Avalon Global Asset Management LLC lifted its position in L Brands Inc (NYSE:LB) by 212.5% in the second quarter, HoldingsChannel.com reports. The firm owned 125,000 shares of the specialty retailer’s stock after acquiring an additional 85,000 shares during the period. L Brands accounts for approximately 1.7% of Avalon Global Asset Management LLC’s holdings, making the stock its 29th biggest position. Avalon Global Asset Management LLC’s holdings in L Brands were worth $4,610,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of L Brands in the 2nd quarter valued at about $104,000. Gradient Investments LLC acquired a new stake in shares of L Brands in the 2nd quarter valued at about $109,000. Private Capital Group LLC boosted its position in shares of L Brands by 6,777.3% in the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock valued at $111,000 after purchasing an additional 2,982 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of L Brands in the 1st quarter valued at about $117,000. Finally, Camarda Financial Advisors LLC acquired a new stake in shares of L Brands in the 1st quarter valued at about $131,000. 72.64% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on LB. Nomura increased their price objective on L Brands from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, June 7th. UBS Group began coverage on L Brands in a research report on Thursday, June 21st. They set a “neutral” rating and a $37.00 price objective for the company. B. Riley decreased their price objective on L Brands from $58.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, May 25th. Barclays reaffirmed a “hold” rating and set a $34.00 price objective on shares of L Brands in a research report on Monday, May 28th. Finally, Deutsche Bank decreased their price objective on L Brands from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, May 24th. Six investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company. L Brands has a consensus rating of “Hold” and a consensus price target of $37.59.
LB opened at $27.06 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.56 and a debt-to-equity ratio of -5.90. The company has a market capitalization of $7.66 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 0.95 and a beta of 0.58. L Brands Inc has a 12 month low of $26.25 and a 12 month high of $63.10.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. L Brands had a negative return on equity of 88.04% and a net margin of 6.87%. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. research analysts forecast that L Brands Inc will post 2.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 24th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 8.87%. The ex-dividend date is Thursday, August 23rd. L Brands’s payout ratio is currently 75.00%.
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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