Advent Capital Management DE lowered its stake in shares of L Brands, Inc. (NYSE:LB) by 96.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,000 shares of the company’s stock after selling 1,550,000 shares during the period. Advent Capital Management DE’s holdings in L Brands were worth $4,600,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Stephens Inc. AR raised its stake in L Brands by 0.4% in the third quarter. Stephens Inc. AR now owns 9,242 shares of the company’s stock worth $654,000 after buying an additional 33 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in L Brands by 0.7% in the third quarter. Stratos Wealth Partners LTD. now owns 7,673 shares of the company’s stock worth $543,000 after buying an additional 56 shares in the last quarter. Alpha Cubed Investments LLC raised its stake in L Brands by 2.7% in the third quarter. Alpha Cubed Investments LLC now owns 3,320 shares of the company’s stock worth $235,000 after buying an additional 86 shares in the last quarter. Verition Fund Management LLC raised its stake in L Brands by 0.9% in the third quarter. Verition Fund Management LLC now owns 10,147 shares of the company’s stock worth $718,000 after buying an additional 87 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in L Brands by 6.2% in the third quarter. Quadrant Capital Group LLC now owns 2,365 shares of the company’s stock worth $161,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 74.20% of the company’s stock.
L Brands, Inc. (NYSE:LB) traded down 0.56% during trading on Monday, hitting $58.59. 783,711 shares of the company traded hands. L Brands, Inc. has a 52 week low of $57.48 and a 52 week high of $88.77. The company’s 50 day moving average is $61.65 and its 200-day moving average is $69.66. The stock has a market capitalization of $16.75 billion, a PE ratio of 14.74 and a beta of 0.82.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, November 16th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm earned $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. L Brands’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. Analysts predict that L Brands, Inc. will post $3.61 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Investors of record on Friday, February 17th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Wednesday, February 15th. L Brands’s payout ratio is currently 60.61%.
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A number of equities research analysts recently weighed in on LB shares. Wolfe Research lowered their target price on shares of L Brands from $67.00 to $62.00 and set a “peer perform” rating on the stock in a report on Friday, January 6th. Jefferies Group LLC set a $48.00 price objective on shares of L Brands and gave the stock a “sell” rating in a research report on Thursday, January 5th. FBR & Co set a $69.00 price objective on shares of L Brands and gave the stock a “hold” rating in a research report on Sunday, January 8th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $70.00 price objective (down from $82.00) on shares of L Brands in a research report on Wednesday, November 2nd. Finally, Zacks Investment Research downgraded shares of L Brands from a “buy” rating to a “hold” rating in a research report on Monday, October 24th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $72.47.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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