Steward Partners Investment Advisory LLC Has $254,000 Stock Holdings in L Brands Inc (NYSE:LB)

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Steward Partners Investment Advisory LLC trimmed its stake in shares of L Brands Inc (NYSE:LB) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,767 shares of the specialty retailer’s stock after selling 411 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in L Brands were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LB. Kessler Investment Group LLC acquired a new position in L Brands in the 1st quarter valued at approximately $67,000. Harel Insurance Investments & Financial Services Ltd. increased its position in L Brands by 1,594.9% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the specialty retailer’s stock valued at $83,000 after acquiring an additional 2,823 shares during the period. Investors Research Corp acquired a new position in L Brands in the 1st quarter valued at approximately $127,000. Northwestern Mutual Wealth Management Co. increased its position in L Brands by 65.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock valued at $130,000 after acquiring an additional 1,857 shares during the period. Finally, Trustcore Financial Services LLC acquired a new position in L Brands in the 2nd quarter valued at approximately $130,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

NYSE:LB opened at $22.67 on Wednesday. The company has a fifty day moving average price of $25.52. L Brands Inc has a 52 week low of $21.44 and a 52 week high of $38.00. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 0.86 and a beta of 0.69.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. L Brands had a net margin of 4.81% and a negative return on equity of 74.29%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the firm posted $0.17 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts expect that L Brands Inc will post 2.4 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Thursday, August 22nd. L Brands’s dividend payout ratio is currently 42.55%.

Several equities analysts have issued reports on LB shares. Odeon Capital Group started coverage on shares of L Brands in a research report on Friday, April 26th. They issued a “buy” rating for the company. Bank of America set a $30.00 price target on shares of L Brands and gave the company a “hold” rating in a research report on Thursday, May 23rd. Royal Bank of Canada set a $35.00 price target on shares of L Brands and gave the company a “buy” rating in a research report on Friday, May 24th. Wells Fargo & Co set a $35.00 price target on shares of L Brands and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research cut shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $31.17.

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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