SkyBridge Capital II LLC decreased its holdings in shares of L Brands Inc (NYSE:LB) by 17.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,376 shares of the specialty retailer’s stock after selling 50,986 shares during the quarter. L Brands comprises about 2.9% of SkyBridge Capital II LLC’s investment portfolio, making the stock its 23rd biggest position. SkyBridge Capital II LLC owned about 0.08% of L Brands worth $9,960,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Allianz Asset Management GmbH purchased a new position in shares of L Brands in the 3rd quarter worth $206,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of L Brands by 1.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 126,522 shares of the specialty retailer’s stock worth $5,287,000 after buying an additional 1,500 shares during the period. Mackenzie Financial Corp raised its position in shares of L Brands by 92.4% in the 3rd quarter. Mackenzie Financial Corp now owns 71,607 shares of the specialty retailer’s stock worth $2,980,000 after buying an additional 34,385 shares during the period. Stifel Financial Corp raised its position in shares of L Brands by 51.1% in the 3rd quarter. Stifel Financial Corp now owns 16,688 shares of the specialty retailer’s stock worth $694,000 after buying an additional 5,644 shares during the period. Finally, JNBA Financial Advisors raised its position in shares of L Brands by 25.7% in the 3rd quarter. JNBA Financial Advisors now owns 6,350 shares of the specialty retailer’s stock worth $264,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.
Several research analysts have commented on the company. Robert W. Baird set a $52.00 price objective on L Brands and gave the company a “hold” rating in a research report on Friday, December 1st. Telsey Advisory Group raised their price objective on L Brands from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday. B. Riley reissued a “buy” rating and issued a $58.00 price objective on shares of L Brands in a research report on Wednesday, November 29th. Buckingham Research raised their price objective on L Brands from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, November 17th. Finally, Piper Jaffray Companies set a $47.00 price objective on L Brands and gave the company a “hold” rating in a research report on Thursday, November 16th. Six equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.07.
In other news, Director David T. Kollat purchased 9,910 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the purchase, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Allan R. Tessler purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was purchased at an average price of $37.00 per share, with a total value of $740,000.00. Following the completion of the purchase, the director now directly owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The disclosure for this purchase can be found here. 16.68% of the stock is currently owned by company insiders.
Shares of L Brands Inc (NYSE:LB) traded down $1.80 during trading on Wednesday, hitting $55.30. The stock had a trading volume of 2,740,200 shares, compared to its average volume of 4,238,115. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. The firm has a market capitalization of $16,117.34, a P/E ratio of 18.18, a PEG ratio of 1.58 and a beta of 0.81. L Brands Inc has a 12 month low of $35.00 and a 12 month high of $75.50.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. sell-side analysts expect that L Brands Inc will post 3.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 4.34%. L Brands’s dividend payout ratio (DPR) is 72.95%.
L Brands declared that its board has approved a share buyback program on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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L Brands 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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