Daiwa Securities Group Inc. increased its stake in L Brands Inc (NYSE:LB) by 32.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,347 shares of the specialty retailer’s stock after acquiring an additional 16,328 shares during the quarter. Daiwa Securities Group Inc.’s holdings in L Brands were worth $4,056,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in LB. Steward Partners Investment Advisory LLC bought a new stake in shares of L Brands in the 3rd quarter valued at $161,000. IFP Advisors Inc increased its stake in shares of L Brands by 52.1% in the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after acquiring an additional 1,618 shares in the last quarter. Chesapeake Asset Management LLC bought a new stake in shares of L Brands in the 3rd quarter valued at $205,000. Allianz Asset Management GmbH bought a new stake in shares of L Brands in the 3rd quarter valued at $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of L Brands in the 3rd quarter valued at $208,000. Institutional investors own 78.48% of the company’s stock.
Shares of L Brands Inc (LB) opened at $48.70 on Tuesday. L Brands Inc has a one year low of $35.00 and a one year high of $63.10. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. The stock has a market cap of $13,732.20, a price-to-earnings ratio of 15.49, a PEG ratio of 1.25 and a beta of 0.61.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The business’s revenue was up 1.4% compared to the same quarter last year. research analysts expect that L Brands Inc will post 3.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a $0.60 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $2.40 annualized dividend and a dividend yield of 4.93%. L Brands’s payout ratio is 72.95%.
A number of brokerages have commented on LB. Wolfe Research boosted their price target on shares of L Brands from $48.00 to $53.00 and gave the company a “peer perform” rating in a research note on Monday. Scotiabank restated a “hold” rating and set a $67.00 price target on shares of L Brands in a research note on Wednesday, November 22nd. Telsey Advisory Group restated an “outperform” rating and set a $64.00 price target (up previously from $60.00) on shares of L Brands in a research note on Tuesday, November 28th. Robert W. Baird set a $60.00 price target on shares of L Brands and gave the company a “hold” rating in a research note on Thursday, December 28th. Finally, Cowen restated a “hold” rating and set a $49.00 price target on shares of L Brands in a research note on Thursday, February 8th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and thirteen have issued a buy rating to the company’s stock. L Brands has an average rating of “Hold” and a consensus price target of $52.30.
In related news, Director David T. Kollat purchased 9,910 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of $50.34 per share, with a total value of $498,869.40. Following the acquisition, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.68% of the company’s stock.
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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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