Commerzbank Aktiengesellschaft FI Trims Stake in L Brands, Inc. (LB)

Commerzbank Aktiengesellschaft FI cut its position in shares of L Brands, Inc. (NYSE:LB) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,176 shares of the specialty retailer’s stock after selling 441 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in L Brands were worth $1,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aviva PLC raised its stake in shares of 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 purchasing an additional 7,635 shares in the last quarter. Lincoln National Corp raised its stake in shares of L Brands by 51.5% during the 1st quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock worth $1,668,000 after purchasing an additional 12,045 shares in the last quarter. Swiss National Bank raised its stake 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 worth $47,719,000 after purchasing an additional 24,300 shares in the last quarter. Coronation Fund Managers Ltd. raised 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 in the last quarter. Finally, US Bancorp DE raised its stake in shares of L Brands by 11.4% during the 2nd quarter. US Bancorp DE now owns 14,761 shares of the specialty retailer’s stock worth $796,000 after purchasing an additional 1,514 shares in the last quarter. 79.54% of the stock is owned by institutional investors.

A number of brokerages have recently commented on LB. BMO Capital Markets set a $44.00 price objective on L Brands and gave the company a “hold” rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $32.00 price objective on shares of L Brands and gave the stock a “sell” rating in a report on Thursday, August 17th. Instinet cut 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. Buckingham Research set a $43.00 price objective on shares of L Brands and gave the stock a “buy” rating in a report on Friday, August 18th. Finally, Nomura set a $38.00 target price on shares of L Brands and gave the company a “hold” rating in a report on Thursday, August 17th. Seven research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the stock. L Brands currently has a consensus rating of “Hold” and a consensus target price of $47.46.

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L Brands, Inc. (LB) opened at 40.41 on Friday. The firm has a market cap of $11.47 billion, a P/E ratio of 11.86 and a beta of 0.65. L Brands, Inc. has a 1-year low of $35.00 and a 1-year high of $75.94. The stock’s 50 day moving average is $39.67 and its 200-day moving average is $47.26.

L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, beating the Zacks’ 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 company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the company earned $0.70 EPS. L Brands’s revenue was down 4.7% compared to the same quarter last year. Analysts forecast that L Brands, Inc. will post $3.14 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date was Wednesday, August 16th. L Brands’s payout ratio is 70.38%.

About L Brands

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.

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

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