Fmr LLC Acquires 305,365 Shares of L Brands, Inc. (LB)

Fmr LLC grew its holdings in L Brands, Inc. (NYSE:LB) by 2.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,403,917 shares of the specialty retailer’s stock after buying an additional 305,365 shares during the period. Fmr LLC owned approximately 3.98% of L Brands worth $614,558,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Aviva PLC grew its stake in shares of L Brands by 5.7% in the 2nd quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after buying an additional 7,635 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of L Brands by 14.3% in the 2nd quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock worth $5,142,000 after buying an additional 11,967 shares in the last quarter. Swiss National Bank grew its stake in shares of L Brands by 2.8% in the 2nd quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock worth $47,719,000 after buying an additional 24,300 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of L Brands by 18.1% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock worth $52,045,000 after purchasing an additional 148,076 shares during the period. Finally, BB&T Securities LLC boosted its stake in shares of L Brands by 23.7% during the 2nd quarter. BB&T Securities LLC now owns 13,138 shares of the specialty retailer’s stock worth $708,000 after purchasing an additional 2,514 shares during the period. 79.48% of the stock is owned by institutional investors and hedge funds.

Shares of L Brands, Inc. (NYSE LB) opened at 39.65 on Friday. The stock has a market capitalization of $11.25 billion, a P/E ratio of 11.64 and a beta of 0.65. L Brands, Inc. has a 12-month low of $35.00 and a 12-month high of $75.94. The stock has a 50 day moving average of $39.15 and a 200 day moving average of $46.90.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS. Equities research analysts anticipate that L Brands, Inc. will post $3.14 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.05%. L Brands’s payout ratio is 70.38%.

L Brands declared that its Board of Directors has approved a share repurchase plan on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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LB has been the subject of a number of recent analyst reports. FBR & Co set a $60.00 price target on shares of L Brands and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of L Brands in a research note on Tuesday, June 20th. Cowen and Company reaffirmed a “buy” rating and set a $56.00 price target on shares of L Brands in a research note on Tuesday, July 4th. Deutsche Bank AG reaffirmed a “buy” rating and set a $60.00 price target on shares of L Brands in a research note on Tuesday, August 1st. Finally, Buckingham Research dropped their price target on shares of L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Seven investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.71.

L Brands Company Profile

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

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