Family Management Corp acquired a new stake in L Brands Inc (NYSE:LB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 110,438 shares of the specialty retailer’s stock, valued at approximately $4,073,000. L Brands makes up about 2.5% of Family Management Corp’s investment portfolio, making the stock its 16th largest position.
Other hedge funds have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in L Brands by 2.7% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 70,793 shares of the specialty retailer’s stock worth $2,705,000 after purchasing an additional 1,856 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in L Brands by 71.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 358,113 shares of the specialty retailer’s stock worth $13,686,000 after buying an additional 149,249 shares during the period. Eaton Vance Management increased its position in L Brands by 110.8% during the first quarter. Eaton Vance Management now owns 218,452 shares of the specialty retailer’s stock worth $8,347,000 after buying an additional 114,826 shares during the period. Schwab Charles Investment Management Inc. increased its position in L Brands by 0.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 960,346 shares of the specialty retailer’s stock worth $36,695,000 after buying an additional 6,689 shares during the period. Finally, Pendal Group Ltd increased its position in L Brands by 44.2% during the first quarter. Pendal Group Ltd now owns 26,103 shares of the specialty retailer’s stock worth $997,000 after buying an additional 8,002 shares during the period. Institutional investors own 73.42% of the company’s stock.
NYSE LB traded down $0.40 during mid-day trading on Friday, reaching $28.46. 5,556,255 shares of the company’s stock traded hands, compared to its average volume of 5,017,880. L Brands Inc has a 1-year low of $25.89 and a 1-year high of $63.10. The company has a quick ratio of 0.75, a current ratio of 1.46 and a debt-to-equity ratio of -5.09. The firm has a market cap of $8.33 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the firm earned $0.48 EPS. L Brands’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts anticipate that L Brands Inc will post 2.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 24th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 8.43%. The ex-dividend date was Thursday, August 23rd. L Brands’s dividend payout ratio is presently 75.00%.
A number of research analysts have recently issued reports on the company. ValuEngine lowered L Brands from a “sell” rating to a “strong sell” rating in a report on Tuesday. Piper Jaffray Companies set a $28.00 target price on L Brands and gave the stock a “hold” rating in a research report on Thursday, September 20th. Bank of America upgraded L Brands from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $26.00 to $33.00 in a research report on Tuesday, September 18th. Nomura decreased their target price on L Brands from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, September 7th. Finally, Zacks Investment Research downgraded L Brands from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Five research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.76.
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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