BlackRock Advisors LLC cut its stake in shares of L Brands Inc. (NYSE:LB) by 27.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,940 shares of the company’s stock after selling 86,986 shares during the period. BlackRock Advisors LLC owned about 0.08% of L Brands worth $15,301,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in LB. Financial Architects Inc raised its position in L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock worth $117,000 after buying an additional 631 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in L Brands during the second quarter worth $123,000. Whittier Trust Co. of Nevada Inc. raised its position in L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares in the last quarter. Global X Management Co. LLC raised its position in L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock worth $138,000 after buying an additional 1,016 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock worth $145,000 after buying an additional 124 shares in the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.
Shares of L Brands Inc. (NYSE:LB) opened at 70.77 on Monday. The firm has a 50-day moving average of $74.11 and a 200 day moving average of $73.89. L Brands Inc. has a 52 week low of $60.00 and a 52 week high of $101.11. The company has a market cap of $20.24 billion, a P/E ratio of 17.25 and a beta of 0.91.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.11. The firm had revenue of $2.89 billion for the quarter. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Equities analysts anticipate that L Brands Inc. will post $3.83 earnings per share for the current fiscal year.
A number of research analysts have weighed in on the stock. Mizuho reissued a “buy” rating and set a $85.00 target price on shares of L Brands in a research report on Monday, September 26th. Jefferies Group reissued a “hold” rating on shares of L Brands in a research report on Monday, September 12th. Wedbush reissued a “neutral” rating and set a $65.00 target price on shares of L Brands in a research report on Sunday, September 4th. Stifel Nicolaus reissued a “buy” rating and set a $90.00 target price on shares of L Brands in a research report on Saturday, September 3rd. Finally, Robert W. Baird set a $80.00 target price on shares of L Brands and gave the stock a “neutral” rating in a research report on Friday, September 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $77.52.
In related news, CEO Nicholas Coe sold 4,951 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $67.53, for a total transaction of $334,341.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the transaction, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is currently owned by insiders.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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