Integrated Wealth Management Decreases Position in L Brands Inc. (LB)
Integrated Wealth Management reduced its position in L Brands Inc. (NYSE:LB) by 22.3% during the second quarter, Holdings Channel reports. The firm owned 4,950 shares of the company’s stock after selling 1,419 shares during the period. Integrated Wealth Management’s holdings in L Brands were worth $332,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Alecta Pensionsforsakring Omsesidigt raised its stake in 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 during the period. CAM Group Holding A S raised its stake in L Brands by 2.5% in the second quarter. CAM Group Holding A S now owns 3,669,206 shares of the company’s stock worth $246,314,000 after buying an additional 89,166 shares during the period. Wellington Management Group LLP raised its stake in 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 during the period. Geode Capital Management LLC raised its stake in L Brands by 2.0% in the first quarter. Geode Capital Management LLC now owns 2,026,626 shares of the company’s stock worth $177,593,000 after buying an additional 39,922 shares during the period. Finally, Flossbach Von Storch AG raised its stake in L Brands by 428.2% in the second quarter. Flossbach Von Storch AG now owns 1,686,624 shares of the company’s stock worth $113,223,000 after buying an additional 1,367,300 shares during the period. 75.58% of the stock is currently owned by institutional investors.
Shares of L Brands Inc. (NYSE:LB) traded up 0.53% on Wednesday, hitting $72.47. 623,273 shares of the company traded hands. The company has a market capitalization of $20.72 billion, a PE ratio of 17.66 and a beta of 0.91. The stock’s 50-day moving average price is $72.50 and its 200-day moving average price is $72.47. L Brands Inc. has a 12 month low of $60.00 and a 12 month high of $101.11.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The company earned $2.89 billion during the quarter. During the same quarter last year, the firm earned $0.68 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that L Brands Inc. will post $3.83 earnings per share for the current year.
LB has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $82.00 price objective (up from $75.00) on shares of L Brands in a research report on Friday, August 5th. Citigroup Inc. raised their target price on shares of L Brands from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. FBR & Co reaffirmed a “market perform” rating and set a $75.00 target price on shares of L Brands in a research report on Wednesday, August 31st. Morgan Stanley reaffirmed a “buy” rating and set a $80.00 target price on shares of L Brands in a research report on Tuesday, August 23rd. Finally, Nomura reaffirmed a “neutral” rating and set a $60.00 target price (up from $58.00) on shares of L Brands in a research report on Sunday, July 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. L Brands currently has an average rating of “Hold” and a consensus price target of $78.32.
In other L Brands news, insider Martin P. Waters sold 45,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the transaction, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total transaction of $1,808,976.19. The disclosure for this sale can be found here. 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 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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