HighPoint Advisor Group LLC Purchases New Position in L Brands Inc (LB)

HighPoint Advisor Group LLC purchased a new stake in L Brands Inc (NYSE:LB) during the 1st quarter, Holdings Channel reports. The firm purchased 9,683 shares of the specialty retailer’s stock, valued at approximately $235,000.

A number of other hedge funds have also modified their holdings of LB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in L Brands by 68.0% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 270,151 shares of the specialty retailer’s stock valued at $7,451,000 after buying an additional 109,367 shares during the last quarter. Sentry Investment Management LLC acquired a new position in L Brands in the 1st quarter valued at about $372,000. TD Asset Management Inc. grew its stake in L Brands by 1.1% in the 1st quarter. TD Asset Management Inc. now owns 292,795 shares of the specialty retailer’s stock valued at $8,075,000 after buying an additional 3,240 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in L Brands by 7.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,350 shares of the specialty retailer’s stock valued at $368,000 after buying an additional 892 shares during the last quarter. Finally, Alethea Capital Management LLC acquired a new position in L Brands in the 1st quarter valued at about $449,000. Hedge funds and other institutional investors own 69.26% of the company’s stock.

A number of research analysts recently commented on the stock. Wells Fargo & Co reiterated an “outperform” rating and issued a $35.00 price target (down previously from $42.00) on shares of L Brands in a research note on Thursday. Zacks Investment Research downgraded shares of L Brands from a “hold” rating to a “sell” rating in a report on Monday, May 13th. UBS Group boosted their price objective on shares of L Brands from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Loop Capital cut their price objective on shares of L Brands to $20.00 and set a “sell” rating for the company in a report on Wednesday, May 15th. Finally, Credit Suisse Group cut their price objective on shares of L Brands from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 28th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.08.

Shares of L Brands stock opened at $21.50 on Thursday. L Brands Inc has a 1-year low of $21.47 and a 1-year high of $38.14. The company has a market cap of $6.24 billion, a PE ratio of 7.62, a PEG ratio of 0.88 and a beta of 0.51.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share for the quarter. L Brands had a net margin of 4.86% and a negative return on equity of 73.73%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, research analysts forecast that L Brands Inc will post 2.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend is Thursday, May 30th. L Brands’s dividend payout ratio is 42.55%.

COPYRIGHT VIOLATION NOTICE: “HighPoint Advisor Group LLC Purchases New Position in L Brands Inc (LB)” was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright & trademark law. The original version of this piece of content can be read at https://www.baseballdailydigest.com/news/2019/05/23/highpoint-advisor-group-llc-purchases-new-position-in-l-brands-inc-lb.html.

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.

Read More: Net Income

Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L Brands Inc (NYSE:LB).

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

Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.