Creative Planning cut its holdings in shares of L Brands Inc (NYSE:LB) by 19.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,583 shares of the specialty retailer’s stock after selling 2,634 shares during the period. Creative Planning’s holdings in L Brands were worth $192,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of LB. FNY Investment Advisers LLC raised its holdings in L Brands by 1,767.0% during the fourth quarter. FNY Investment Advisers LLC now owns 1,755 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 1,661 shares in the last quarter. NuWave Investment Management LLC raised its holdings in L Brands by 757.8% during the third quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 1,690 shares in the last quarter. Strategic Blueprint LLC bought a new stake in L Brands during the third quarter worth approximately $33,000. Tower Research Capital LLC TRC raised its holdings in L Brands by 827.2% during the third quarter. Tower Research Capital LLC TRC now owns 4,469 shares of the specialty retailer’s stock worth $87,000 after purchasing an additional 3,987 shares in the last quarter. Finally, Dupont Capital Management Corp raised its holdings in L Brands by 8.8% during the fourth quarter. Dupont Capital Management Corp now owns 7,800 shares of the specialty retailer’s stock worth $141,000 after purchasing an additional 632 shares in the last quarter. Institutional investors and hedge funds own 71.42% of the company’s stock.
Shares of NYSE:LB opened at $24.34 on Friday. The company’s fifty day moving average is $20.86 and its two-hundred day moving average is $19.25. L Brands Inc has a 12-month low of $15.80 and a 12-month high of $29.02. The company has a market cap of $6.67 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 0.98 and a beta of 0.76.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, November 20th. The specialty retailer reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. L Brands had a net margin of 2.80% and a negative return on equity of 72.15%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the business earned $0.16 EPS. The company’s revenue was down 3.5% on a year-over-year basis. Analysts expect that L Brands Inc will post 2.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.93%. The ex-dividend date is Thursday, February 20th. L Brands’s dividend payout ratio (DPR) is currently 42.55%.
Several equities research analysts recently commented on the company. Deutsche Bank raised L Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $22.00 to $24.00 in a report on Friday, January 10th. Guggenheim reaffirmed a “hold” rating on shares of L Brands in a report on Thursday, January 9th. ValuEngine raised L Brands from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Jefferies Financial Group raised L Brands to a “sell” rating and set a $14.00 price target on the stock in a report on Friday, January 3rd. Finally, Bank of America raised L Brands from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.00 to $25.00 in a report on Friday, January 3rd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and an average target price of $21.67.
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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