L Brands, Inc. (LB) Shares Bought by Disciplined Growth Investors Inc. MN
Disciplined Growth Investors Inc. MN lifted its holdings in shares of L Brands, Inc. (NYSE:LB) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,981,735 shares of the specialty retailer’s stock after purchasing an additional 10,240 shares during the quarter. L Brands accounts for about 2.2% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 14th biggest position. Disciplined Growth Investors Inc. MN owned about 0.69% of L Brands worth $106,796,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Personal Financial Services raised its position in shares of L Brands by 127.7% during the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after purchasing an additional 1,096 shares during the period. FNY Partners Fund LP acquired a new stake in shares of L Brands during the first quarter worth about $129,000. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of L Brands by 11.2% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after purchasing an additional 375 shares during the period. Summit Financial Strategies Inc. acquired a new stake in shares of L Brands during the second quarter worth about $214,000. Finally, Advisor Partners LLC acquired a new stake in shares of L Brands during the second quarter worth about $215,000. 79.48% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $57.00 price target on shares of L Brands in a research report on Monday, September 18th. Zacks Investment Research lowered L Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. FBR & Co reaffirmed a “buy” rating and set a $58.00 price target on shares of L Brands in a research report on Wednesday, October 4th. Vetr raised L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 price target on the stock in a research report on Monday, June 19th. Finally, BMO Capital Markets set a $37.00 price target on L Brands and gave the stock a “market perform” rating in a research report on Friday, August 18th. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.41.
Shares of L Brands, Inc. (LB) traded up 1.79% on Friday, hitting $42.17. The stock had a trading volume of 798,288 shares. L Brands, Inc. has a 52 week low of $35.00 and a 52 week high of $75.50. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 12.38 and a beta of 0.68. The company has a 50-day moving average of $39.61 and a 200 day moving average of $45.92.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts predict that L Brands, Inc. will post $3.13 EPS for the current year.
L Brands declared that its board has approved a share buyback program on Monday, September 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Allan R. Tessler purchased 20,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was purchased at an average cost of $37.00 per share, with a total value of $740,000.00. Following the completion of the acquisition, the director now directly owns 43,342 shares of the company’s stock, valued at $1,603,654. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.68% of the stock is owned by company insiders.
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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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