L Brands Inc (LB) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of L Brands Inc (NYSE:LB) by 22.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,686,021 shares of the specialty retailer’s stock after buying an additional 498,990 shares during the period. Bank of New York Mellon Corp owned 0.94% of L Brands worth $126,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LB. Teachers Advisors LLC increased its position in shares of L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock valued at $19,647,000 after buying an additional 18,142 shares during the period. Three Peaks Capital Management LLC increased its position in shares of L Brands by 3.3% in the third quarter. Three Peaks Capital Management LLC now owns 73,364 shares of the specialty retailer’s stock valued at $5,192,000 after buying an additional 2,364 shares during the period. Kentucky Retirement Systems purchased a new position in shares of L Brands during the fourth quarter valued at approximately $1,148,000. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of L Brands during the third quarter valued at approximately $234,000. Finally, SkyBridge Capital II LLC increased its position in shares of L Brands by 10.5% in the third quarter. SkyBridge Capital II LLC now owns 173,316 shares of the specialty retailer’s stock valued at $12,266,000 after buying an additional 16,539 shares during the period. Institutional investors and hedge funds own 74.20% of the company’s stock.

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

Shares of L Brands Inc (NYSE:LB) traded down 1.41% during midday trading on Friday, reaching $48.99. 4,741,887 shares of the company’s stock were exchanged. L Brands Inc has a 12 month low of $43.04 and a 12 month high of $79.67. The company has a market cap of $13.96 billion, a P/E ratio of 12.91 and a beta of 0.82. The firm has a 50 day moving average price of $49.37 and a 200 day moving average price of $58.56.

L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. L Brands had a negative return on equity of 137.81% and a net margin of 9.31%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue was down 6.8% on a year-over-year basis. Equities research analysts forecast that L Brands Inc will post $3.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.83%. L Brands’s dividend payout ratio is presently 60.61%.

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Several research firms have issued reports on LB. Piper Jaffray Companies restated a “hold” rating and issued a $48.00 price target on shares of L Brands in a research report on Monday. Jefferies Group LLC restated an “underperform” rating and issued a $35.00 price target on shares of L Brands in a research report on Friday. Vetr downgraded shares of L Brands from a “buy” rating to a “hold” rating and set a $49.96 target price for the company. in a research note on Monday. Instinet reaffirmed a “neutral” rating and issued a $49.00 target price (up from $48.00) on shares of L Brands in a research note on Friday. Finally, FBR & Co set a $54.00 target price on shares of L Brands and gave the stock a “hold” rating in a research note on Saturday, March 4th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $60.52.

In other news, CEO Nicholas Coe sold 39,839 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the sale, the chief executive officer now directly owns 75,658 shares in the company, valued at $3,698,163.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 16.45% of the company’s stock.

L Brands Company Profile

L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.

5 Day Chart for NYSE:LB

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