US Bancorp DE raised its position in L Brands, Inc. (NYSE:LB) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,761 shares of the specialty retailer’s stock after buying an additional 1,514 shares during the period. US Bancorp DE’s holdings in L Brands were worth $796,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of LB. BlackRock Inc. raised its stake in L Brands by 3,863.4% in the first quarter. BlackRock Inc. now owns 19,000,928 shares of the specialty retailer’s stock worth $894,945,000 after buying an additional 18,521,518 shares in the last quarter. Wellington Management Group LLP raised its stake in L Brands by 86.8% in the first quarter. Wellington Management Group LLP now owns 14,514,565 shares of the specialty retailer’s stock worth $683,636,000 after buying an additional 6,745,624 shares in the last quarter. Primecap Management Co. CA raised its stake in L Brands by 16.1% in the first quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock worth $885,383,000 after buying an additional 2,600,605 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in L Brands during the first quarter worth $101,243,000. Finally, American Century Companies Inc. raised its stake in L Brands by 4,831.7% in the first quarter. American Century Companies Inc. now owns 1,536,226 shares of the specialty retailer’s stock worth $72,356,000 after buying an additional 1,505,076 shares in the last quarter. Institutional investors own 75.43% of the company’s stock.
L Brands, Inc. (NYSE:LB) traded down 0.87% on Friday, reaching $40.88. 3,752,253 shares of the company traded hands. The stock’s 50-day moving average is $46.63 and its 200-day moving average is $50.65. L Brands, Inc. has a 1-year low of $40.77 and a 1-year high of $79.67. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 10.77 and a beta of 0.62.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.46 billion. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 earnings per share. Equities research analysts expect that L Brands, Inc. will post $3.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.40 annualized dividend and a yield of 5.87%. L Brands’s dividend payout ratio (DPR) is 63.16%.
A number of equities research analysts recently weighed in on LB shares. Buckingham Research restated a “buy” rating on shares of L Brands in a report on Wednesday, April 26th. Jefferies Group LLC set a $35.00 target price on shares of L Brands and gave the stock a “sell” rating in a report on Tuesday, July 4th. Deutsche Bank AG lowered their target price on shares of L Brands from $62.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, May 5th. Vetr raised shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.89 price objective for the company in a research report on Monday, June 5th. Finally, Zacks Investment Research raised shares of L Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.76.
In related news, CEO Nicholas Coe sold 39,839 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the sale, the chief executive officer now directly owns 75,658 shares in the company, valued at $3,698,163.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.45% of the company’s stock.
L Brands Company 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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