Makaira Partners LLC Purchases 840,790 Shares of L Brands Inc (LB)
Makaira Partners LLC grew its position in shares of L Brands Inc (NYSE:LB) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,364,372 shares of the specialty retailer’s stock after buying an additional 840,790 shares during the quarter. L Brands makes up about 14.1% of Makaira Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Makaira Partners LLC owned approximately 1.21% of L Brands worth $124,078,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in LB. Piedmont Investment Advisors LLC acquired a new stake in L Brands in the 2nd quarter worth approximately $104,000. Gradient Investments LLC acquired a new position in shares of L Brands during the second quarter worth approximately $109,000. Private Capital Group LLC lifted its holdings in shares of L Brands by 6,777.3% during the second quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after buying an additional 2,982 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of L Brands during the first quarter worth approximately $117,000. Finally, IBM Retirement Fund lifted its holdings in shares of L Brands by 46.8% during the first quarter. IBM Retirement Fund now owns 5,279 shares of the specialty retailer’s stock worth $202,000 after buying an additional 1,684 shares during the last quarter. Institutional investors and hedge funds own 72.86% of the company’s stock.
LB has been the subject of a number of research analyst reports. Guggenheim reiterated a “hold” rating on shares of L Brands in a report on Thursday, May 24th. Piper Jaffray Companies reiterated a “neutral” rating and set a $30.00 price target on shares of L Brands in a report on Thursday, May 24th. Sanford C. Bernstein cut their price target on L Brands from $52.00 to $47.00 and set an “outperform” rating for the company in a report on Thursday, May 24th. Nomura cut their price target on L Brands from $32.00 to $29.00 and set a “hold” rating for the company in a report on Thursday, May 24th. Finally, Deutsche Bank cut their price target on L Brands from $50.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, May 24th. Six research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the stock. L Brands has a consensus rating of “Hold” and an average price target of $37.56.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the business posted $0.48 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. research analysts predict that L Brands Inc will post 2.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 24th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 8.75%. The ex-dividend date of this dividend was Thursday, August 23rd. L Brands’s dividend payout ratio (DPR) is 75.00%.
L Brands Company 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.
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