Contrarius Investment Management Ltd Purchases 2,313,900 Shares of L Brands Inc (NYSE:LB)

Contrarius Investment Management Ltd raised its position in shares of L Brands Inc (NYSE:LB) by 205.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,440,909 shares of the specialty retailer’s stock after purchasing an additional 2,313,900 shares during the quarter. L Brands accounts for 3.3% of Contrarius Investment Management Ltd’s investment portfolio, making the stock its 10th biggest holding. Contrarius Investment Management Ltd owned about 1.24% of L Brands worth $62,349,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Dupont Capital Management Corp lifted its position in L Brands by 8.8% during the 4th quarter. Dupont Capital Management Corp now owns 7,800 shares of the specialty retailer’s stock worth $141,000 after acquiring an additional 632 shares during the last quarter. Comerica Bank grew its holdings in L Brands by 1.4% during the 3rd quarter. Comerica Bank now owns 47,605 shares of the specialty retailer’s stock worth $835,000 after acquiring an additional 664 shares during the last quarter. Kwmg LLC grew its holdings in L Brands by 0.8% during the 4th quarter. Kwmg LLC now owns 89,864 shares of the specialty retailer’s stock worth $1,628,000 after acquiring an additional 727 shares during the last quarter. State of Michigan Retirement System grew its holdings in L Brands by 1.6% during the 3rd quarter. State of Michigan Retirement System now owns 55,844 shares of the specialty retailer’s stock worth $1,094,000 after acquiring an additional 900 shares during the last quarter. Finally, Washington Trust Bank grew its holdings in L Brands by 8.1% during the 3rd quarter. Washington Trust Bank now owns 12,263 shares of the specialty retailer’s stock worth $240,000 after acquiring an additional 923 shares during the last quarter. 71.42% of the stock is currently owned by institutional investors.

L Brands stock opened at $24.28 on Friday. L Brands Inc has a 12-month low of $15.80 and a 12-month high of $29.02. The firm’s fifty day moving average is $20.74 and its 200 day moving average is $19.26. The company has a market capitalization of $6.67 billion, a PE ratio of 18.53, a PEG ratio of 0.98 and a beta of 0.76.

L Brands (NYSE:LB) last released its earnings results on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.69 billion. L Brands had a net margin of 2.80% and a negative return on equity of 72.15%. L Brands’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. On average, analysts anticipate that L Brands Inc will post 2.22 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 21st will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.94%. L Brands’s dividend payout ratio (DPR) is currently 42.55%.

A number of research firms have weighed in on LB. Loop Capital reduced their target price on shares of L Brands from $15.00 to $14.00 and set a “sell” rating on the stock in a report on Thursday, November 21st. DA Davidson reduced their target price on shares of L Brands from $20.00 to $18.00 and set an “in-line” rating on the stock in a report on Friday, November 22nd. UBS Group reduced their target price on shares of L Brands from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, November 12th. Deutsche Bank raised shares of L Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $22.00 to $24.00 in a report on Friday, January 10th. Finally, Guggenheim reaffirmed a “hold” rating on shares of L Brands in a research note on Thursday, January 9th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. L Brands currently has an average rating of “Hold” and an average price target of $21.67.

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.

Featured Article: Quiet Period

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

Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.