Norinchukin Bank The increased its stake in shares of L Brands Inc (NYSE:LB) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,785 shares of the specialty retailer’s stock after acquiring an additional 1,734 shares during the quarter. Norinchukin Bank The’s holdings in L Brands were worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in L Brands during the 2nd quarter worth approximately $104,000. Gradient Investments LLC bought a new position in L Brands during the 2nd quarter worth approximately $109,000. Private Capital Group LLC grew its position in L Brands by 6,777.3% during the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after acquiring an additional 2,982 shares during the last quarter. USAdvisors Wealth Management LLC bought a new position in L Brands during the 3rd quarter worth approximately $208,000. Finally, Ferguson Wellman Capital Management Inc. bought a new position in L Brands during the 2nd quarter worth approximately $216,000. Institutional investors and hedge funds own 70.55% of the company’s stock.
A number of brokerages have recently weighed in on LB. Bank of America set a $35.00 price objective on L Brands and gave the stock a “hold” rating in a research report on Tuesday, November 20th. Zacks Investment Research lowered L Brands from a “buy” rating to a “hold” rating in a research report on Monday, November 19th. Barclays set a $33.00 price objective on L Brands and gave the stock a “hold” rating in a research report on Tuesday, November 13th. Nomura set a $35.00 price objective on L Brands and gave the stock a “hold” rating in a research report on Tuesday, November 20th. Finally, 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 research report on Thursday, August 23rd. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and an average price target of $38.39.
L Brands (NYSE:LB) last released its earnings results on Monday, November 19th. The specialty retailer reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.70 billion. L Brands had a negative return on equity of 83.62% and a net margin of 5.81%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. As a group, analysts expect that L Brands Inc will post 2.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 8.01%. The ex-dividend date of this dividend is Wednesday, November 21st. L Brands’s payout ratio is presently 75.00%.
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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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