LPL Financial LLC boosted its stake in shares of L Brands (NYSE:LB) by 55.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,778 shares of the specialty retailer’s stock after purchasing an additional 8,131 shares during the period. LPL Financial LLC’s holdings in L Brands were worth $1,372,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of LB. Nationwide Fund Advisors increased its holdings in L Brands by 196.0% during the third quarter. Nationwide Fund Advisors now owns 198,362 shares of the specialty retailer’s stock valued at $8,254,000 after buying an additional 131,359 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in L Brands by 7.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 907,515 shares of the specialty retailer’s stock valued at $37,762,000 after buying an additional 62,822 shares during the last quarter. BB&T Securities LLC increased its holdings in L Brands by 56.8% during the third quarter. BB&T Securities LLC now owns 20,604 shares of the specialty retailer’s stock valued at $857,000 after buying an additional 7,466 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in L Brands by 7.6% during the third quarter. Dimensional Fund Advisors LP now owns 515,613 shares of the specialty retailer’s stock valued at $21,459,000 after buying an additional 36,547 shares during the last quarter. Finally, Tredje AP fonden increased its holdings in L Brands by 11.9% during the third quarter. Tredje AP fonden now owns 16,497 shares of the specialty retailer’s stock valued at $686,000 after buying an additional 1,756 shares during the last quarter. Institutional investors own 81.06% of the company’s stock.
In other L Brands news, CFO Stuart B. Burgdoerfer sold 17,000 shares of the stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $39.56, for a total transaction of $672,520.00. Following the completion of the transaction, the chief financial officer now owns 52,640 shares in the company, valued at $2,082,438.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stuart B. Burgdoerfer sold 33,000 shares of the stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total transaction of $1,403,490.00. Following the transaction, the chief financial officer now owns 69,640 shares of the company’s stock, valued at approximately $2,961,789.20. The disclosure for this sale can be found here. 16.68% of the stock is owned by company insiders.
Shares of NYSE:LB opened at $38.20 on Friday. The company has a debt-to-equity ratio of -7.60, a current ratio of 1.62 and a quick ratio of 1.01. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $63.10. The firm has a market cap of $10,791.00, a P/E ratio of 11.94, a P/E/G ratio of 1.05 and a beta of 0.78.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.06. L Brands had a net margin of 7.78% and a negative return on equity of 101.69%. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. L Brands’s revenue for the quarter was up 7.4% on a year-over-year basis. research analysts anticipate that L Brands will post 3.17 earnings per share for the current year.
L Brands declared that its board has approved a stock buyback plan on Thursday, March 8th that allows the company to buyback $226.90 million in shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were given a dividend of $0.60 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.40 annualized dividend and a yield of 6.28%. L Brands’s dividend payout ratio (DPR) is currently 75.00%.
LB has been the subject of a number of research reports. Northcoast Research raised shares of L Brands from a “neutral” rating to a “buy” rating in a report on Wednesday, February 7th. Deutsche Bank reduced their target price on shares of L Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Monday, February 26th. Robert W. Baird set a $63.00 target price on shares of L Brands and gave the company a “buy” rating in a report on Wednesday, February 28th. Royal Bank of Canada reissued a “buy” rating and issued a $52.00 price objective on shares of L Brands in a research note on Thursday, March 1st. Finally, Barclays increased their price objective on shares of L Brands from $44.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $50.24.
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L Brands Company Profile
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include loungewear, bras, panties, swimwear, athletic attire, fragrances, shower gels and lotions, aromatherapy, soaps and sanitizers, home fragrances, handbags, jewelry, and personal care accessories.
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