L Brands Inc (LB) Holdings Decreased by Prudential Financial Inc.
Prudential Financial Inc. cut its holdings in shares of L Brands Inc (NYSE:LB) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 258,070 shares of the specialty retailer’s stock after selling 6,600 shares during the quarter. Prudential Financial Inc. owned about 0.09% of L Brands worth $7,820,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Makaira Partners LLC increased its holdings in shares of L Brands by 33.3% during the 2nd quarter. Makaira Partners LLC now owns 3,364,372 shares of the specialty retailer’s stock worth $124,078,000 after acquiring an additional 840,790 shares during the last quarter. Northern Trust Corp increased its holdings in shares of L Brands by 1.7% during the 2nd quarter. Northern Trust Corp now owns 2,772,817 shares of the specialty retailer’s stock worth $102,261,000 after acquiring an additional 46,322 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of L Brands by 28.4% during the 3rd quarter. Alps Advisors Inc. now owns 1,634,619 shares of the specialty retailer’s stock worth $49,529,000 after acquiring an additional 361,913 shares during the last quarter. Flossbach Von Storch AG increased its holdings in shares of L Brands by 1.0% during the 2nd quarter. Flossbach Von Storch AG now owns 1,622,890 shares of the specialty retailer’s stock worth $59,852,000 after acquiring an additional 16,100 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its holdings in shares of L Brands by 27.4% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,615,015 shares of the specialty retailer’s stock worth $48,935,000 after acquiring an additional 347,017 shares during the last quarter. 71.96% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. Citigroup boosted their target price on L Brands from $37.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, November 12th. Zacks Investment Research restated a “buy” rating and issued a $35.00 price target on shares of L Brands in a research note on Tuesday, November 13th. Barclays set a $33.00 price target on L Brands and gave the company a “hold” rating in a research note on Tuesday, November 13th. ValuEngine upgraded L Brands from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 8th. Finally, KeyCorp upgraded L Brands from an “underweight” rating to a “sector weight” rating in a research note on Thursday, November 8th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have given a buy rating to the stock. L Brands currently has a consensus rating of “Hold” and an average target price of $38.39.
L Brands (NYSE:LB) last released its earnings results on Monday, November 19th. The specialty retailer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.70 billion. L Brands had a negative return on equity of 76.28% and a net margin of 5.81%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. On average, sell-side analysts anticipate that L Brands Inc will post 2.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 7.19%. L Brands’s payout ratio is 75.00%.
In other news, Director Raymond Zimmerman sold 6,385 shares of the company’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $28.33, for a total transaction of $180,887.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.32% of the company’s stock.
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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