BNP Paribas Arbitrage SA trimmed its holdings in shares of L Brands Inc (NYSE:LB) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,596 shares of the specialty retailer’s stock after selling 5,173 shares during the quarter. BNP Paribas Arbitrage SA owned 0.05% of L Brands worth $3,878,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in LB. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of L Brands by 1,594.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 2,823 shares during the last quarter. Investors Research Corp purchased a new position in shares of L Brands during the first quarter valued at $127,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of L Brands by 65.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock valued at $130,000 after buying an additional 1,857 shares during the period. Trustcore Financial Services LLC purchased a new position in shares of L Brands during the second quarter valued at $130,000. Finally, City Holding Co. increased its stake in shares of L Brands by 360.6% during the second quarter. City Holding Co. now owns 6,131 shares of the specialty retailer’s stock valued at $160,000 after buying an additional 4,800 shares during the period. Institutional investors and hedge funds own 68.41% of the company’s stock.
Several brokerages have recently commented on LB. Bank of America set a $30.00 price target on L Brands and gave the company a “hold” rating in a research note on Thursday, May 23rd. Zacks Investment Research lowered L Brands from a “buy” rating to a “hold” rating and set a $28.00 price target on the stock. in a research note on Wednesday, July 31st. Loop Capital cut their price target on L Brands to $20.00 and set a “sell” rating on the stock in a research note on Wednesday, May 15th. 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 Friday, May 24th. Finally, Odeon Capital Group began coverage on L Brands in a research note on Friday, April 26th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.17.
LB opened at $19.69 on Friday. The business’s 50-day moving average is $25.35 and its two-hundred day moving average is $25.49. L Brands Inc has a 1 year low of $19.45 and a 1 year high of $38.00. The firm has a market capitalization of $6.07 billion, a PE ratio of 6.98, a price-to-earnings-growth ratio of 0.83 and a beta of 0.69.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. As a group, research analysts predict that L Brands Inc will post 2.4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.20 annualized dividend and a yield of 6.09%. L Brands’s dividend payout ratio (DPR) is presently 42.55%.
L Brands 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.
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