Hedeker Wealth LLC bought a new position in L Brands Inc. (NYSE:LB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,354 shares of the company’s stock, valued at approximately $493,000.
A number of other institutional investors have also recently made changes to their positions in LB. Loomis Sayles & Co. L P boosted its stake in 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 last quarter. Financial Architects Inc boosted its stake in 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 last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock worth $145,000 after buying an additional 124 shares during the last quarter. Finally, Boothbay Fund Management LLC boosted its stake in 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 last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.
L Brands Inc. (NYSE:LB) traded down 1.34% during trading on Monday, reaching $72.25. 1,222,764 shares of the company’s stock were exchanged. The company has a market cap of $20.66 billion, a P/E ratio of 17.61 and a beta of 0.91. L Brands Inc. has a 12-month low of $60.00 and a 12-month high of $101.11. The stock’s 50-day moving average is $72.75 and its 200-day moving average is $72.90.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $2.89 billion for the quarter. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Analysts predict that L Brands Inc. will post $3.83 EPS for the current fiscal year.
A number of research firms have commented on LB. Nomura restated a “hold” rating on shares of L Brands in a report on Saturday, July 9th. Robert W. Baird set a $80.00 price target on shares of L Brands and gave the stock a “neutral” rating in a report on Friday, September 2nd. Deutsche Bank AG restated a “buy” rating on shares of L Brands in a report on Sunday, July 10th. FBR & Co set a $75.00 price target on shares of L Brands and gave the stock a “hold” rating in a report on Saturday, October 8th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $90.00 price target on shares of L Brands in a report on Saturday, September 3rd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $78.32.
In other L Brands news, insider Martin P. Waters sold 45,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following 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 document filed with the SEC, which is available through this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total transaction of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is currently owned by corporate insiders.
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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