SkyBridge Capital II LLC Has $9.96 Million Stake in L Brands Inc (LB)

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.

COPYRIGHT VIOLATION NOTICE: “SkyBridge Capital II LLC Has $9.96 Million Stake in L Brands Inc (LB)” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2017/12/06/skybridge-capital-ii-llc-has-9-96-million-stake-in-l-brands-inc-lb.html.

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.

Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L Brands Inc (NYSE:LB).

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

Receive News & Ratings for L Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply