L Brands, Inc. (NYSE:LB) Position Decreased by Texas Permanent School Fund

Texas Permanent School Fund decreased its stake in shares of L Brands, Inc. (NYSE:LB) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 67,700 shares of the specialty retailer’s stock after selling 2,484 shares during the period. Texas Permanent School Fund’s holdings in L Brands were worth $3,648,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Teachers Advisors LLC increased its position in shares of L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock valued at $19,647,000 after buying an additional 18,142 shares during the period. Lincoln National Corp increased its position in shares of L Brands by 51.5% in the first quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock valued at $1,668,000 after buying an additional 12,045 shares during the period. Old Mutual Global Investors UK Ltd. increased its position in shares of L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock valued at $1,129,000 after buying an additional 18,575 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of L Brands during the first quarter valued at approximately $1,681,000. Finally, Coronation Fund Managers Ltd. increased its position in shares of L Brands by 18.1% in the second quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock valued at $52,045,000 after buying an additional 148,076 shares during the period. 75.55% of the stock is owned by hedge funds and other institutional investors.

L Brands, Inc. (NYSE LB) opened at 41.60 on Friday. The stock has a 50 day moving average of $48.88 and a 200 day moving average of $51.51. L Brands, Inc. has a 52 week low of $41.28 and a 52 week high of $79.67. The company has a market cap of $11.93 billion, a P/E ratio of 10.96 and a beta of 0.62.

L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. On average, analysts expect that L Brands, Inc. will post $3.24 earnings per share for the current year.

Several equities analysts recently issued reports on the stock. FBR & Co reiterated an “outperform” rating and set a $60.00 price target on shares of L Brands in a research report on Wednesday, May 31st. Buckingham Research reiterated a “buy” rating on shares of L Brands in a research report on Wednesday, April 26th. Oppenheimer Holdings, Inc. set a $62.00 price target on shares of L Brands and gave the company a “buy” rating in a research report on Thursday, May 4th. Instinet reiterated a “neutral” rating and set a $48.00 price target (down previously from $52.00) on shares of L Brands in a research report on Sunday, April 9th. Finally, Vetr upgraded shares of L Brands from a “hold” rating to a “buy” rating and set a $53.07 price target on the stock in a research report on Thursday, May 4th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. L Brands has a consensus rating of “Hold” and a consensus price target of $56.49.

In other news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the transaction, the chief executive officer now owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.45% of the stock is owned by insiders.

About L Brands

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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