Aperio Group LLC Sells 17,950 Shares of L Brands Inc (LB)

Aperio Group LLC cut its stake in shares of L Brands Inc (NYSE:LB) by 19.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,013 shares of the specialty retailer’s stock after selling 17,950 shares during the period. Aperio Group LLC’s holdings in L Brands were worth $2,904,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in L Brands by 182.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,364 shares during the period. Gradient Investments LLC acquired a new stake in L Brands during the 4th quarter worth about $153,000. Belpointe Asset Management LLC acquired a new stake in L Brands during the 4th quarter worth about $202,000. Check Capital Management Inc. CA acquired a new stake in L Brands during the 4th quarter worth about $205,000. Finally, Camarda Financial Advisors LLC acquired a new stake in L Brands during the 1st quarter worth about $131,000. Institutional investors own 75.10% of the company’s stock.

In related news, Director Donna James sold 1,000 shares of L Brands stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $35.29, for a total value of $35,290.00. Following the completion of the transaction, the director now directly owns 19,738 shares in the company, valued at approximately $696,554.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stuart B. Burgdoerfer sold 17,000 shares of L Brands stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $39.56, for a total transaction of $672,520.00. Following the completion of the transaction, the chief financial officer now owns 52,640 shares of the company’s stock, valued at $2,082,438.40. The disclosure for this sale can be found here. Company insiders own 17.32% of the company’s stock.

LB has been the subject of a number of recent analyst reports. Deutsche Bank decreased their price target on L Brands from $67.00 to $65.00 and set a “buy” rating for the company in a report on Monday, February 26th. Telsey Advisory Group downgraded L Brands from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $70.00 to $52.00 in a report on Thursday, March 1st. Robert W. Baird set a $63.00 price target on L Brands and gave the stock a “buy” rating in a report on Wednesday, February 28th. Piper Jaffray Companies reiterated a “neutral” rating on shares of L Brands in a report on Thursday, March 1st. Finally, Bank of America set a $38.00 price objective on shares of L Brands and gave the stock a “sell” rating in a research report on Thursday, March 1st. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.88.

Shares of LB stock traded down $0.52 during trading hours on Thursday, hitting $35.99. 4,622,510 shares of the company were exchanged, compared to its average volume of 4,883,713. The company has a quick ratio of 0.83, a current ratio of 1.56 and a debt-to-equity ratio of -5.90. L Brands Inc has a 52-week low of $30.70 and a 52-week high of $63.10. The firm has a market cap of $10.24 billion, a P/E ratio of 11.25, a PEG ratio of 1.15 and a beta of 0.77.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 23rd. The specialty retailer reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. L Brands had a net margin of 7.30% and a negative return on equity of 93.09%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the business posted $0.33 EPS. L Brands’s quarterly revenue was up 7.8% compared to the same quarter last year. equities analysts expect that L Brands Inc will post 2.79 EPS for the current year.

L Brands declared that its board has authorized a share repurchase plan on Thursday, March 8th that allows the company to repurchase $226.90 million in shares. This repurchase authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $2.40 annualized dividend and a dividend yield of 6.67%. L Brands’s payout ratio is currently 75.00%.

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.

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

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