Johnson Financial Group Inc. raised its stake in shares of L Brands, Inc. (NYSE:LB) by 35.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,778 shares of the specialty retailer’s stock after buying an additional 2,311 shares during the period. Johnson Financial Group Inc.’s holdings in L Brands were worth $413,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in L Brands by 86.8% in the first quarter. Wellington Management Group LLP now owns 14,514,565 shares of the specialty retailer’s stock valued at $683,636,000 after buying an additional 6,745,624 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of L Brands by 16.1% in the first quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock valued at $885,383,000 after buying an additional 2,600,605 shares during the period. Norges Bank purchased a new position in shares of L Brands during the fourth quarter valued at about $119,358,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of L Brands during the fourth quarter valued at about $115,157,000. Finally, American Century Companies Inc. boosted its position in shares of L Brands by 4,831.7% in the first quarter. American Century Companies Inc. now owns 1,536,226 shares of the specialty retailer’s stock valued at $72,356,000 after buying an additional 1,505,076 shares during the period. Hedge funds and other institutional investors own 77.25% of the company’s stock.
L Brands, Inc. (NYSE LB) traded up 0.60% during trading on Monday, hitting $51.87. The stock had a trading volume of 2,368,131 shares. L Brands, Inc. has a 12-month low of $43.04 and a 12-month high of $79.67. The stock has a 50 day moving average price of $51.25 and a 200 day moving average price of $56.07. The company has a market capitalization of $14.88 billion, a price-to-earnings ratio of 13.66 and a beta of 0.62.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business posted $0.59 EPS. L Brands’s revenue was down 6.8% on a year-over-year basis. Equities research analysts forecast that L Brands, Inc. will post $3.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were paid a $0.60 dividend. The ex-dividend date was Wednesday, May 31st. This represents a $2.40 annualized dividend and a yield of 4.63%. L Brands’s dividend payout ratio (DPR) is currently 63.16%.
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LB has been the topic of several research analyst reports. Buckingham Research reiterated a “buy” rating on shares of L Brands in a research report on Wednesday, April 26th. Instinet reiterated a “neutral” rating and set a $49.00 price target (up from $48.00) on shares of L Brands in a research report on Friday, May 19th. Zacks Investment Research cut L Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, March 14th. Wedbush set a $47.00 price target on L Brands and gave the company a “hold” rating in a research report on Sunday, February 26th. Finally, Jefferies Group LLC set a $35.00 target price on L Brands and gave the stock a “sell” rating in a report on Thursday, May 4th. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and an average price target of $58.05.
In related news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the completion of the sale, the chief executive officer now directly owns 75,658 shares in the company, valued at approximately $3,698,163.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.45% of the company’s stock.
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.
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