Victory Capital Management Inc. raised its holdings in L Brands Inc (NYSE:LB) by 97.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 265,566 shares of the specialty retailer’s stock after acquiring an additional 131,198 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of L Brands worth $8,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in LB. Ironwood Investment Counsel LLC grew its position in shares of L Brands by 27.7% during the 3rd quarter. Ironwood Investment Counsel LLC now owns 19,238 shares of the specialty retailer’s stock worth $582,000 after buying an additional 4,177 shares in the last quarter. Brandes Investment Partners LP grew its position in shares of L Brands by 275.8% during the 2nd quarter. Brandes Investment Partners LP now owns 58,156 shares of the specialty retailer’s stock worth $2,145,000 after buying an additional 42,680 shares in the last quarter. Intact Investment Management Inc. bought a new position in shares of L Brands during the 2nd quarter worth $2,331,000. Bank of America Corp DE grew its position in shares of L Brands by 55.2% during the 2nd quarter. Bank of America Corp DE now owns 651,871 shares of the specialty retailer’s stock worth $24,042,000 after buying an additional 231,777 shares in the last quarter. Finally, Mackay Shields LLC grew its position in shares of L Brands by 41.2% during the 2nd quarter. Mackay Shields LLC now owns 288,148 shares of the specialty retailer’s stock worth $10,627,000 after buying an additional 84,013 shares in the last quarter. 70.55% of the stock is currently owned by institutional investors.

L Brands stock opened at $35.28 on Monday. L Brands Inc has a one year low of $25.89 and a one year high of $63.10. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.16 and a beta of 0.33.

L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 EPS 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 company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts predict that L Brands Inc will post 2.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date is Wednesday, November 21st. L Brands’s dividend payout ratio (DPR) is presently 75.00%.

A number of research firms have recently issued reports on LB. Citigroup increased their price target on L Brands from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, November 12th. Zacks Investment Research reissued a “buy” rating and set a $35.00 price target on shares of L Brands in a research report on Tuesday, November 13th. Barclays set a $33.00 price target on L Brands and gave the stock a “hold” rating in a research report on Tuesday, November 13th. ValuEngine raised L Brands from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 8th. Finally, KeyCorp raised L Brands from an “underweight” rating to a “sector weight” rating in a research report on Thursday, November 8th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $37.69.

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About L Brands

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: Systematic Risk and Investors

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

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