Centenus Global Management LP Makes New Investment in L Brands Inc (NYSE:LB)

Centenus Global Management LP acquired a new stake in shares of L Brands Inc (NYSE:LB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 155,000 shares of the specialty retailer’s stock, valued at approximately $2,809,000. Centenus Global Management LP owned 0.06% of L Brands at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of L Brands by 827.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,469 shares of the specialty retailer’s stock valued at $87,000 after acquiring an additional 3,987 shares during the last quarter. State Street Corp grew its position in L Brands by 9.0% in the third quarter. State Street Corp now owns 11,928,770 shares of the specialty retailer’s stock worth $233,685,000 after acquiring an additional 983,063 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its position in L Brands by 1.2% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 190,489 shares of the specialty retailer’s stock worth $3,732,000 after acquiring an additional 2,329 shares in the last quarter. Redwood Investment Management LLC grew its position in L Brands by 37.6% in the third quarter. Redwood Investment Management LLC now owns 18,819 shares of the specialty retailer’s stock worth $369,000 after acquiring an additional 5,142 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in L Brands by 0.7% in the third quarter. California State Teachers Retirement System now owns 393,923 shares of the specialty retailer’s stock worth $7,717,000 after acquiring an additional 2,904 shares in the last quarter. Hedge funds and other institutional investors own 69.68% of the company’s stock.

Several research analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of L Brands in a research report on Monday, February 3rd. They issued a “market perform” rating and a $23.00 target price for the company. Zacks Investment Research lowered L Brands from a “hold” rating to a “strong sell” rating and set a $17.00 target price on the stock. in a research note on Wednesday, January 15th. Cowen reiterated a “hold” rating and set a $22.00 target price on shares of L Brands in a research note on Wednesday, January 29th. Royal Bank of Canada increased their target price on L Brands from $19.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, February 21st. Finally, ValuEngine upgraded L Brands from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $22.08.

Shares of NYSE LB traded down $0.11 during mid-day trading on Thursday, hitting $13.82. 725,722 shares of the stock traded hands, compared to its average volume of 12,004,793. L Brands Inc has a twelve month low of $8.00 and a twelve month high of $29.02. The company has a market cap of $3.53 billion, a PE ratio of -10.39, a price-to-earnings-growth ratio of 0.54 and a beta of 0.67. The firm has a 50 day simple moving average of $20.16 and a two-hundred day simple moving average of $18.97.

L Brands (NYSE:LB) last posted its earnings results on Wednesday, February 26th. The specialty retailer reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. L Brands had a negative net margin of 2.84% and a negative return on equity of 62.38%. The firm had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the previous year, the firm posted $2.14 EPS. On average, equities analysts anticipate that L Brands Inc will post 1.82 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 21st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.20 annualized dividend and a yield of 8.68%. L Brands’s dividend payout ratio is presently 52.40%.

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

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