Wedge Capital Management L L P NC Invests $670,000 in L Brands Inc (NYSE:LB)

Wedge Capital Management L L P NC purchased a new position in shares of L Brands Inc (NYSE:LB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,659 shares of the specialty retailer’s stock, valued at approximately $670,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace North America L.P. lifted its stake in L Brands by 236.8% during the first quarter. Marshall Wace North America L.P. now owns 133,024 shares of the specialty retailer’s stock worth $3,669,000 after purchasing an additional 93,522 shares during the last quarter. Davy Asset Management Ltd bought a new position in L Brands during the second quarter worth $1,973,000. Exane Derivatives lifted its stake in L Brands by 11.5% during the first quarter. Exane Derivatives now owns 139,415 shares of the specialty retailer’s stock worth $3,844,000 after purchasing an additional 14,350 shares during the last quarter. Geode Capital Management LLC lifted its stake in L Brands by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,977,260 shares of the specialty retailer’s stock worth $76,373,000 after purchasing an additional 95,224 shares during the last quarter. Finally, Barings LLC bought a new position in L Brands during the first quarter worth $598,000. 68.41% of the stock is owned by institutional investors and hedge funds.

LB stock traded up $0.67 during mid-day trading on Friday, reaching $20.36. The company had a trading volume of 4,876,000 shares, compared to its average volume of 4,112,334. The stock has a market capitalization of $5.42 billion, a P/E ratio of 7.22, a P/E/G ratio of 0.75 and a beta of 0.69. L Brands Inc has a one year low of $19.45 and a one year high of $38.00. The stock’s 50-day simple moving average is $25.25 and its two-hundred day simple moving average is $25.46.

L Brands (NYSE:LB) last posted its earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.56 billion. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. As a group, research analysts predict that L Brands Inc will post 2.4 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Thursday, August 22nd. L Brands’s payout ratio is 42.55%.

Several equities analysts recently issued reports on the company. Wells Fargo & Co set a $35.00 price objective on L Brands and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Royal Bank of Canada set a $35.00 price objective on L Brands and gave the stock a “buy” rating in a research note on Friday, May 24th. Odeon Capital Group assumed coverage on L Brands in a research note on Friday, April 26th. They set a “buy” rating on the stock. Loop Capital reduced their price objective on L Brands to $20.00 and set a “sell” rating on the stock in a research note on Wednesday, May 15th. Finally, Bank of America set a $30.00 price objective on L Brands and gave the stock a “hold” rating in a research note on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.17.

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

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