Chevy Chase Trust Holdings Inc. Decreases Stake in L Brands Inc (LB)

Chevy Chase Trust Holdings Inc. decreased its position in L Brands Inc (NYSE:LB) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,717 shares of the specialty retailer’s stock after selling 16,629 shares during the quarter. Chevy Chase Trust Holdings Inc.’s holdings in L Brands were worth $5,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. IFM Investors Pty Ltd grew its position in shares of L Brands by 17.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 12,644 shares of the specialty retailer’s stock worth $383,000 after acquiring an additional 1,887 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of L Brands in the 3rd quarter worth approximately $563,000. Gateway Investment Advisers LLC grew its position in shares of L Brands by 40.7% in the 3rd quarter. Gateway Investment Advisers LLC now owns 223,707 shares of the specialty retailer’s stock worth $6,778,000 after acquiring an additional 64,664 shares in the last quarter. Malaga Cove Capital LLC grew its position in shares of L Brands by 3.2% in the 3rd quarter. Malaga Cove Capital LLC now owns 51,559 shares of the specialty retailer’s stock worth $1,573,000 after acquiring an additional 1,603 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in shares of L Brands by 51.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 667,000 shares of the specialty retailer’s stock worth $20,210,000 after acquiring an additional 227,000 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Shares of L Brands stock opened at $33.85 on Friday. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.13 and a beta of 0.51. L Brands Inc has a 1-year low of $25.89 and a 1-year high of $63.10.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $2.98 billion for 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%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, equities research analysts expect that L Brands Inc will post 2.51 earnings per share for the current fiscal year.

LB has been the subject of several research reports. Royal Bank of Canada set a $35.00 target price on L Brands and gave the stock a “buy” rating in a research report on Tuesday, August 21st. B. Riley decreased their target price on L Brands from $49.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, August 23rd. Citigroup decreased their target price on L Brands from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, August 24th. Goldman Sachs Group assumed coverage on L Brands in a research report on Thursday, October 25th. They issued a “buy” rating and a $36.00 target price for the company. Finally, Morgan Stanley downgraded L Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $56.00 to $32.00 in a report on Thursday, August 23rd. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $37.06.

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

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