Sei Investments Co. Boosts Stake in L Brands, Inc. (NYSE:LB)

Sei Investments Co. raised its position in L Brands, Inc. (NYSE:LB) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 245,182 shares of the specialty retailer’s stock after buying an additional 2,682 shares during the period. Sei Investments Co. owned approximately 0.09% of L Brands worth $13,213,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the company. FNY Partners Fund LP purchased a new position in shares of L Brands during the first quarter worth about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of L Brands during the first quarter worth about $142,000. IFP Advisors Inc boosted its position in shares of L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock worth $148,000 after buying an additional 529 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its position in shares of L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after buying an additional 375 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in shares of L Brands during the second quarter worth about $218,000. 75.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of L Brands, Inc. (NYSE LB) traded down 3.60% during midday trading on Friday, reaching $36.20. 7,047,985 shares of the company’s stock were exchanged. L Brands, Inc. has a one year low of $35.00 and a one year high of $79.67. The stock has a market cap of $10.38 billion, a P/E ratio of 10.63 and a beta of 0.62. The company’s 50-day moving average is $44.42 and its 200-day moving average is $49.87. L Brands also was the recipient of unusually large options trading on Wednesday. Stock investors bought 18,485 call options on the stock. This represents an increase of 663% compared to the typical volume of 2,424 call options.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts expect that L Brands, Inc. will post $3.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Wednesday, August 16th. L Brands’s payout ratio is 70.38%.

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A number of brokerages recently issued reports on LB. Cowen and Company reiterated a “buy” rating and issued a $56.00 price target on shares of L Brands in a research note on Tuesday, July 4th. FBR & Co set a $60.00 price target on shares of L Brands and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Jefferies Group LLC set a $35.00 target price on shares of L Brands and gave the company a “sell” rating in a research note on Tuesday, July 4th. Vetr cut shares of L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 target price on the stock. in a research note on Monday, June 12th. Finally, ValuEngine cut shares of L Brands from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Six research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company. L Brands has a consensus rating of “Hold” and an average price target of $51.29.

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.

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

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