Sterneck Capital Management LLC trimmed its holdings in L Brands Inc (NYSE:LB) by 67.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,549 shares of the specialty retailer’s stock after selling 21,458 shares during the period. Sterneck Capital Management LLC’s holdings in L Brands were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in L Brands by 82.2% in the third quarter. The Manufacturers Life Insurance Company now owns 5,817,977 shares of the specialty retailer’s stock valued at $176,285,000 after buying an additional 2,624,182 shares during the period. Bank of New York Mellon Corp increased its stake in shares of L Brands by 83.4% during the third quarter. Bank of New York Mellon Corp now owns 5,079,497 shares of the specialty retailer’s stock worth $153,908,000 after purchasing an additional 2,310,431 shares during the period. Tyvor Capital LLC bought a new position in shares of L Brands during the third quarter worth approximately $29,779,000. Makaira Partners LLC increased its stake in shares of L Brands by 11.9% during the third quarter. Makaira Partners LLC now owns 3,764,372 shares of the specialty retailer’s stock worth $114,060,000 after purchasing an additional 400,000 shares during the period. Finally, Radin Capital Partners Inc. bought a new position in shares of L Brands during the third quarter worth approximately $11,090,000. 70.34% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Raymond Zimmerman sold 6,385 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $28.33, for a total value of $180,887.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 17.32% of the stock is owned by insiders.
LB stock opened at $27.43 on Thursday. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 0.89 and a beta of 0.62. L Brands Inc has a 52-week low of $23.71 and a 52-week high of $50.53.
L Brands (NYSE:LB) last announced its earnings results on Monday, November 19th. The specialty retailer reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. L Brands had a negative return on equity of 76.28% and a net margin of 5.81%. The firm had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that L Brands Inc will post 2.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.37%. L Brands’s payout ratio is presently 75.00%.
A number of brokerages have recently weighed in on LB. Zacks Investment Research upgraded L Brands from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Tuesday, February 5th. Barclays set a $31.00 price objective on L Brands and gave the stock a “hold” rating in a research note on Friday, January 11th. B. Riley set a $44.00 price objective on L Brands and gave the stock a “buy” rating in a research note on Friday, January 11th. Credit Suisse Group reduced their target price on L Brands from $36.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, January 11th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $31.00 target price (down previously from $33.00) on shares of L Brands in a report on Friday, January 11th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $36.33.
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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.
See Also: Cash Flow
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