirical Finance LLC now owns 39,800 shares of the specialty retailer’s stock worth $1,039,000 after buying an additional 423 shares during the period. Van Hulzen Asset Management LLC boosted its holdings in L Brands by 0.9% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 56,949 shares of the specialty retailer’s stock worth $1,486,000 after buying an additional 505 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in L Brands by 2.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 24,259 shares of the specialty retailer’s stock worth $633,000 after buying an additional 542 shares during the period. Wealthfront Advisers LLC boosted its holdings in L Brands by 2.2% in the 1st quarter. Wealthfront Advisers LLC now owns 25,486 shares of the specialty retailer’s stock worth $703,000 after buying an additional 555 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in L Brands by 0.6% in the 2nd quarter. Retirement Systems of Alabama now owns 106,965 shares of the specialty retailer’s stock worth $2,792,000 after buying an additional 636 shares during the period. 69.76% of the stock is owned by hedge funds and other institutional investors.
Shares of LB traded up $0.88 during midday trading on Friday, hitting $17.72. 318,140 shares of the company traded hands, compared to its average volume of 5,187,519. The firm has a 50 day moving average of $18.01 and a 200-day moving average of $23.11. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 6.28, a PEG ratio of 0.64 and a beta of 0.81. L Brands Inc has a 52 week low of $15.82 and a 52 week high of $38.00.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. On average, equities analysts anticipate that L Brands Inc will post 2.4 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 30th. L Brands’s dividend payout ratio is 42.55%.
LB has been the subject of several recent analyst reports. DA Davidson set a $20.00 target price on shares of L Brands and gave the stock a “hold” rating in a report on Friday, August 23rd. Zacks Investment Research downgraded shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 price objective for the company. in a report on Wednesday, July 31st. B. Riley set a $30.00 price objective on shares of L Brands and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup dropped their price objective on shares of L Brands from $27.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, August 23rd. Finally, Jefferies Financial Group set a $14.00 price objective on shares of L Brands and gave the company a “sell” rating in a report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company. L Brands has a consensus rating of “Hold” and an average price target of $26.33.
About L Brands
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.
Further Reading: Special Dividends
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