Boltwood Capital Management Invests $989,000 in L Brands Inc (NYSE:LB)

Boltwood Capital Management bought a new position in shares of L Brands Inc (NYSE:LB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,425 shares of the specialty retailer’s stock, valued at approximately $989,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of L Brands by 29.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock worth $172,952,000 after buying an additional 935,259 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of L Brands during the 3rd quarter valued at $161,000. ICICI Prudential Asset Management Co Ltd grew its holdings in shares of L Brands by 14.9% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 11,600 shares of the specialty retailer’s stock valued at $483,000 after purchasing an additional 1,500 shares during the last quarter. IFM Investors Pty Ltd bought a new position in shares of L Brands during the 3rd quarter valued at $283,000. Finally, First Heartland Consultants Inc. bought a new position in shares of L Brands during the 3rd quarter valued at $832,000. 78.65% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director David T. Kollat bought 9,910 shares of the stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $50.34 per share, with a total value of $498,869.40. Following the completion of the acquisition, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 16.68% of the stock is currently owned by insiders.

Several equities analysts recently commented on LB shares. BMO Capital Markets set a $56.00 target price on shares of L Brands and gave the company a “hold” rating in a report on Tuesday, December 19th. Morgan Stanley reissued an “overweight” rating and set a $70.00 price target on shares of L Brands in a research report on Thursday, December 14th. Royal Bank of Canada raised shares of L Brands from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $40.00 to $58.00 in a research report on Friday, November 17th. B. Riley set a $58.00 price target on shares of L Brands and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, Robert W. Baird set a $60.00 price target on shares of L Brands and gave the company a “hold” rating in a research report on Thursday, December 28th. Six investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $51.86.

Shares of L Brands Inc (LB) traded down $0.74 during trading hours on Thursday, reaching $49.35. 2,723,508 shares of the company’s stock traded hands, compared to its average volume of 4,390,000. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60. L Brands Inc has a twelve month low of $35.00 and a twelve month high of $63.10. The stock has a market capitalization of $13,930.00, a P/E ratio of 15.05, a P/E/G ratio of 1.43 and a beta of 0.81.

L Brands (NYSE:LB) last issued its quarterly 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. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. research analysts expect that L Brands Inc will post 3.11 EPS for the current year.

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L Brands Company 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.

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

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