L Brands (LB) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in L Brands (NYSE:LB) by 70.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,485,407 shares of the specialty retailer’s stock after acquiring an additional 615,848 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.53% of L Brands worth $56,757,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in L Brands by 182.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,364 shares in the last quarter. Gradient Investments LLC purchased a new position in L Brands in the 4th quarter valued at $153,000. Belpointe Asset Management LLC purchased a new position in L Brands in the 4th quarter valued at $202,000. Check Capital Management Inc. CA purchased a new position in L Brands in the 4th quarter valued at $205,000. Finally, Camarda Financial Advisors LLC purchased a new position in L Brands in the 1st quarter valued at $131,000. 81.88% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on the company. Atlantic Securities lowered L Brands from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $63.10 to $30.70 in a report on Friday, May 11th. MKM Partners decreased their price objective on L Brands to $38.00 and set a “neutral” rating on the stock in a report on Friday, May 11th. Robert W. Baird restated a “buy” rating on shares of L Brands in a report on Wednesday, March 7th. ValuEngine lowered L Brands from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, Loop Capital lowered L Brands from a “hold” rating to a “sell” rating and set a $28.00 price target on the stock. in a report on Thursday, May 10th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.47.

NYSE LB opened at $33.31 on Wednesday. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 0.95 and a beta of 0.77. The company has a debt-to-equity ratio of -7.60, a current ratio of 1.62 and a quick ratio of 1.01. L Brands has a 1-year low of $32.51 and a 1-year high of $33.34.

L Brands (NYSE:LB) last released its earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.06. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.72 billion. L Brands had a negative return on equity of 101.69% and a net margin of 7.78%. L Brands’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS. sell-side analysts forecast that L Brands will post 3.04 earnings per share for the current fiscal year.

L Brands declared that its board has authorized a stock repurchase plan on Thursday, March 8th that permits the company to repurchase $226.90 million in shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other L Brands news, CFO Stuart B. Burgdoerfer sold 17,000 shares of L Brands stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $39.56, for a total value of $672,520.00. Following the completion of the transaction, the chief financial officer now directly owns 52,640 shares of the company’s stock, valued at approximately $2,082,438.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Stuart B. Burgdoerfer sold 33,000 shares of L Brands stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total value of $1,403,490.00. Following the completion of the transaction, the chief financial officer now directly owns 69,640 shares of the company’s stock, valued at $2,961,789.20. The disclosure for this sale can be found here. Insiders own 17.32% of the company’s stock.

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.

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

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