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.
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%.
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.
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