Kovack Advisors Inc. Acquires 1,604 Shares of L Brands Inc (LB)

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Kovack Advisors Inc. raised its holdings in shares of L Brands Inc (NYSE:LB) by 15.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,836 shares of the specialty retailer’s stock after acquiring an additional 1,604 shares during the period. Kovack Advisors Inc.’s holdings in L Brands were worth $437,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Piedmont Investment Advisors LLC acquired a new position in shares of L Brands in the 2nd quarter worth $104,000. Old Mutual Global Investors UK Ltd. acquired a new position in shares of L Brands in the 1st quarter worth $117,000. Camarda Financial Advisors LLC acquired a new position in shares of L Brands in the 1st quarter worth $131,000. IBM Retirement Fund grew its holdings in shares of L Brands by 46.8% in the 1st quarter. IBM Retirement Fund now owns 5,279 shares of the specialty retailer’s stock worth $202,000 after acquiring an additional 1,684 shares during the last quarter. Finally, Norway Savings Bank acquired a new position in shares of L Brands in the 2nd quarter worth $221,000. 72.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of L Brands stock traded down $0.03 during trading on Wednesday, reaching $27.06. The company’s stock had a trading volume of 8,143,300 shares, compared to its average volume of 4,958,867. The company has a debt-to-equity ratio of -5.90, a quick ratio of 0.83 and a current ratio of 1.56. The firm has a market capitalization of $7.66 billion, a PE ratio of 8.39, a PEG ratio of 0.95 and a beta of 0.58. L Brands Inc has a one year low of $26.25 and a one year high of $63.10.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 22nd. The specialty retailer reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.92 billion. L Brands had a negative return on equity of 88.04% and a net margin of 6.87%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. research analysts forecast that L Brands Inc will post 2.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 24th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $2.40 annualized dividend and a yield of 8.87%. L Brands’s dividend payout ratio is 75.00%.

A number of equities analysts recently issued reports on the company. Citigroup decreased their target price on L Brands from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, August 24th. Telsey Advisory Group decreased their target price on L Brands from $36.00 to $31.00 and set a “market perform” rating for the company in a research report on Friday, August 24th. KeyCorp decreased their target price on L Brands from $28.00 to $25.00 and set an “underweight” rating for the company in a research report on Friday, August 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 target price (down previously from $56.00) on shares of L Brands in a research report on Friday, August 24th. Finally, Barclays decreased their target price on L Brands from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, August 23rd. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company’s stock. L Brands currently has a consensus rating of “Hold” and an average price target of $37.59.

About L Brands

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.

Read More: Price to Earnings Ratio (PE) Basics

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

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