Exxonmobil Investment Management Inc. TX lowered its position in L Brands Inc. (NYSE:LB) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,336 shares of the company’s stock after selling 4,154 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in L Brands were worth $4,341,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Financial Architects Inc increased its position in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of L Brands during the second quarter valued at about $123,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock valued at $125,000 after buying an additional 572 shares during the period. Global X Management Co. LLC boosted its position in shares of L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock valued at $138,000 after buying an additional 1,016 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in shares of L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock valued at $145,000 after buying an additional 124 shares during the period. 76.29% of the stock is owned by institutional investors.
L Brands Inc. (NYSE:LB) traded down 0.37% during trading on Friday, hitting $71.81. 1,497,120 shares of the stock traded hands. The company has a market cap of $20.54 billion, a P/E ratio of 18.07 and a beta of 0.88. L Brands Inc. has a 52-week low of $60.00 and a 52-week high of $99.83. The firm has a 50-day moving average price of $70.26 and a 200 day moving average price of $70.68.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, November 16th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. L Brands had a net margin of 9.31% and a negative return on equity of 137.81%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the firm posted $0.55 EPS. L Brands’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that L Brands Inc. will post $3.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, November 16th. L Brands’s dividend payout ratio (DPR) is 60.61%.
LB has been the subject of several recent research 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 issued a $85.00 price target on shares of L Brands in a research report on Sunday, October 9th. Telsey Advisory Group upped their price target on shares of L Brands from $88.00 to $90.00 and gave the company 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 target 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. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $74.62.
In related news, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.45% of the company’s stock.
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.