Parametric Portfolio Associates LLC Has $25.87 Million Position in L Brands Inc (LB)
Parametric Portfolio Associates LLC cut its position in L Brands Inc (NYSE:LB) by 2.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 937,810 shares of the specialty retailer’s stock after selling 26,238 shares during the period. Parametric Portfolio Associates LLC’s holdings in L Brands were worth $25,865,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Investors Asset Management of Georgia Inc. GA ADV boosted its position in L Brands by 2.7% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 19,074 shares of the specialty retailer’s stock worth $526,000 after purchasing an additional 500 shares during the period. State Treasurer State of Michigan boosted its position in L Brands by 0.8% during the first quarter. State Treasurer State of Michigan now owns 65,844 shares of the specialty retailer’s stock worth $1,816,000 after purchasing an additional 500 shares during the period. ETF Managers Group LLC boosted its position in L Brands by 20.3% during the fourth quarter. ETF Managers Group LLC now owns 3,545 shares of the specialty retailer’s stock worth $91,000 after purchasing an additional 597 shares during the period. Daiwa Securities Group Inc. boosted its position in L Brands by 7.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,934 shares of the specialty retailer’s stock worth $229,000 after purchasing an additional 600 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in L Brands by 3.9% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,159 shares of the specialty retailer’s stock worth $492,000 after purchasing an additional 724 shares during the period. 69.15% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of L Brands from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. UBS Group lifted their price objective on shares of L Brands from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Wells Fargo & Co set a $35.00 price objective on shares of L Brands and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Credit Suisse Group dropped their target price on L Brands from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 28th. Finally, Bank of America set a $30.00 target price on L Brands and gave the stock a “hold” rating in a report on Thursday, May 23rd. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and a consensus price target of $31.96.
L Brands (NYSE:LB) last released its earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter. L Brands had a negative return on equity of 70.88% and a net margin of 4.81%. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities research analysts forecast that L Brands Inc will post 2.4 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Thursday, May 30th. L Brands’s dividend payout ratio (DPR) is currently 42.55%.
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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.
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