Candriam Luxembourg S.C.A. Acquires 1,127 Shares of L Brands Inc. (LB)
Candriam Luxembourg S.C.A. boosted its stake in shares of L Brands Inc. (NYSE:LB) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 19,293 shares of the company’s stock after buying an additional 1,127 shares during the period. Candriam Luxembourg S.C.A.’s holdings in L Brands were worth $1,295,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Artemis Investment Management LLP bought a new position in shares of L Brands during the second quarter worth approximately $93,181,000. Wellington Management Group LLP increased its position in shares of L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock worth $232,522,000 after buying an additional 1,358,509 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt increased its position in shares of L Brands by 8.2% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,803,000 shares of the company’s stock worth $725,421,000 after buying an additional 815,000 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of L Brands during the first quarter worth approximately $35,118,000. Finally, BlackRock Group LTD increased its position in shares of L Brands by 20.3% in the first quarter. BlackRock Group LTD now owns 2,132,871 shares of the company’s stock worth $187,287,000 after buying an additional 359,878 shares in the last quarter. 75.60% of the stock is owned by institutional investors.
L Brands Inc. (NYSE:LB) traded up 0.24% during trading on Wednesday, reaching $70.52. The company had a trading volume of 1,768,191 shares. The firm has a market capitalization of $20.17 billion, a price-to-earnings ratio of 17.19 and a beta of 0.91. The stock has a 50 day moving average price of $73.78 and a 200 day moving average price of $73.43. L Brands Inc. has a 12 month low of $60.00 and a 12 month high of $101.11.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The business had revenue of $2.89 billion for the quarter. During the same quarter in the prior year, the firm posted $0.68 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that L Brands Inc. will post $3.83 earnings per share for the current year.
A number of equities analysts recently issued reports on LB shares. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating and issued a $75.00 price target on shares of L Brands in a report on Tuesday, June 21st. Bank of America Corp. downgraded L Brands from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $74.00 to $57.00 in a report on Tuesday, June 28th. Vetr downgraded L Brands from a “strong-buy” rating to a “hold” rating and set a $66.86 price target for the company. in a report on Tuesday, June 28th. FBR & Co reaffirmed a “market perform” rating and issued a $63.00 price target on shares of L Brands in a report on Wednesday, July 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $75.00 price target on shares of L Brands in a report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.52.
In other L Brands news, insider Martin P. Waters sold 45,500 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the transaction, the insider now owns 13,970 shares in the company, valued at $1,082,535.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas Coe sold 4,951 shares of the business’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 disclosure for this sale can be found here. 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 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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