Sciencast Management LP Acquires New Holdings in L Brands Inc (NYSE:LB)

Sciencast Management LP bought a new position in shares of L Brands Inc (NYSE:LB) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 30,974 shares of the specialty retailer’s stock, valued at approximately $513,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Lone Pine Capital LLC acquired a new stake in L Brands in the first quarter valued at $303,624,000. Prudential PLC bought a new stake in shares of L Brands in the 1st quarter valued at $48,964,000. Norges Bank acquired a new stake in shares of L Brands during the fourth quarter worth $46,414,000. Polaris Capital Management LLC raised its stake in L Brands by 86.1% during the first quarter. Polaris Capital Management LLC now owns 2,351,468 shares of the specialty retailer’s stock worth $27,183,000 after buying an additional 1,087,700 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in L Brands by 290.3% in the first quarter. Deutsche Bank AG now owns 1,288,593 shares of the specialty retailer’s stock valued at $14,897,000 after buying an additional 958,475 shares during the period. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on the company. Zacks Investment Research raised L Brands from a “strong sell” rating to a “hold” rating and set a $20.00 price objective for the company in a research report on Tuesday, July 28th. Telsey Advisory Group boosted their price target on L Brands from $15.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday. Bank of America increased their price target on L Brands from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley lifted their price objective on shares of L Brands from $23.00 to $24.00 in a research note on Wednesday. Finally, UBS Group dropped their target price on shares of L Brands from $14.00 to $12.75 and set a “neutral” rating on the stock in a research report on Tuesday, May 19th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $22.57.

NYSE LB opened at $24.41 on Friday. The company has a fifty day moving average price of $16.60 and a 200-day moving average price of $16.87. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of -9.61, a PEG ratio of 19.59 and a beta of 1.22. L Brands Inc has a 1 year low of $8.00 and a 1 year high of $26.66.

L Brands (NYSE:LB) last posted its earnings results on Wednesday, May 20th. The specialty retailer reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by ($0.28). L Brands had a negative return on equity of 23.32% and a negative net margin of 5.89%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the business earned $0.14 EPS. L Brands’s quarterly revenue was down 37.1% compared to the same quarter last year. Equities analysts forecast that L Brands Inc will post 0.21 EPS for the current fiscal year.

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

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