Swiss National Bank Grows Position in L Brands Inc (NYSE:LB)

Swiss National Bank increased its stake in L Brands Inc (NYSE:LB) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 780,389 shares of the specialty retailer’s stock after buying an additional 14,400 shares during the quarter. Swiss National Bank owned about 0.28% of L Brands worth $21,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of L Brands by 2.6% during the fourth quarter. BlackRock Inc. now owns 21,445,945 shares of the specialty retailer’s stock worth $550,516,000 after purchasing an additional 535,348 shares during the last quarter. American International Group Inc. lifted its position in shares of L Brands by 25.4% during the fourth quarter. American International Group Inc. now owns 12,224,858 shares of the specialty retailer’s stock worth $313,812,000 after purchasing an additional 2,472,416 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of L Brands by 47.0% during the fourth quarter. Bank of New York Mellon Corp now owns 7,464,698 shares of the specialty retailer’s stock worth $191,619,000 after purchasing an additional 2,385,201 shares during the last quarter. SRS Investment Management LLC lifted its position in shares of L Brands by 24.8% during the fourth quarter. SRS Investment Management LLC now owns 3,137,935 shares of the specialty retailer’s stock worth $80,551,000 after purchasing an additional 623,521 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of L Brands by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,977,260 shares of the specialty retailer’s stock worth $76,373,000 after purchasing an additional 95,224 shares during the last quarter. Institutional investors own 69.08% of the company’s stock.

NYSE LB traded up $0.51 during trading on Monday, hitting $26.61. The company’s stock had a trading volume of 5,538,210 shares, compared to its average volume of 4,736,842. The company has a market capitalization of $7.18 billion, a P/E ratio of 9.44, a PEG ratio of 0.99 and a beta of 0.68. The firm’s 50 day moving average is $23.46. L Brands Inc has a fifty-two week low of $21.44 and a fifty-two week high of $38.00.

L Brands (NYSE:LB) last released its earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. Equities research analysts predict that L Brands Inc will post 2.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date was Thursday, May 30th. L Brands’s dividend payout ratio (DPR) is 42.55%.

Several equities analysts have recently commented on LB shares. Wells Fargo & Co set a $35.00 price target on L Brands and gave the company an “outperform” rating in a research note on Thursday, May 23rd. UBS Group raised their price target on L Brands from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Odeon Capital Group started coverage on L Brands in a research note on Friday, April 26th. They set a “buy” rating on the stock. Zacks Investment Research lowered L Brands from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Finally, Bank of America set a $30.00 target price on L Brands and gave the company a “hold” rating in a research note on Thursday, May 23rd. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.96.

About L Brands

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.

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

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