Sumitomo Mitsui Asset Management Company LTD lowered its stake in shares of L Brands Inc (NYSE:LB) by 3.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,499 shares of the specialty retailer’s stock after selling 658 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in L Brands were worth $918,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Alecta Pensionsforsakring Omsesidigt boosted its stake in L Brands by 0.3% in the third quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,833,000 shares of the specialty retailer’s stock valued at $766,543,000 after buying an additional 30,000 shares in the last quarter. State Street Corp boosted its stake in L Brands by 2.1% in the fourth quarter. State Street Corp now owns 10,109,413 shares of the specialty retailer’s stock valued at $665,599,000 after buying an additional 208,433 shares in the last quarter. CAM Group Holding A S boosted its stake in L Brands by 4.2% in the third quarter. CAM Group Holding A S now owns 3,824,757 shares of the specialty retailer’s stock valued at $270,678,000 after buying an additional 155,551 shares in the last quarter. Norges Bank bought a new stake in L Brands during the fourth quarter valued at approximately $119,358,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in L Brands during the fourth quarter valued at approximately $115,157,000. 74.20% of the stock is owned by institutional investors and hedge funds.
Shares of L Brands Inc (NYSE:LB) traded down 2.69% during mid-day trading on Friday, hitting $49.48. 302,685 shares of the stock were exchanged. L Brands Inc has a 52-week low of $43.04 and a 52-week high of $79.67. The stock has a 50-day moving average price of $49.11 and a 200 day moving average price of $59.49. The firm has a market cap of $14.10 billion, a price-to-earnings ratio of 12.43 and a beta of 0.82.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, February 22nd. The specialty retailer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.13. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.51 billion. L Brands had a negative return on equity of 137.81% and a net margin of 9.31%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $2.15 EPS. On average, equities research analysts expect that L Brands Inc will post $3.21 earnings per share for the current year.
Several equities research analysts have recently commented on the stock. Vetr raised shares of L Brands from a “hold” rating to a “buy” rating and set a $53.02 target price for the company in a research report on Thursday. MKM Partners reaffirmed a “neutral” rating and issued a $51.00 target price (down from $52.00) on shares of L Brands in a research report on Friday, May 5th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $48.00 target price on shares of L Brands in a research report on Friday, May 5th. Deutsche Bank AG dropped their target price on shares of L Brands from $62.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, May 5th. Finally, Oppenheimer Holdings Inc. set a $62.00 target price on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, May 4th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the company. L Brands has an average rating of “Hold” and a consensus price target of $61.31.
About L Brands
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.
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