Crescent Grove Advisors LLC purchased a new stake in shares of L Brands, Inc. (NYSE:LB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,000 shares of the specialty retailer’s stock, valued at approximately $216,000.
Several other large investors have also recently added to or reduced their stakes in LB. BlackRock Inc. increased its stake in L Brands by 3,863.4% in the first quarter. BlackRock Inc. now owns 19,000,928 shares of the specialty retailer’s stock valued at $894,945,000 after buying an additional 18,521,518 shares during the period. Wellington Management Group LLP increased its stake in L Brands by 86.8% in the first quarter. Wellington Management Group LLP now owns 14,514,565 shares of the specialty retailer’s stock valued at $683,636,000 after buying an additional 6,745,624 shares during the period. Primecap Management Co. CA increased its stake in L Brands by 16.1% in the first quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock valued at $885,383,000 after buying an additional 2,600,605 shares during the period. Renaissance Technologies LLC bought a new stake in L Brands during the first quarter valued at approximately $101,243,000. Finally, American Century Companies Inc. increased its stake in L Brands by 4,831.7% in the first quarter. American Century Companies Inc. now owns 1,536,226 shares of the specialty retailer’s stock valued at $72,356,000 after buying an additional 1,505,076 shares during the period. Institutional investors own 75.43% of the company’s stock.
Shares of L Brands, Inc. (LB) opened at 40.88 on Friday. The firm has a 50-day moving average price of $46.63 and a 200-day moving average price of $50.65. L Brands, Inc. has a 12 month low of $40.77 and a 12 month high of $79.67. The stock has a market cap of $11.73 billion, a PE ratio of 10.77 and a beta of 0.62.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.04. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. Equities analysts forecast that L Brands, Inc. will post $3.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.87%. L Brands’s payout ratio is currently 63.16%.
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LB has been the topic of several analyst reports. Royal Bank Of Canada reissued a “hold” rating on shares of L Brands in a report on Tuesday, April 18th. Vetr downgraded L Brands from a “strong-buy” rating to a “buy” rating and set a $55.51 target price on the stock. in a report on Monday, April 24th. Zacks Investment Research raised L Brands from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Buckingham Research reissued a “buy” rating on shares of L Brands in a report on Wednesday, April 26th. Finally, Jefferies Group LLC set a $35.00 target price on L Brands and gave the stock a “sell” rating in a report on Thursday, May 4th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $55.76.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the transaction, the chief executive officer now owns 75,658 shares in the company, valued at approximately $3,698,163.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.45% of the company’s stock.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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