Pearl River Capital LLC Takes Position in L Brands Inc (NYSE:LB)

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Pearl River Capital LLC purchased a new stake in shares of L Brands Inc (NYSE:LB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 41,131 shares of the specialty retailer’s stock, valued at approximately $616,000.

Several other institutional investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised its holdings in L Brands by 2.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 32,378 shares of the specialty retailer’s stock worth $485,000 after acquiring an additional 741 shares during the period. New Mexico Educational Retirement Board raised its holdings in L Brands by 6.8% in the 2nd quarter. New Mexico Educational Retirement Board now owns 15,606 shares of the specialty retailer’s stock worth $234,000 after acquiring an additional 1,000 shares during the period. Texas Permanent School Fund raised its holdings in L Brands by 2.7% in the 1st quarter. Texas Permanent School Fund now owns 42,189 shares of the specialty retailer’s stock worth $488,000 after acquiring an additional 1,095 shares during the period. Mackay Shields LLC raised its holdings in L Brands by 3.7% in the 2nd quarter. Mackay Shields LLC now owns 36,038 shares of the specialty retailer’s stock worth $539,000 after acquiring an additional 1,270 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in L Brands by 4.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 45,700 shares of the specialty retailer’s stock worth $684,000 after acquiring an additional 1,950 shares during the period. Institutional investors and hedge funds own 77.28% of the company’s stock.

Shares of LB traded up $1.25 on Thursday, reaching $29.72. 811,575 shares of the company’s stock were exchanged, compared to its average volume of 7,576,165. The stock has a market capitalization of $7.79 billion, a P/E ratio of -11.86, a price-to-earnings-growth ratio of 6.85 and a beta of 1.47. The business has a 50 day moving average price of $20.83 and a two-hundred day moving average price of $17.41. L Brands Inc has a 12 month low of $8.00 and a 12 month high of $29.14.

L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 19th. The specialty retailer reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.67. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.17 billion. L Brands had a negative net margin of 5.89% and a negative return on equity of 23.32%. L Brands’s revenue for the quarter was down 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. As a group, equities analysts forecast that L Brands Inc will post 0.32 EPS for the current fiscal year.

LB has been the topic of several research analyst reports. B. Riley raised their price target on shares of L Brands from $24.00 to $31.00 in a research report on Tuesday. TheStreet lowered shares of L Brands from a “c-” rating to a “d” rating in a research report on Monday, June 22nd. BMO Capital Markets lifted their target price on shares of L Brands from $25.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their target price on shares of L Brands from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, MKM Partners lifted their target price on shares of L Brands from $11.00 to $22.00 in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.26.

L Brands 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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Institutional Ownership by Quarter for L Brands (NYSE:LB)

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