L Brands Inc (LB) Shares Bought by KBC Group NV

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KBC Group NV lifted its stake in shares of L Brands Inc (NYSE:LB) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,545 shares of the specialty retailer’s stock after buying an additional 2,242 shares during the quarter. KBC Group NV’s holdings in L Brands were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in LB. Advisors Asset Management Inc. lifted its stake in L Brands by 57.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 323,881 shares of the specialty retailer’s stock worth $11,945,000 after acquiring an additional 118,729 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in L Brands by 17.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 51,659 shares of the specialty retailer’s stock worth $1,563,000 after acquiring an additional 7,508 shares in the last quarter. Bank of Montreal Can lifted its stake in L Brands by 42.5% in the 3rd quarter. Bank of Montreal Can now owns 152,047 shares of the specialty retailer’s stock worth $4,607,000 after acquiring an additional 45,378 shares in the last quarter. Supplemental Annuity Collective Trust of NJ purchased a new stake in L Brands in the 3rd quarter worth about $303,000. Finally, State of New Jersey Common Pension Fund D increased its position in L Brands by 51.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 667,000 shares of the specialty retailer’s stock worth $20,210,000 after purchasing an additional 227,000 shares during the last quarter. Institutional investors own 70.34% of the company’s stock.

In related news, Director Raymond Zimmerman sold 6,385 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $28.33, for a total transaction of $180,887.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.32% of the stock is owned by corporate insiders.

LB has been the topic of several research reports. Citigroup upped their target price on L Brands from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 12th. Zacks Investment Research reaffirmed a “buy” rating and issued a $35.00 target price on shares of L Brands in a research report on Tuesday, November 13th. Goldman Sachs Group initiated coverage on L Brands in a research report on Thursday, October 25th. They issued a “buy” rating and a $36.00 target price on the stock. FBR & Co set a $60.00 target price on L Brands and gave the stock a “buy” rating in a research report on Thursday, December 20th. Finally, B. Riley set a $44.00 target price on L Brands and gave the stock a “buy” rating in a research report on Friday, January 11th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.89.

Shares of NYSE LB opened at $27.12 on Tuesday. The stock has a market cap of $7.27 billion, a PE ratio of 8.48, a P/E/G ratio of 0.89 and a beta of 0.62. L Brands Inc has a 52 week low of $23.71 and a 52 week high of $50.53.

L Brands (NYSE:LB) last issued its quarterly earnings data on Monday, November 19th. The specialty retailer reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.70 billion. L Brands had a negative return on equity of 76.28% and a net margin of 5.81%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. Analysts expect that L Brands Inc will post 2.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 22nd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $1.20 annualized dividend and a yield of 4.42%. L Brands’s payout ratio is 75.00%.

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L Brands Company 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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Institutional Ownership by Quarter for L Brands (NYSE:LB)

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