Van ECK Associates Corp Acquires 132,913 Shares of L Brands Inc (LB)

Van ECK Associates Corp lifted its holdings in L Brands Inc (NYSE:LB) by 16.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 966,083 shares of the specialty retailer’s stock after acquiring an additional 132,913 shares during the quarter. Van ECK Associates Corp’s holdings in L Brands were worth $35,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LB. BlackRock Inc. increased its stake in shares of L Brands by 10.7% in the first quarter. BlackRock Inc. now owns 21,861,287 shares of the specialty retailer’s stock worth $835,321,000 after buying an additional 2,107,414 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of L Brands by 821.6% in the first quarter. The Manufacturers Life Insurance Company now owns 2,707,103 shares of the specialty retailer’s stock worth $103,438,000 after buying an additional 2,413,375 shares during the period. Makaira Partners LLC increased its stake in shares of L Brands by 235.5% in the first quarter. Makaira Partners LLC now owns 2,523,582 shares of the specialty retailer’s stock worth $96,426,000 after buying an additional 1,771,382 shares during the period. Flossbach Von Storch AG increased its stake in shares of L Brands by 1.0% in the second quarter. Flossbach Von Storch AG now owns 1,622,890 shares of the specialty retailer’s stock worth $59,852,000 after buying an additional 16,100 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of L Brands by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,492,039 shares of the specialty retailer’s stock worth $55,026,000 after buying an additional 6,632 shares during the period. Hedge funds and other institutional investors own 72.64% of the company’s stock.

LB has been the topic of a number of research analyst reports. Nomura boosted their price objective on shares of L Brands from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, June 7th. UBS Group initiated coverage on shares of L Brands in a research report on Thursday, June 21st. They set a “neutral” rating and a $37.00 price objective on the stock. B. Riley reduced their price objective on shares of L Brands from $58.00 to $49.00 and set a “buy” rating on the stock in a research report on Friday, May 25th. Barclays reissued a “hold” rating and set a $34.00 price objective on shares of L Brands in a research report on Monday, May 28th. Finally, Deutsche Bank reduced their price objective on shares of L Brands from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, May 24th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $37.56.

Shares of NYSE:LB traded up $0.04 during midday trading on Friday, reaching $26.59. The company’s stock had a trading volume of 17,654 shares, compared to its average volume of 7,345,646. The company has a market capitalization of $7.34 billion, a PE ratio of 8.33, a P/E/G ratio of 0.92 and a beta of 0.56. The company has a debt-to-equity ratio of -5.90, a current ratio of 1.56 and a quick ratio of 0.83. L Brands Inc has a 12-month low of $25.89 and a 12-month high of $63.10.

L Brands (NYSE:LB) last released its earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.92 billion. L Brands had a net margin of 6.87% and a negative return on equity of 88.04%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. equities analysts anticipate that L Brands Inc will post 2.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Friday, August 24th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 9.03%. The ex-dividend date of this dividend is Thursday, August 23rd. L Brands’s dividend payout ratio is presently 75.00%.

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

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