Rezny Wealth Management Inc. Maintains Stake in L Brands, Inc. (LB)
Rezny Wealth Management Inc. maintained its position in shares of L Brands, Inc. (NYSE:LB) during the second quarter, according to its most recent filing with the SEC. The firm owned 38,000 shares of the specialty retailer’s stock at the end of the second quarter. L Brands makes up approximately 1.6% of Rezny Wealth Management Inc.’s holdings, making the stock its 14th largest position. Rezny Wealth Management Inc.’s holdings in L Brands were worth $2,047,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Advisors LLC increased its position in shares of L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock valued at $19,647,000 after buying an additional 18,142 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of L Brands by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 208,818 shares of the specialty retailer’s stock valued at $9,835,000 after buying an additional 5,194 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of L Brands by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 74,113 shares of the specialty retailer’s stock valued at $3,490,000 after buying an additional 900 shares in the last quarter. National Pension Service increased its position in shares of L Brands by 28.3% in the first quarter. National Pension Service now owns 261,227 shares of the specialty retailer’s stock valued at $12,411,000 after buying an additional 57,596 shares in the last quarter. Finally, Verde Servicos Internacionais S.A. acquired a new position in shares of L Brands during the first quarter valued at approximately $569,000. Institutional investors own 75.43% of the company’s stock.
L Brands, Inc. (NYSE LB) opened at 42.67 on Wednesday. The stock’s 50 day moving average price is $48.04 and its 200-day moving average price is $51.33. L Brands, Inc. has a 12-month low of $41.28 and a 12-month high of $79.67. The firm has a market cap of $12.24 billion, a PE ratio of 11.24 and a beta of 0.62.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was down 6.8% compared to the same quarter last year. Equities research analysts anticipate that L Brands, Inc. will post $3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.60 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.62%. L Brands’s dividend payout ratio (DPR) is presently 63.16%.
Several research analysts have recently commented on LB shares. Nomura reiterated a “hold” rating and set a $48.00 target price on shares of L Brands in a research note on Tuesday, April 11th. Piper Jaffray Companies reiterated a “neutral” rating and set a $48.00 target price on shares of L Brands in a research note on Wednesday, April 12th. Royal Bank Of Canada reiterated a “hold” rating on shares of L Brands in a research note on Tuesday, April 18th. Vetr downgraded L Brands from a “strong-buy” rating to a “buy” rating and set a $55.51 target price for the company. in a research note on Monday, April 24th. Finally, Zacks Investment Research upgraded L Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $55.76.
In related news, CEO Nicholas Coe sold 39,839 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the sale, the chief executive officer now owns 75,658 shares in the company, valued at $3,698,163.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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