Ferguson Wellman Capital Management Inc. increased its stake in shares of L Brands, Inc. (NYSE:LB) by 1,202.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 83,933 shares of the specialty retailer’s stock after buying an additional 77,491 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in L Brands were worth $4,523,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Teachers Advisors LLC boosted its stake in 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 last quarter. Lincoln National Corp boosted its stake in L Brands by 51.5% in the first quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock valued at $1,668,000 after buying an additional 12,045 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock valued at $1,129,000 after buying an additional 18,575 shares during the last quarter. Kentucky Retirement Systems bought a new stake in L Brands during the fourth quarter valued at about $1,148,000. Finally, Hennessy Advisors Inc. bought a new stake in L Brands during the first quarter valued at about $1,681,000. Hedge funds and other institutional investors own 75.20% of the company’s stock.
Shares of L Brands, Inc. (LB) opened at 36.20 on Friday. The company has a 50-day moving average of $44.42 and a 200-day moving average of $49.87. L Brands, Inc. has a 1-year low of $35.00 and a 1-year high of $79.67. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 10.63 and a beta of 0.62. L Brands also saw some unusual options trading on Wednesday. Investors bought 18,485 call options on the company. This represents an increase of 663% compared to the typical volume of 2,424 call options.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. L Brands had a negative return on equity of 103.04% and a net margin of 8.04%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period last year, the business posted $0.70 EPS. L Brands’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts expect that L Brands, Inc. will post $3.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date is Wednesday, August 16th. L Brands’s dividend payout ratio (DPR) is 70.38%.
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Several equities research analysts recently weighed in on LB shares. Deutsche Bank AG reduced their price target on shares of L Brands from $62.00 to $61.00 and set a “buy” rating on the stock in a research report on Monday, May 15th. Vetr upgraded shares of L Brands from a “hold” rating to a “buy” rating and set a $53.02 price target on the stock in a research report on Thursday, May 11th. Oppenheimer Holdings, Inc. set a $62.00 price target on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, May 4th. Buckingham Research restated a “buy” rating on shares of L Brands in a research report on Wednesday, April 26th. Finally, FBR & Co set a $60.00 price target on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, May 18th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.29.
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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