AMP Capital Investors Ltd reduced its stake in L Brands Inc (NYSE:LB) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,188 shares of the specialty retailer’s stock after selling 9,300 shares during the period. AMP Capital Investors Ltd’s holdings in L Brands were worth $4,106,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. American International Group Inc. boosted its stake in shares of L Brands by 74.8% in the fourth quarter. American International Group Inc. now owns 10,436,938 shares of the specialty retailer’s stock valued at $628,512,000 after buying an additional 4,466,237 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in L Brands by 29.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after purchasing an additional 935,259 shares in the last quarter. Scharf Investments LLC raised its position in L Brands by 24.9% during the third quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock valued at $161,248,000 after purchasing an additional 772,740 shares in the last quarter. Ameriprise Financial Inc. raised its position in L Brands by 28.8% during the third quarter. Ameriprise Financial Inc. now owns 2,741,497 shares of the specialty retailer’s stock valued at $114,036,000 after purchasing an additional 613,680 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in L Brands by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 2,638,420 shares of the specialty retailer’s stock valued at $158,886,000 after purchasing an additional 40,263 shares in the last quarter. Institutional investors and hedge funds own 81.06% of the company’s stock.
L Brands Inc (NYSE LB) opened at $39.91 on Tuesday. The stock has a market cap of $11,448.68, a price-to-earnings ratio of 11.60, a PEG ratio of 1.11 and a beta of 0.59. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45. L Brands Inc has a 1-year low of $35.00 and a 1-year high of $63.10.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. L Brands had a net margin of 7.78% and a negative return on equity of 96.25%. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the prior year, the business earned $2.03 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. research analysts predict that L Brands Inc will post 3.17 EPS for the current fiscal year.
L Brands announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 8th that allows the company to repurchase $226.90 million in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.40 annualized dividend and a dividend yield of 6.01%. L Brands’s dividend payout ratio is 69.77%.
In related news, CFO Stuart B. Burgdoerfer sold 33,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total value of $1,403,490.00. Following the sale, the chief financial officer now owns 69,640 shares of the company’s stock, valued at $2,961,789.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 16.68% of the company’s stock.
LB has been the subject of several research analyst reports. Robert W. Baird restated a “hold” rating and set a $60.00 price objective on shares of L Brands in a research report on Friday, December 22nd. Telsey Advisory Group downgraded shares of L Brands from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $70.00 to $52.00 in a research report on Thursday, March 1st. Wolfe Research boosted their price objective on shares of L Brands from $48.00 to $53.00 and gave the company a “peer perform” rating in a research report on Monday, February 12th. BMO Capital Markets lowered their price objective on shares of L Brands from $56.00 to $45.00 and set a “market perform” rating for the company in a research report on Friday, March 2nd. Finally, Piper Jaffray Companies set a $49.00 price objective on shares of L Brands and gave the company a “hold” rating in a research report on Wednesday, January 10th. Seven equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.33.
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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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