Dimensional Fund Advisors LP lifted its holdings in shares of L Brands, Inc. (NYSE:LB) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 479,066 shares of the specialty retailer’s stock after buying an additional 2,760 shares during the quarter. Dimensional Fund Advisors LP owned about 0.17% of L Brands worth $25,818,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in LB. Aviva PLC increased its holdings in L Brands by 5.7% during the 2nd quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after acquiring an additional 7,635 shares during the period. Victory Capital Management Inc. grew its holdings in shares of L Brands by 14.3% during the 2nd quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock valued at $5,142,000 after purchasing an additional 11,967 shares during the last quarter. Swiss National Bank grew its holdings in shares of L Brands by 2.8% during the 2nd quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock valued at $47,719,000 after purchasing an additional 24,300 shares during the last quarter. Bridgewater Associates LP grew its holdings in shares of L Brands by 16.5% during the 2nd quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock valued at $4,398,000 after purchasing an additional 11,570 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings 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 valued at $52,045,000 after purchasing an additional 148,076 shares during the last quarter. Institutional investors own 80.71% of the company’s stock.
Shares of L Brands, Inc. (LB) opened at $48.95 on Tuesday. The firm has a market capitalization of $14,095.82, a P/E ratio of 15.23, a P/E/G ratio of 1.39 and a beta of 0.67. L Brands, Inc. has a 52 week low of $35.00 and a 52 week high of $75.50. The company has a debt-to-equity ratio of -6.25, a quick ratio of 1.05 and a current ratio of 1.68.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. analysts forecast that L Brands, Inc. will post 3.11 EPS for the current year.
L Brands declared that its Board of Directors has authorized a share buyback program on Monday, September 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Wednesday, November 22nd. L Brands’s payout ratio is currently 70.38%.
Several equities research analysts have weighed in on the stock. BMO Capital Markets set a $44.00 price target on shares of L Brands and gave the company a “hold” rating in a research report on Tuesday, August 8th. UBS AG raised their price objective on shares of L Brands from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, November 6th. Jefferies Group LLC set a $32.00 price target on shares of L Brands and gave the stock a “sell” rating in a research note on Thursday, August 17th. Instinet dropped their price objective on shares of L Brands from $43.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 17th. Finally, Nomura set a $38.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Thursday, August 17th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $46.75.
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In related news, Director Allan R. Tessler bought 20,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were acquired at an average price of $37.00 per share, with a total value of $740,000.00. Following the completion of the acquisition, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.68% of the company’s stock.
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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