Axa Buys 15,300 Shares of L Brands Inc (LB)

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Axa grew its stake in L Brands Inc (NYSE:LB) by 133.6% during the third quarter, HoldingsChannel.com reports. The firm owned 26,748 shares of the specialty retailer’s stock after purchasing an additional 15,300 shares during the quarter. Axa’s holdings in L Brands were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of L Brands in the second quarter valued at approximately $104,000. Gradient Investments LLC purchased a new stake in shares of L Brands in the second quarter valued at approximately $109,000. Private Capital Group LLC boosted its stake in shares of L Brands by 6,777.3% in the second quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock valued at $111,000 after buying an additional 2,982 shares in the last quarter. USAdvisors Wealth Management LLC purchased a new stake in shares of L Brands in the third quarter valued at approximately $208,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in shares of L Brands in the second quarter valued at approximately $216,000. 71.96% of the stock is currently owned by institutional investors and hedge funds.

LB has been the topic of a number of analyst reports. Wedbush initiated coverage on L Brands in a research note on Friday, August 10th. They issued a “neutral” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on L Brands from $31.00 to $28.00 and set a “neutral” rating on the stock in a research note on Friday, August 10th. Royal Bank of Canada set a $35.00 price target on L Brands and gave the company a “buy” rating in a research note on Tuesday, August 21st. Guggenheim restated a “hold” rating on shares of L Brands in a research note on Wednesday, August 22nd. Finally, Wells Fargo & Co set a $30.00 price target on L Brands and gave the company a “hold” rating in a research note on Thursday, August 23rd. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.39.

In related news, Director Raymond Zimmerman sold 6,385 shares of L Brands stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $28.33, for a total transaction of $180,887.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 17.32% of the company’s stock.

LB opened at $31.82 on Friday. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 1.08 and a beta of 0.32. L Brands Inc has a one year low of $25.89 and a one year high of $63.10.

L Brands (NYSE:LB) last posted its earnings results on Monday, November 19th. The specialty retailer reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.70 billion. L Brands had a negative return on equity of 76.28% and a net margin of 5.81%. L Brands’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. As a group, equities analysts predict that L Brands Inc will post 2.66 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 23rd were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, November 21st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.54%. L Brands’s dividend payout ratio (DPR) is 75.00%.

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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.

See Also: Reverse Stock Split

Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L Brands Inc (NYSE:LB).

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

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