Retirement Systems of Alabama decreased its stake in L Brands Inc. (NYSE:LB) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 128,983 shares of the company’s stock after selling 752 shares during the period. Retirement Systems of Alabama’s holdings in L Brands were worth $8,659,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of LB. Alecta Pensionsforsakring Omsesidigt boosted its position in L Brands by 8.2% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,803,000 shares of the company’s stock valued at $725,421,000 after buying an additional 815,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in L Brands by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,450,806 shares of the company’s stock valued at $566,445,000 after buying an additional 33,613 shares during the last quarter. Wellington Management Group LLP boosted its position in L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock valued at $232,522,000 after buying an additional 1,358,509 shares during the last quarter. BlackRock Group LTD boosted its position in L Brands by 20.3% in the first quarter. BlackRock Group LTD now owns 2,132,871 shares of the company’s stock valued at $187,287,000 after buying an additional 359,878 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in L Brands by 2.0% in the first quarter. Geode Capital Management LLC now owns 2,026,626 shares of the company’s stock valued at $177,593,000 after buying an additional 39,922 shares during the last quarter. Hedge funds and other institutional investors own 75.60% of the company’s stock.
Shares of L Brands Inc. (NYSE:LB) traded up 0.10% during trading on Friday, hitting $71.23. 2,627,988 shares of the stock were exchanged. The firm has a market capitalization of $20.37 billion, a P/E ratio of 17.36 and a beta of 0.91. L Brands Inc. has a 52 week low of $60.00 and a 52 week high of $101.11. The firm has a 50 day moving average price of $73.51 and a 200 day moving average price of $73.30.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The business earned $2.89 billion during the quarter. During the same quarter last year, the firm earned $0.68 EPS. L Brands’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts forecast that L Brands Inc. will post $3.83 EPS for the current fiscal year.
LB has been the topic of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $82.00 price objective (up from $75.00) on shares of L Brands in a research report on Friday, August 5th. Citigroup Inc. lifted their price objective on shares of L Brands from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. FBR & Co reiterated a “market perform” rating and set a $75.00 price objective on shares of L Brands in a research report on Wednesday, August 31st. Morgan Stanley restated a “buy” rating and set a $80.00 price target on shares of L Brands in a report on Tuesday, August 23rd. Finally, Nomura restated a “neutral” rating and set a $60.00 price target (up from $58.00) on shares of L Brands in a report on Sunday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $77.52.
In other L Brands news, CEO Nicholas Coe sold 4,951 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $67.53, for a total value of $334,341.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Charles Mcguigan sold 23,687 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is currently owned by company 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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