Robecosam AG cut its position in shares of L Brands, Inc. (NYSE:LB) by 17.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,843 shares of the specialty retailer’s stock after selling 17,935 shares during the quarter. Robecosam AG’s holdings in L Brands were worth $4,543,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Norway Savings Bank increased its position in shares of L Brands by 0.5% during the 2nd quarter. Norway Savings Bank now owns 10,345 shares of the specialty retailer’s stock valued at $557,000 after purchasing an additional 50 shares during the last quarter. M&T Bank Corp increased its position in shares of L Brands by 0.3% during the 2nd quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock valued at $925,000 after purchasing an additional 53 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of L Brands by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock valued at $965,000 after purchasing an additional 83 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of L Brands by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock valued at $803,000 after purchasing an additional 100 shares during the last quarter. Finally, Financial Advisors Network Inc. increased its position in shares of L Brands by 2.8% during the 2nd quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock valued at $263,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.
Several equities analysts have recently commented on LB shares. Jefferies Group LLC set a $32.00 price objective on L Brands and gave the company a “sell” rating in a research report on Wednesday, July 19th. BidaskClub lowered L Brands from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $55.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Cowen and Company restated a “buy” rating and set a $56.00 price target on shares of L Brands in a research report on Tuesday, July 4th. Finally, Instinet reduced their price target on L Brands from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. Seven analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $46.41.
Shares of L Brands, Inc. (NYSE:LB) traded up 2.3012% on Friday, reaching $42.3834. The company’s stock had a trading volume of 375,396 shares. The firm has a market capitalization of $12.03 billion, a PE ratio of 12.4401 and a beta of 0.68. L Brands, Inc. has a one year low of $35.00 and a one year high of $75.50. The firm has a 50-day moving average price of $39.61 and a 200 day moving average price of $45.92.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. On average, analysts anticipate that L Brands, Inc. will post $3.13 earnings per share for the current fiscal year.
L Brands announced that its Board of Directors has approved a stock repurchase plan on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to buy up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other L Brands news, Director Allan R. Tessler acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was purchased at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the acquisition, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.68% of the company’s stock.
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L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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