Stone Ridge Asset Management LLC raised its position in L Brands Inc (NYSE:LB) by 88.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,604 shares of the specialty retailer’s stock after buying an additional 36,870 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in L Brands were worth $2,018,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kwmg LLC grew its holdings in L Brands by 6.2% in the 4th quarter. Kwmg LLC now owns 74,293 shares of the specialty retailer’s stock valued at $1,907,000 after buying an additional 4,309 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of L Brands by 7.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,092 shares of the specialty retailer’s stock worth $3,790,000 after purchasing an additional 9,200 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of L Brands during the 3rd quarter worth $130,000. Radin Capital Partners Inc. acquired a new stake in shares of L Brands during the 3rd quarter worth $11,090,000. Finally, Man Group plc grew its holdings in shares of L Brands by 266.8% during the 3rd quarter. Man Group plc now owns 219,687 shares of the specialty retailer’s stock worth $6,657,000 after purchasing an additional 159,791 shares in the last quarter. 71.17% of the stock is currently owned by hedge funds and other institutional investors.
L Brands stock traded up $0.31 during trading hours on Tuesday, hitting $27.76. The stock had a trading volume of 692,201 shares, compared to its average volume of 5,141,098. The company has a market capitalization of $7.31 billion, a PE ratio of 9.84, a P/E/G ratio of 1.02 and a beta of 0.55. L Brands Inc has a one year low of $23.71 and a one year high of $40.65.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, February 27th. The specialty retailer reported $2.14 EPS for the quarter, beating the consensus estimate of $2.07 by $0.07. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.90 billion. L Brands had a negative return on equity of 69.36% and a net margin of 4.86%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $2.11 earnings per share. On average, equities research analysts forecast that L Brands Inc will post 2.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 22nd were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $1.20 annualized dividend and a yield of 4.32%. L Brands’s dividend payout ratio is presently 42.55%.
Several analysts have recently issued reports on the company. DA Davidson reduced their target price on L Brands to $26.00 and set a “neutral” rating on the stock in a report on Friday, March 1st. Telsey Advisory Group reissued a “market perform” rating and set a $28.00 target price (down from $31.00) on shares of L Brands in a report on Friday, March 1st. Sanford C. Bernstein lowered L Brands from an “outperform” rating to a “market perform” rating and set a $30.00 target price on the stock. in a report on Friday, March 1st. Barclays raised L Brands from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Friday, March 1st. Finally, Wells Fargo & Co set a $42.00 price objective on L Brands and gave the stock a “buy” rating in a research report on Thursday, February 28th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $33.58.
About L Brands
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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