The Wealth Enhancement Advisory Services LLC decides to keep it stake in L Brands Inc. (LB) to the level of $931,000

The Wealth Enhancement Advisory Services LLC decides to keep it stake in L Brands Inc. (LB) to the level of $931,000

Wealth Enhancement Advisory Services LLC boosted its position in L Brands Inc. (NYSE:LB) by 28.7% during the second quarter, Holdings Channel reports. The institutional investor owned 13,863 shares of the company’s stock after buying an additional 3,088 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in L Brands were worth $931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alecta Pensionsforsakring Omsesidigt increased its position in shares of L Brands by 8.2% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,803,000 shares of the company’s stock worth $725,421,000 after buying an additional 815,000 shares in the last quarter. CAM Group Holding A S increased its stake in shares of L Brands by 2.5% in the second quarter. CAM Group Holding A S now owns 3,669,206 shares of the company’s stock valued at $246,314,000 after buying an additional 89,166 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock valued at $232,522,000 after buying an additional 1,358,509 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of L Brands by 2.0% in the first quarter. Geode Capital Management LLC now owns 2,026,626 shares of the company’s stock valued at $177,593,000 after buying an additional 39,922 shares in the last quarter. Finally, Flossbach Von Storch AG increased its stake in shares of L Brands by 428.2% in the second quarter. Flossbach Von Storch AG now owns 1,686,624 shares of the company’s stock valued at $113,223,000 after buying an additional 1,367,300 shares in the last quarter. Institutional investors own 75.58% of the company’s stock.

Shares of L Brands Inc. (NYSE:LB) traded down 1.24% during mid-day trading on Monday, reaching $72.32. 581,032 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $72.75 and a 200-day moving average price of $72.90. The company has a market capitalization of $20.68 billion, a P/E ratio of 17.63 and a beta of 0.91. L Brands Inc. has a 1-year low of $60.00 and a 1-year high of $101.11.

L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The business earned $2.89 billion during the quarter. During the same quarter last year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that L Brands Inc. will post $3.83 earnings per share for the current fiscal year.

LB has been the subject of several recent analyst reports. Argus restated a “hold” rating on shares of L Brands in a research report on Friday, August 26th. Mizuho restated a “buy” rating and set a $85.00 price objective on shares of L Brands in a research report on Monday, September 26th. Telsey Advisory Group boosted their price objective on shares of L Brands from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Vetr upgraded shares of L Brands from a “sell” rating to a “hold” rating and set a $79.12 price objective for the company in a research report on Monday, August 22nd. Finally, Jefferies Group restated a “hold” rating on shares of L Brands in a research report on Monday, September 12th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $78.32.

In other L Brands news, insider Martin P. Waters sold 45,500 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the sale, the insider now directly owns 13,970 shares in the company, valued at approximately $1,082,535.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is owned by corporate insiders.

L Brands Company Profile

L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.

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