Tokio Marine Asset Management Co. Ltd. decreased its position in L Brands Inc. (NYSE:LB) by 8.4% during the second quarter, Holdings Channel reports. The fund owned 6,708 shares of the company’s stock after selling 614 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in L Brands were worth $450,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P increased its position in shares of L Brands by 76.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the company’s stock worth $151,000 after buying an additional 741 shares during the period. Financial Architects Inc increased its position in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock worth $117,000 after buying an additional 631 shares during the period. Boothbay Fund Management LLC increased its position in shares of L Brands by 4.5% in the first quarter. Boothbay Fund Management LLC now owns 2,694 shares of the company’s stock worth $237,000 after buying an additional 117 shares during the period. Nikko Asset Management Americas Inc. acquired a new position in shares of L Brands during the first quarter worth about $247,000. Finally, BB&T Securities LLC acquired a new position in shares of L Brands during the first quarter worth about $261,000. Hedge funds and other institutional investors own 75.60% of the company’s stock.
L Brands Inc. (NYSE:LB) traded up 0.74% during mid-day trading on Monday, hitting $71.76. The company had a trading volume of 1,269,121 shares. The company’s 50 day moving average price is $73.51 and its 200-day moving average price is $73.30. The company has a market cap of $20.52 billion, a PE ratio of 17.49 and a beta of 0.91. L Brands Inc. has a one year low of $60.00 and a one year high of $101.11.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The firm had revenue of $2.89 billion for the quarter. During the same quarter last year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that L Brands Inc. will post $3.83 EPS for the current fiscal year.
A number of brokerages recently issued reports on LB. Nomura reaffirmed a “hold” rating on shares of L Brands in a report on Saturday, July 9th. Robert W. Baird set a $80.00 price objective on L Brands and gave the company a “neutral” rating in a report on Friday, September 2nd. Deutsche Bank AG reissued a “buy” rating on shares of L Brands in a report on Sunday, July 10th. FBR & Co set a $75.00 price objective on L Brands and gave the company a “hold” rating in a report on Saturday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $90.00 price objective on shares of L Brands in a report on Saturday, September 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. L Brands currently has a consensus rating of “Hold” and an average price target of $77.95.
In other news, insider Martin P. Waters sold 45,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the sale, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is owned by company insiders.
L Brands Company Profile
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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