Bright Rock Capital Management LLC Has $1,832,000 Stake in L Brands, Inc. (NYSE:LB)
Bright Rock Capital Management LLC continued to hold its position in L Brands, Inc. (NYSE:LB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,000 shares of the specialty retailer’s stock at the end of the second quarter. Bright Rock Capital Management LLC’s holdings in L Brands were worth $1,832,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. DnB Asset Management AS increased its position in L Brands by 18.1% in the first quarter. DnB Asset Management AS now owns 27,459 shares of the specialty retailer’s stock valued at $1,293,000 after buying an additional 4,200 shares in the last quarter. Gateway Investment Advisers LLC increased its position in L Brands by 10.0% in the first quarter. Gateway Investment Advisers LLC now owns 221,500 shares of the specialty retailer’s stock valued at $10,433,000 after buying an additional 20,134 shares in the last quarter. Heritage Investors Management Corp increased its position in L Brands by 17.5% in the first quarter. Heritage Investors Management Corp now owns 146,953 shares of the specialty retailer’s stock valued at $6,921,000 after buying an additional 21,835 shares in the last quarter. Financial & Investment Management Group Ltd. bought a new position in L Brands during the first quarter valued at about $2,678,000. Finally, Skylands Capital LLC increased its position in L Brands by 51.4% in the first quarter. Skylands Capital LLC now owns 96,825 shares of the specialty retailer’s stock valued at $4,560,000 after buying an additional 32,875 shares in the last quarter. Institutional investors own 75.43% of the company’s stock.
Shares of L Brands, Inc. (NYSE LB) opened at 42.66 on Thursday. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 11.24 and a beta of 0.62. L Brands, Inc. has a 12 month low of $41.28 and a 12 month high of $79.67. The company’s 50-day moving average is $47.26 and its 200-day moving average is $50.86.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.46 billion. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. On average, equities research analysts forecast that L Brands, Inc. will post $3.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.40 annualized dividend and a yield of 5.63%. L Brands’s dividend payout ratio is presently 63.16%.
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Several research firms have issued reports on LB. Cowen and Company restated a “buy” rating and issued a $56.00 price objective on shares of L Brands in a research note on Tuesday, July 4th. FBR & Co set a $60.00 price objective on shares of L Brands and gave the company a “buy” rating in a research note on Tuesday, July 4th. Jefferies Group LLC set a $35.00 price objective on shares of L Brands and gave the company a “sell” rating in a research note on Tuesday, July 4th. Vetr downgraded shares of L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 price objective for the company. in a research note on Monday, June 12th. Finally, ValuEngine downgraded shares of L Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have issued a buy rating to the company’s stock. L Brands has a consensus rating of “Hold” and an average price target of $55.76.
In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the transaction, the chief executive officer now owns 75,658 shares in the company, valued at approximately $3,698,163.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 16.45% of the stock is currently owned by corporate insiders.
About L Brands
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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