Mutual of America Capital Management LLC lowered its position in L Brands Inc (NYSE:LB) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,187 shares of the specialty retailer’s stock after selling 3,123 shares during the quarter. Mutual of America Capital Management LLC’s holdings in L Brands were worth $1,758,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new stake in L Brands during the 3rd quarter valued at $161,000. IFP Advisors Inc boosted its position in L Brands by 52.1% during 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 L Brands during the 3rd quarter valued at $205,000. Allianz Asset Management GmbH bought a new stake in L Brands during the 3rd quarter valued at $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in L Brands during the 3rd quarter valued at $208,000. 78.48% of the stock is currently owned by institutional investors.
Shares of L Brands Inc (LB) opened at $48.54 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. 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 $13,746.32, a PE ratio of 15.51, a P/E/G ratio of 1.25 and a beta of 0.61.
L Brands (NYSE:LB) last posted its quarterly earnings data 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 negative return on equity of 101.19% and a net margin of 7.73%. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the firm posted $0.42 EPS. L Brands’s revenue was up 1.4% compared to the same quarter last year. equities research analysts anticipate that L Brands Inc will post 3.13 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.94%. The ex-dividend date is Thursday, February 22nd. L Brands’s payout ratio is 72.95%.
In other news, Director David T. Kollat acquired 9,910 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the acquisition, the director now owns 158,878 shares in the company, valued at approximately $7,997,918.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.68% of the company’s stock.
Several analysts have issued reports on LB shares. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 target price on shares of L Brands in a research report on Thursday, December 14th. B. Riley reaffirmed a “buy” rating and set a $58.00 target price on shares of L Brands in a research report on Wednesday, November 29th. CIBC reaffirmed a “hold” rating and set a $60.00 target price on shares of L Brands in a research report on Friday, December 8th. Royal Bank of Canada raised L Brands from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $40.00 to $58.00 in a research report on Friday, November 17th. Finally, Citigroup increased their target price on L Brands from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $52.30.
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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.
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