L Brands, Inc. (NYSE:LB) Shares Sold by New York State Common Retirement Fund

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New York State Common Retirement Fund decreased its position in L Brands, Inc. (NYSE:LB) by 39.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 348,300 shares of the specialty retailer’s stock after selling 230,467 shares during the period. New York State Common Retirement Fund owned about 0.13% of L Brands worth $11,079,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LB. Creative Financial Designs Inc. ADV grew its holdings in L Brands by 268.1% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,491 shares of the specialty retailer’s stock valued at $47,000 after purchasing an additional 1,086 shares during the last quarter. Captrust Financial Advisors acquired a new stake in L Brands in the second quarter valued at $58,000. Global Retirement Partners LLC purchased a new stake in shares of L Brands in the third quarter valued at $64,000. Cerebellum GP LLC purchased a new stake in shares of L Brands in the third quarter valued at $65,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of L Brands by 610.3% in the second quarter. Rockefeller Capital Management L.P. now owns 4,695 shares of the specialty retailer’s stock valued at $70,000 after acquiring an additional 4,034 shares in the last quarter. 76.89% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on the company. Morgan Stanley upped their price objective on L Brands from $30.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday. ValuEngine upgraded L Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st. Royal Bank of Canada upped their price objective on L Brands from $30.00 to $42.00 and gave the company a “sector perform” rating in a research report on Friday. They noted that the move was a valuation call. Loop Capital upped their price objective on L Brands from $15.00 to $25.00 and gave the company a “sell” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on L Brands from $39.00 to $48.00 and gave the company a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $33.76.

LB stock opened at $39.97 on Friday. L Brands, Inc. has a 1 year low of $8.00 and a 1 year high of $40.79. The firm has a market cap of $11.11 billion, a P/E ratio of -13.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.62. The stock has a 50-day simple moving average of $33.40 and a 200-day simple moving average of $24.14.

L Brands (NYSE:LB) last posted its earnings results on Tuesday, November 17th. The specialty retailer reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $1.04. L Brands had a negative return on equity of 19.91% and a negative net margin of 6.96%. As a group, research analysts expect that L Brands, Inc. will post 1.26 EPS for the current fiscal year.

In related news, insider James L. Bersani sold 28,373 shares of L Brands stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $30.00, for a total value of $851,190.00. Following the completion of the sale, the insider now owns 242,339 shares in the company, valued at $7,270,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.83% of the stock is currently owned by company insiders.

L Brands Profile

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, personal care, and beauty and home fragrance products. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include bras and panties, loungewear, athletic attire, shower gels and lotions, aromatherapy, soaps and sanitizers, and body care accessories.

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

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