Northwestern Mutual Wealth Management Co. decreased its stake in shares of L Brands Inc (NYSE:LB) by 3.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,867 shares of the specialty retailer’s stock after selling 343 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in L Brands were worth $512,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Northwestern Mutual Investment Management Company LLC boosted its position in shares of L Brands by 76.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 48,555 shares of the specialty retailer’s stock worth $2,287,000 after buying an additional 20,973 shares during the last quarter. Airain ltd boosted its position in shares of L Brands by 4,534.9% in the first quarter. Airain ltd now owns 278,929 shares of the specialty retailer’s stock worth $13,138,000 after buying an additional 272,911 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of L Brands by 91.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,948 shares of the specialty retailer’s stock worth $2,635,000 after buying an additional 26,779 shares during the last quarter. Tobam boosted its position in shares of L Brands by 430.9% in the first quarter. Tobam now owns 108,140 shares of the specialty retailer’s stock worth $5,093,000 after buying an additional 87,770 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of L Brands during the first quarter worth about $608,000. 74.20% of the stock is currently owned by institutional investors and hedge funds.
L Brands Inc (NYSE:LB) traded down 1.41% during midday trading on Friday, reaching $48.99. 4,741,887 shares of the company’s stock were exchanged. L Brands Inc has a 12 month low of $43.04 and a 12 month high of $79.67. The firm has a 50 day moving average of $49.37 and a 200-day moving average of $58.56. The stock has a market cap of $13.96 billion, a PE ratio of 12.91 and a beta of 0.82.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.46 billion. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. On average, equities research analysts predict that L Brands Inc will post $3.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.83%. L Brands’s dividend payout ratio (DPR) is presently 60.61%.
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A number of equities analysts have issued reports on the stock. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $55.00 price objective (up from $52.00) on shares of L Brands in a research note on Friday. FBR & Co set a $60.00 price objective on shares of L Brands and gave the company a “buy” rating in a research note on Thursday. Jefferies Group LLC reaffirmed an “underperform” rating and issued a $35.00 price objective on shares of L Brands in a research note on Friday. Instinet reiterated a “neutral” rating and issued a $49.00 target price (up from $48.00) on shares of L Brands in a report on Friday. Finally, Vetr lowered shares of L Brands from a “buy” rating to a “hold” rating and set a $49.96 target price on the stock. in a report on Monday. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $60.52.
In other news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the transaction, the chief executive officer now owns 75,658 shares in the company, valued at $3,698,163.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.45% of the company’s stock.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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