Scopus Asset Management L.P. Reduces Stock Holdings in L Brands, Inc. (NYSE:LB)

Scopus Asset Management L.P. trimmed its position in L Brands, Inc. (NYSE:LB) by 40.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,050,000 shares of the specialty retailer’s stock after selling 700,000 shares during the quarter. Scopus Asset Management L.P. owned about 0.38% of L Brands worth $64,953,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of L Brands during the 4th quarter worth about $29,000. Jones Financial Companies Lllp purchased a new position in L Brands during the first quarter worth about $29,000. Bessemer Group Inc. increased its position in shares of L Brands by 50.5% during the first quarter. Bessemer Group Inc. now owns 495 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 166 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in shares of L Brands by 4,818.2% in the 1st quarter. Carroll Financial Associates Inc. now owns 541 shares of the specialty retailer’s stock valued at $33,000 after acquiring an additional 530 shares during the period. Finally, Tradition Wealth Management LLC acquired a new position in shares of L Brands in the 1st quarter worth approximately $37,000. 78.62% of the stock is owned by institutional investors and hedge funds.

In related news, insider James L. Bersani sold 36,458 shares of the company’s stock in a transaction on Thursday, May 27th. The shares were sold at an average price of $69.21, for a total value of $2,523,258.18. Following the completion of the sale, the insider now owns 198,166 shares in the company, valued at approximately $13,715,068.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Leslie H. Wexner sold 23,001,096 shares of the firm’s stock in a transaction on Monday, July 19th. The stock was sold at an average price of $73.01, for a total transaction of $1,679,310,018.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,037,554 shares of company stock valued at $2,008,333,277. Insiders own 17.83% of the company’s stock.

LB has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price target on L Brands from $88.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, July 14th. JPMorgan Chase & Co. raised their target price on L Brands from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, July 12th. CIBC boosted their price target on shares of L Brands from $40.00 to $43.00 and gave the stock an “underperformer” rating in a research note on Thursday, June 3rd. Credit Suisse Group raised their price objective on shares of L Brands from $67.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, May 20th. Finally, MKM Partners upped their target price on shares of L Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Tuesday, March 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. L Brands has a consensus rating of “Buy” and an average target price of $65.74.

LB stock traded up $0.25 during midday trading on Thursday, reaching $76.01. 90,558 shares of the company were exchanged, compared to its average volume of 4,432,695. The company has a market capitalization of $20.88 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 0.93 and a beta of 1.75. L Brands, Inc. has a 1-year low of $18.44 and a 1-year high of $77.87. The company’s 50-day moving average price is $69.47.

L Brands (NYSE:LB) last announced its quarterly earnings results on Tuesday, May 18th. The specialty retailer reported $1.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.25. L Brands had a net margin of 10.73% and a negative return on equity of 137.83%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the business earned ($0.99) EPS. L Brands’s revenue for the quarter was up 82.8% compared to the same quarter last year. On average, equities analysts predict that L Brands, Inc. will post 6.13 EPS for the current fiscal year.

The company also recently announced a — dividend, which was paid on Friday, June 18th. Stockholders of record on Friday, June 4th were issued a $0.15 dividend. This represents a dividend yield of 0.86%. The ex-dividend date was Thursday, June 3rd. L Brands’s payout ratio is currently 17.34%.

About L Brands

L Brands, Inc engages in the retail of women’s intimate and other apparel, personal care, beauty and home fragrance products. It operates through the following segments: Victoria’s Secret, Bath & Body Works and Victoria’s Secret and Bath & Body Works International. The Victoria’s Secret segment sells women’s intimate and other apparel, personal care and beauty products under the Victoria’s Secret and PINK brand names.

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Institutional Ownership by Quarter for L Brands (NYSE:LB)

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