Oppenheimer & Co. Inc. reduced its stake in L Brands Inc (NYSE:LB) by 31.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,621 shares of the specialty retailer’s stock after selling 5,891 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in L Brands were worth $760,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fosun International Ltd increased its position in L Brands by 205.4% in the 3rd quarter. Fosun International Ltd now owns 532,022 shares of the specialty retailer’s stock worth $22,137,000 after buying an additional 357,797 shares during the period. Alyeska Investment Group L.P. increased its position in L Brands by 4.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 855,019 shares of the specialty retailer’s stock worth $35,577,000 after buying an additional 33,005 shares during the period. California Public Employees Retirement System increased its position in L Brands by 7.0% in the 3rd quarter. California Public Employees Retirement System now owns 585,641 shares of the specialty retailer’s stock worth $24,369,000 after buying an additional 38,141 shares during the period. Private Capital Management Inc. increased its position in L Brands by 26.4% in the 3rd quarter. Private Capital Management Inc. now owns 12,700 shares of the specialty retailer’s stock worth $528,000 after buying an additional 2,650 shares during the period. Finally, Westpac Banking Corp increased its position in L Brands by 37.7% in the 3rd quarter. Westpac Banking Corp now owns 260,882 shares of the specialty retailer’s stock worth $10,855,000 after buying an additional 71,454 shares during the period. Hedge funds and other institutional investors own 80.36% of the company’s stock.
Several research analysts have commented on LB shares. Nomura lifted their price target on L Brands from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Robert W. Baird reaffirmed a “hold” rating and issued a $60.00 price target on shares of L Brands in a research report on Friday, December 22nd. Wolfe Research lifted their price target on L Brands from $48.00 to $53.00 and gave the stock a “peer perform” rating in a research report on Monday, February 12th. Piper Jaffray Companies set a $47.00 price target on L Brands and gave the stock a “hold” rating in a research report on Thursday, November 16th. Finally, Buckingham Research lifted their price target on L Brands from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. 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. The stock has an average rating of “Hold” and an average price target of $52.30.
Shares of L Brands Inc (LB) opened at $48.92 on Tuesday. L Brands Inc has a 1 year low of $35.00 and a 1 year high of $63.10. The firm has a market capitalization of $13,808.41, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.61. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Thursday, February 22nd. L Brands’s dividend payout ratio (DPR) is 72.95%.
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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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