Family Management Corp bought a new position in L Brands Inc (NYSE:LB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 110,438 shares of the specialty retailer’s stock, valued at approximately $4,073,000. L Brands makes up about 2.5% of Family Management Corp’s holdings, making the stock its 16th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of LB. Piedmont Investment Advisors LLC bought a new stake in L Brands during the 2nd quarter worth approximately $104,000. Gradient Investments LLC bought a new stake in L Brands during the 2nd quarter worth approximately $109,000. Private Capital Group LLC grew its position in L Brands by 6,777.3% during the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after acquiring an additional 2,982 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in L Brands during the 1st quarter worth approximately $117,000. Finally, IBM Retirement Fund grew its position in L Brands by 46.8% during the 1st quarter. IBM Retirement Fund now owns 5,279 shares of the specialty retailer’s stock worth $202,000 after acquiring an additional 1,684 shares during the last quarter. 72.86% of the stock is owned by institutional investors and hedge funds.

NYSE:LB opened at $27.44 on Friday. L Brands Inc has a 12-month low of $25.89 and a 12-month high of $63.10. The company has a debt-to-equity ratio of -5.09, a quick ratio of 0.83 and a current ratio of 1.46. The firm has a market capitalization of $7.73 billion, a PE ratio of 9.55, a P/E/G ratio of 0.97 and a beta of 0.56.

L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company earned $0.48 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. analysts forecast that L Brands Inc will post 2.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 24th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $2.40 annualized dividend and a dividend yield of 8.75%. L Brands’s dividend payout ratio is currently 75.00%.

A number of equities research analysts recently commented on the company. Zacks Investment Research lowered L Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Barclays decreased their price target on L Brands from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, August 23rd. Morgan Stanley lowered L Brands from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $56.00 to $32.00 in a research report on Thursday, August 23rd. JPMorgan Chase & Co. decreased their price target on L Brands from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, August 10th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $30.00 price objective on shares of L Brands in a research report on Thursday, May 24th. Six analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and an average target price of $37.56.

L Brands Profile

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

Further Reading: Fiduciary

Institutional Ownership by Quarter for L Brands (NYSE:LB)

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