Kemnay Advisory Services Inc. raised its stake in shares of L Brands Inc (NYSE:LB) by 25.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,825 shares of the specialty retailer’s stock after acquiring an additional 5,214 shares during the quarter. Kemnay Advisory Services Inc.’s holdings in L Brands were worth $782,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Piedmont Investment Advisors LLC bought a new stake in shares of L Brands during the second quarter worth approximately $104,000. Gradient Investments LLC acquired a new stake in L Brands in the second quarter valued at $109,000. Private Capital Group LLC lifted its stake in shares of L Brands by 6,777.3% during the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after buying an additional 2,982 shares during the last quarter. USAdvisors Wealth Management LLC acquired a new stake in shares of L Brands during the 3rd quarter worth about $208,000. Finally, Ferguson Wellman Capital Management Inc. bought a new position in L Brands during the second quarter worth about $216,000. 71.96% of the stock is currently owned by institutional investors and hedge funds.
L Brands stock opened at $33.40 on Friday. L Brands Inc has a 1 year low of $25.89 and a 1 year high of $63.10. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.08 and a beta of 0.32.
L Brands (NYSE:LB) last released its quarterly earnings data on Monday, November 19th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.70 billion. L Brands had a net margin of 5.81% and a negative return on equity of 76.28%. L Brands’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Equities analysts forecast that L Brands Inc will post 2.66 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.40 dividend on an annualized basis and a yield of 7.19%. L Brands’s dividend payout ratio (DPR) is presently 75.00%.
LB has been the topic of a number of research analyst reports. Loop Capital set a $27.00 price target on shares of L Brands and gave the company a “sell” rating in a research note on Thursday, August 9th. Wedbush initiated coverage on shares of L Brands in a research note on Friday, August 10th. They set a “neutral” rating and a $33.00 price target for the company. JPMorgan Chase & Co. cut their price target on shares of L Brands from $31.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, August 10th. Royal Bank of Canada set a $35.00 price objective on shares of L Brands and gave the company a “buy” rating in a report on Tuesday, August 21st. Finally, Guggenheim restated a “hold” rating on shares of L Brands in a research report on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $38.39.
In related news, Director Raymond Zimmerman sold 6,385 shares of the stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $28.33, for a total value of $180,887.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 17.32% of the stock is currently owned by corporate insiders.
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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, 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.
Further Reading: Yield Curve
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