Oppenheimer & Co. Inc. increased its position in L Brands Inc (NYSE:LB) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,993 shares of the specialty retailer’s stock after acquiring an additional 754 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in L Brands were worth $522,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in LB. Dimensional Fund Advisors LP raised its stake in shares of L Brands by 71.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 958,049 shares of the specialty retailer’s stock worth $24,592,000 after purchasing an additional 399,317 shares during the period. Geode Capital Management LLC boosted its stake in L Brands by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 2,977,260 shares of the specialty retailer’s stock worth $76,373,000 after purchasing an additional 95,224 shares during the period. Janus Henderson Group PLC grew its holdings in L Brands by 180.6% during the 1st quarter. Janus Henderson Group PLC now owns 210,363 shares of the specialty retailer’s stock valued at $5,802,000 after buying an additional 135,407 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of L Brands during the first quarter valued at about $206,000. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of L Brands by 4.1% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 19,946 shares of the specialty retailer’s stock valued at $550,000 after buying an additional 787 shares during the period. 70.07% of the stock is owned by institutional investors.
LB has been the topic of a number of analyst reports. Bank of America set a $30.00 target price on shares of L Brands and gave the stock a “hold” rating in a report on Thursday, May 23rd. DA Davidson set a $20.00 target price on shares of L Brands and gave the stock a “hold” rating in a research note on Friday, August 23rd. B. Riley set a $30.00 price target on shares of L Brands and gave the company a “buy” rating in a report on Friday, August 23rd. Loop Capital reduced their price target on shares of L Brands from $20.00 to $15.00 and set a “sell” rating for the company in a research report on Thursday, August 22nd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $21.00 price target (down previously from $30.00) on shares of L Brands in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $27.10.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. L Brands had a net margin of 4.37% and a negative return on equity of 72.98%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. On average, analysts predict that L Brands Inc will post 2.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend was Thursday, August 22nd. L Brands’s dividend payout ratio (DPR) is presently 42.55%.
L Brands 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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