CIBC World Markets Inc. cut its holdings in L Brands Inc (NYSE:LB) by 26.9% during the first quarter, HoldingsChannel.com reports. The firm owned 46,825 shares of the specialty retailer’s stock after selling 17,210 shares during the period. CIBC World Markets Inc.’s holdings in L Brands were worth $1,291,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in L Brands by 2,272.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 637,591 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 610,714 shares during the period. JNBA Financial Advisors acquired a new position in shares of L Brands during the fourth quarter worth about $56,000. Synovus Financial Corp increased its stake in shares of L Brands by 167.8% during the fourth quarter. Synovus Financial Corp now owns 2,394 shares of the specialty retailer’s stock worth $62,000 after acquiring an additional 1,500 shares during the period. Kessler Investment Group LLC acquired a new position in shares of L Brands during the first quarter worth about $67,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake 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 acquiring an additional 2,823 shares during the period. Institutional investors own 69.15% of the company’s stock.
LB has been the topic of a number of recent analyst reports. Odeon Capital Group initiated coverage on shares of L Brands in a research note on Friday, April 26th. They set a “buy” rating on the stock. Royal Bank of Canada set a $35.00 price target on shares of L Brands and gave the stock a “buy” rating in a research note on Friday, May 24th. Jefferies Financial Group dropped their price target on shares of L Brands from $21.00 to $16.00 in a research note on Thursday, February 28th. Telsey Advisory Group reiterated a “market perform” rating and set a $28.00 price target (down from $31.00) on shares of L Brands in a research note on Friday, March 1st. Finally, B. Riley dropped their price target on shares of L Brands from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, February 21st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. L Brands presently has an average rating of “Hold” and a consensus target price of $31.96.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.56 billion. L Brands had a net margin of 4.81% and a negative return on equity of 70.88%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. As a group, analysts forecast that L Brands Inc will post 2.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Thursday, May 30th. L Brands’s dividend payout ratio is currently 42.55%.
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About L Brands
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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