Makaira Partners LLC Invests $45.30 Million in L Brands (LB) Stock

Makaira Partners LLC bought a new stake in shares of L Brands (NYSE:LB) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 752,200 shares of the specialty retailer’s stock, valued at approximately $45,297,000. L Brands makes up 5.5% of Makaira Partners LLC’s holdings, making the stock its 9th biggest position. Makaira Partners LLC owned 0.27% of L Brands at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of L Brands by 182.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,364 shares during the period. Gradient Investments LLC acquired a new position in shares of L Brands in the 4th quarter valued at $153,000. Steward Partners Investment Advisory LLC acquired a new position in shares of L Brands in the 3rd quarter valued at $161,000. Sciencast Management LP acquired a new position in shares of L Brands in the 4th quarter valued at $202,000. Finally, Check Capital Management Inc. CA acquired a new position in shares of L Brands in the 4th quarter valued at $205,000. 81.06% of the stock is owned by institutional investors and hedge funds.

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A number of research firms recently weighed in on LB. ValuEngine lowered L Brands from a “hold” rating to a “sell” rating in a research report on Saturday. Wolfe Research increased their price target on L Brands from $48.00 to $53.00 and gave the company a “peer perform” rating in a research report on Monday, February 12th. Scotiabank reiterated a “hold” rating and issued a $59.00 price target on shares of L Brands in a research report on Wednesday, January 17th. Cowen reiterated a “hold” rating and issued a $49.00 price target on shares of L Brands in a research report on Thursday, February 8th. Finally, Robert W. Baird set a $60.00 price target on L Brands and gave the company a “hold” rating in a research report on Thursday, December 28th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $50.24.

LB opened at $38.20 on Friday. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $63.10. The company has a debt-to-equity ratio of -7.60, a current ratio of 1.62 and a quick ratio of 1.01. The stock has a market cap of $10,932.13, a PE ratio of 12.03, a PEG ratio of 1.06 and a beta of 0.78.

L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.06. L Brands had a negative return on equity of 101.69% and a net margin of 7.78%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period last year, the business earned $2.03 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. research analysts forecast that L Brands will post 3.17 EPS for the current fiscal year.

The business 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date was Thursday, February 22nd. L Brands’s payout ratio is 75.00%.

L Brands announced that its board has initiated a share buyback plan 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 plans are often a sign that the company’s leadership believes its stock is undervalued.

In other L Brands news, CFO Stuart B. Burgdoerfer sold 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $39.56, for a total value of $672,520.00. Following the sale, the chief financial officer now owns 52,640 shares of the company’s stock, valued at approximately $2,082,438.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart B. Burgdoerfer sold 33,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 69,640 shares in the company, valued at approximately $2,961,789.20. The disclosure for this sale can be found here. 16.68% of the stock is currently owned by company insiders.

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L Brands 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.

Institutional Ownership by Quarter for L Brands (NYSE:LB)

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