Disciplined Growth Investors Inc. MN cut its holdings in L Brands Inc (NYSE:LB) by 0.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,907,601 shares of the specialty retailer’s stock after selling 16,857 shares during the quarter. Disciplined Growth Investors Inc. MN owned about 0.69% of L Brands worth $70,352,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in LB. Eaton Vance Management raised its stake in L Brands by 110.8% in the first quarter. Eaton Vance Management now owns 218,452 shares of the specialty retailer’s stock valued at $8,347,000 after buying an additional 114,826 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in L Brands by 0.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 960,346 shares of the specialty retailer’s stock valued at $36,695,000 after buying an additional 6,689 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in L Brands in the first quarter valued at about $764,000. Neuberger Berman Group LLC raised its stake in L Brands by 219.4% in the first quarter. Neuberger Berman Group LLC now owns 1,017,472 shares of the specialty retailer’s stock valued at $38,878,000 after buying an additional 698,884 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its stake in L Brands by 31.5% in the first quarter. Riverhead Capital Management LLC now owns 8,350 shares of the specialty retailer’s stock valued at $319,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 72.86% of the company’s stock.
A number of research analysts have recently weighed in on LB shares. Robert W. Baird cut their price objective on L Brands from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, August 23rd. Zacks Investment Research lowered L Brands from a “hold” rating to a “sell” rating in a report on Friday, August 31st. UBS Group started coverage on L Brands in a report on Thursday, June 21st. They issued a “neutral” rating and a $37.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on L Brands to $26.00 and set a “neutral” rating on the stock in a report on Thursday, August 23rd. Finally, Royal Bank of Canada set a $35.00 price objective on L Brands and gave the company a “buy” rating in a report on Tuesday, August 21st. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the stock. L Brands has an average rating of “Hold” and an average target price of $37.56.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.92 billion. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. L Brands’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. research analysts anticipate that L Brands Inc will post 2.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 24th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 8.28%. The ex-dividend date was Thursday, August 23rd. L Brands’s dividend payout ratio (DPR) is 75.00%.
L Brands Company 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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