Sentry Investment Management LLC Has $1,389,000 Stake in L Brands Inc. (LB)
Sentry Investment Management LLC continued to hold its position in L Brands Inc. (NYSE:LB) during the third quarter, Holdings Channel reports. The institutional investor owned 19,624 shares of the company’s stock at the end of the third quarter. Sentry Investment Management LLC’s holdings in L Brands were worth $1,389,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amica Retiree Medical Trust acquired a new position in L Brands during the third quarter valued at $106,000. Financial Architects Inc raised its stake in L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in L Brands during the second quarter valued at about $123,000. Whittier Trust Co. of Nevada Inc. raised its stake in L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock valued at $125,000 after buying an additional 572 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock valued at $138,000 after buying an additional 1,016 shares during the last quarter. Institutional investors own 73.59% of the company’s stock.
L Brands Inc. (NYSE:LB) traded down 2.40% during mid-day trading on Wednesday, reaching $70.22. 3,179,584 shares of the company traded hands. The company’s 50 day moving average price is $70.28 and its 200 day moving average price is $70.79. The firm has a market capitalization of $20.08 billion, a P/E ratio of 17.67 and a beta of 0.88. L Brands Inc. has a 12-month low of $60.00 and a 12-month high of $99.83.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, November 16th. The company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. L Brands had a negative return on equity of 137.81% and a net margin of 9.31%. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts predict that L Brands Inc. will post $3.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.42%. L Brands’s dividend payout ratio is presently 60.61%.
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LB has been the subject of several research reports. Wedbush restated a “neutral” rating and set a $65.00 price target on shares of L Brands in a research report on Sunday, September 4th. Citigroup Inc. upgraded shares of L Brands from a “neutral” rating to a “buy” rating and increased their price target for the company from $74.00 to $84.00 in a research report on Monday, November 14th. Zacks Investment Research upgraded shares of L Brands from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research report on Monday, August 22nd. Vetr upgraded shares of L Brands from a “buy” rating to a “strong-buy” rating and set a $73.19 price target for the company in a research report on Thursday, November 3rd. Finally, Mizuho increased their price target on shares of L Brands from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. L Brands presently has an average rating of “Hold” and an average target price of $75.28.
About L Brands
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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