Meag Munich Ergo Kapitalanlagegesellschaft MBH held its stake in shares of L Brands, Inc. (NYSE:LB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the specialty retailer’s stock at the end of the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in L Brands were worth $162,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Teachers Advisors LLC raised its position in shares of L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock valued at $19,647,000 after buying an additional 18,142 shares in the last quarter. Lincoln National Corp raised its position in shares of L Brands by 51.5% in the first quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock valued at $1,668,000 after buying an additional 12,045 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock valued at $1,129,000 after buying an additional 18,575 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of L Brands during the fourth quarter valued at $1,148,000. Finally, Hennessy Advisors Inc. bought a new position in shares of L Brands during the first quarter valued at $1,681,000. 75.43% of the stock is currently owned by institutional investors.
Shares of L Brands, Inc. (LB) traded down 1.61% on Tuesday, reaching $42.67. 2,934,884 shares of the company were exchanged. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 11.24 and a beta of 0.62. The company’s 50-day moving average is $48.04 and its 200-day moving average is $51.33. L Brands, Inc. has a 52 week low of $41.28 and a 52 week high of $79.67.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.04. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 earnings per share. On average, equities analysts expect that L Brands, Inc. will post $3.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Wednesday, August 16th. L Brands’s dividend payout ratio (DPR) is 63.16%.
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Several research firms have recently commented on LB. UBS AG decreased their target price on shares of L Brands from $52.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday. BidaskClub downgraded shares of L Brands from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. FBR & Co reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of L Brands in a research report on Thursday, July 27th. Buckingham Research reduced their price objective on shares of L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Friday. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $55.00 price objective on shares of L Brands in a research report on Monday, July 24th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $56.05.
In related news, CEO Nicholas Coe sold 39,839 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the completion of the transaction, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at $3,698,163.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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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