Sciencast Management LP bought a new position in shares of L Brands Inc (NYSE:LB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,974 shares of the specialty retailer’s stock, valued at approximately $513,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lone Pine Capital LLC acquired a new position in L Brands in the first quarter worth approximately $303,624,000. Prudential PLC bought a new position in L Brands during the first quarter valued at about $48,964,000. Norges Bank acquired a new stake in shares of L Brands in the fourth quarter worth about $46,414,000. Polaris Capital Management LLC boosted its stake in shares of L Brands by 86.1% during the 1st quarter. Polaris Capital Management LLC now owns 2,351,468 shares of the specialty retailer’s stock worth $27,183,000 after acquiring an additional 1,087,700 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of L Brands by 290.3% during the 1st quarter. Deutsche Bank AG now owns 1,288,593 shares of the specialty retailer’s stock valued at $14,897,000 after acquiring an additional 958,475 shares during the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:LB opened at $24.41 on Friday. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of -9.61, a P/E/G ratio of 19.59 and a beta of 1.22. The company has a 50 day moving average of $16.60 and a 200-day moving average of $16.87. L Brands Inc has a one year low of $8.00 and a one year high of $26.66.
Several equities analysts recently weighed in on the company. Telsey Advisory Group boosted their price objective on L Brands from $15.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday. Wedbush upped their target price on shares of L Brands from $12.00 to $20.00 in a research note on Wednesday. Credit Suisse Group raised their price target on shares of L Brands from $13.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday. Deutsche Bank upped their price objective on L Brands from $16.00 to $27.00 in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on L Brands from $17.00 to $25.00 in a research report on Wednesday. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $22.57.
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.
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