Oppenheimer & Co. Inc. reduced its stake in shares of L Brands Inc (NYSE:LB) by 31.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,621 shares of the specialty retailer’s stock after selling 5,891 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in L Brands were worth $760,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in LB. Dimensional Fund Advisors LP grew its holdings in L Brands by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 479,066 shares of the specialty retailer’s stock worth $25,818,000 after acquiring an additional 2,760 shares during the period. Lord Abbett & CO. LLC grew its holdings in L Brands by 17.7% during the second quarter. Lord Abbett & CO. LLC now owns 400,200 shares of the specialty retailer’s stock worth $21,567,000 after acquiring an additional 60,056 shares during the period. Shell Asset Management Co. grew its holdings in L Brands by 23.7% during the third quarter. Shell Asset Management Co. now owns 54,029 shares of the specialty retailer’s stock worth $3,619,000 after acquiring an additional 10,336 shares during the period. Mutual of America Capital Management LLC grew its holdings in L Brands by 9.3% during the third quarter. Mutual of America Capital Management LLC now owns 32,310 shares of the specialty retailer’s stock worth $1,344,000 after acquiring an additional 2,736 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in L Brands by 32.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 202,986 shares of the specialty retailer’s stock worth $8,444,000 after acquiring an additional 49,357 shares during the period. 80.36% of the stock is currently owned by hedge funds and other institutional investors.
L Brands Inc (NYSE:LB) opened at $48.92 on Tuesday. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45. L Brands Inc has a 12 month low of $35.00 and a 12 month high of $63.10. The firm has a market capitalization of $13,808.41, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.61.
A number of research analysts recently issued reports on LB shares. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 target price on shares of L Brands in a report on Thursday, December 14th. B. Riley reaffirmed a “buy” rating and set a $58.00 target price on shares of L Brands in a report on Wednesday, November 29th. CIBC reaffirmed a “hold” rating and set a $60.00 target price on shares of L Brands in a report on Friday, December 8th. Citigroup lifted their target price on L Brands from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Royal Bank of Canada raised L Brands from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $58.00 in a report on Friday, November 17th. Six investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $52.30.
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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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