Bramshill Investments LLC purchased a new stake in L Brands Inc (NYSE:LB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 24,100 shares of the specialty retailer’s stock, valued at approximately $889,000.
Several other hedge funds also recently modified their holdings of the stock. Intact Investment Management Inc. acquired a new position in L Brands during the second quarter valued at approximately $2,331,000. LPL Financial LLC raised its position in L Brands by 20.2% during the first quarter. LPL Financial LLC now owns 27,385 shares of the specialty retailer’s stock valued at $1,046,000 after purchasing an additional 4,607 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in L Brands during the second quarter valued at approximately $5,866,000. Mackay Shields LLC raised its position in L Brands by 41.2% during the second quarter. Mackay Shields LLC now owns 288,148 shares of the specialty retailer’s stock valued at $10,627,000 after purchasing an additional 84,013 shares in the last quarter. Finally, Brandes Investment Partners LP raised its position in L Brands by 275.8% during the second quarter. Brandes Investment Partners LP now owns 58,156 shares of the specialty retailer’s stock valued at $2,145,000 after purchasing an additional 42,680 shares in the last quarter. Institutional investors and hedge funds own 72.86% of the company’s stock.
Several research analysts have commented on LB shares. KeyCorp lowered their price objective on shares of L Brands from $28.00 to $25.00 and set an “underweight” rating for the company in a research report on Friday, August 24th. UBS Group lowered their price objective on shares of L Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, August 23rd. Wedbush started coverage on shares of L Brands in a research report on Friday, August 10th. They set a “neutral” rating and a $33.00 price objective for the company. Loop Capital set a $27.00 price target on shares of L Brands and gave the stock a “sell” rating in a report on Thursday, August 9th. Finally, Nomura lowered their price target on shares of L Brands from $32.00 to $29.00 and set a “hold” rating for the company in a report on Thursday, May 24th. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.56.
NYSE LB opened at $28.97 on Monday. The firm has a market capitalization of $7.73 billion, a P/E ratio of 9.55, a P/E/G ratio of 0.97 and a beta of 0.56. L Brands Inc has a twelve month low of $25.89 and a twelve month high of $63.10. The company has a debt-to-equity ratio of -5.09, a current ratio of 1.46 and a quick ratio of 0.83.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.92 billion. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. L Brands’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. sell-side analysts anticipate that L Brands Inc will post 2.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 24th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $2.40 dividend on an annualized basis and a yield of 8.28%. L Brands’s payout ratio is 75.00%.
L Brands Company Profile
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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