Louisiana State Employees Retirement System increased its position in shares of L Brands, Inc. (NYSE:LB) by 0.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,900 shares of the specialty retailer’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in L Brands were worth $803,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its stake in shares of L Brands by 64.8% in the second quarter. Nisa Investment Advisors LLC now owns 89,665 shares of the specialty retailer’s stock worth $4,759,000 after buying an additional 35,250 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of L Brands by 6.3% in the second quarter. LS Investment Advisors LLC now owns 8,662 shares of the specialty retailer’s stock worth $467,000 after buying an additional 515 shares in the last quarter. Windward Capital Management Co. CA boosted its stake in shares of L Brands by 1.4% in the second quarter. Windward Capital Management Co. CA now owns 59,529 shares of the specialty retailer’s stock worth $3,208,000 after buying an additional 842 shares in the last quarter. Norway Savings Bank boosted its stake in shares of L Brands by 0.5% in the second quarter. Norway Savings Bank now owns 10,345 shares of the specialty retailer’s stock worth $557,000 after buying an additional 50 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of L Brands by 508.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 39,432 shares of the specialty retailer’s stock worth $2,125,000 after buying an additional 32,949 shares in the last quarter. Institutional investors own 75.20% of the company’s stock.
L Brands, Inc. (NYSE LB) traded down 0.78% during mid-day trading on Monday, hitting $40.56. The stock had a trading volume of 4,457,184 shares. L Brands, Inc. has a one year low of $40.49 and a one year high of $79.67. The stock’s 50 day moving average price is $46.63 and its 200 day moving average price is $50.65. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 10.68 and a beta of 0.62.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. Analysts forecast that L Brands, Inc. will post $3.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued 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 5.92%. L Brands’s payout ratio is currently 63.16%.
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LB has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated a “hold” rating on shares of L Brands in a research note on Tuesday, April 18th. Vetr cut shares of L Brands from a “strong-buy” rating to a “buy” rating and set a $55.51 price target on the stock. in a research report on Monday, April 24th. Zacks Investment Research upgraded shares of L Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Buckingham Research reiterated a “buy” rating on shares of L Brands in a research report on Wednesday, April 26th. Finally, Jefferies Group LLC set a $35.00 price target on shares of L Brands and gave the stock a “sell” rating in a research report on Thursday, May 4th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $55.76.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction on Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the completion of the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.45% of the company’s stock.
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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