Oppenheimer & Co. Inc. lessened its position in L Brands Inc (NYSE:LB) by 26.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,266 shares of the specialty retailer’s stock after selling 9,648 shares during the period. Oppenheimer & Co. Inc.’s holdings in L Brands were worth $826,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of LB. Makaira Partners LLC lifted its stake in shares of L Brands by 33.3% during the 2nd quarter. Makaira Partners LLC now owns 3,364,372 shares of the specialty retailer’s stock worth $124,078,000 after buying an additional 840,790 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of L Brands by 1,000.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 440,000 shares of the specialty retailer’s stock worth $16,227,000 after buying an additional 400,000 shares during the last quarter. Aviance Capital Management LLC acquired a new stake in shares of L Brands during the 2nd quarter worth about $14,019,000. Alps Advisors Inc. lifted its stake in shares of L Brands by 28.4% during the 3rd quarter. Alps Advisors Inc. now owns 1,634,619 shares of the specialty retailer’s stock worth $49,529,000 after buying an additional 361,913 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in shares of L Brands by 27.4% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,615,015 shares of the specialty retailer’s stock worth $48,935,000 after buying an additional 347,017 shares during the last quarter. Institutional investors own 73.47% of the company’s stock.
A number of analysts have recently issued reports on LB shares. Morgan Stanley restated an “equal weight” rating and set a $32.00 target price (down previously from $56.00) on shares of L Brands in a research note on Friday, August 24th. Zacks Investment Research cut shares of L Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Barclays set a $31.00 price objective on shares of L Brands and gave the stock a “hold” rating in a research note on Thursday, October 18th. B. Riley dropped their price objective on shares of L Brands from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 23rd. Finally, Telsey Advisory Group dropped their price objective on shares of L Brands from $36.00 to $31.00 and set a “market perform” rating for the company in a research note on Friday, August 24th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $37.06.
Shares of NYSE:LB opened at $34.24 on Tuesday. The company has a market capitalization of $9.31 billion, a PE ratio of 10.70, a PEG ratio of 1.17 and a beta of 0.33. L Brands Inc has a 12 month low of $25.89 and a 12 month high of $63.10.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.92 billion. L Brands had a net margin of 6.87% and a negative return on equity of 84.14%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 EPS. Sell-side analysts predict that L Brands Inc will post 2.51 earnings per share for the current fiscal year.
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About L Brands
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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