Gyroscope Capital Management Group LLC increased its holdings in shares of L Brands Inc (NYSE:LB) by 28.4% during the third quarter, Holdings Channel.com reports. The firm owned 382,031 shares of the specialty retailer’s stock after buying an additional 84,521 shares during the period. L Brands makes up 2.8% of Gyroscope Capital Management Group LLC’s holdings, making the stock its 15th biggest holding. Gyroscope Capital Management Group LLC’s holdings in L Brands were worth $7,090,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Mercantile Trust Co. acquired a new stake in L Brands in the second quarter valued at approximately $32,000. Phocas Financial Corp. acquired a new stake in L Brands in the second quarter valued at approximately $41,000. Northwestern Mutual Wealth Management Co. boosted its stake in L Brands by 65.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock valued at $130,000 after acquiring an additional 1,857 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in L Brands in the second quarter valued at approximately $130,000. Finally, City Holding Co. boosted its stake in L Brands by 360.6% in the second quarter. City Holding Co. now owns 6,131 shares of the specialty retailer’s stock valued at $160,000 after acquiring an additional 4,800 shares in the last quarter. Hedge funds and other institutional investors own 69.76% of the company’s stock.
Shares of NYSE LB traded up $0.88 during midday trading on Friday, reaching $17.72. The company had a trading volume of 318,140 shares, compared to its average volume of 5,187,519. The business’s 50-day simple moving average is $18.01 and its 200 day simple moving average is $23.11. The stock has a market cap of $4.89 billion, a P/E ratio of 6.28, a P/E/G ratio of 0.64 and a beta of 0.81. L Brands Inc has a 1 year low of $15.82 and a 1 year high of $38.00.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the company posted $0.36 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that L Brands Inc will post 2.4 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 30th. L Brands’s dividend payout ratio (DPR) is presently 42.55%.
Several equities research analysts have weighed in on LB shares. Goldman Sachs Group set a $26.00 target price on shares of L Brands and gave the company a “buy” rating in a research note on Friday, August 23rd. B. Riley set a $30.00 target price on shares of L Brands and gave the company a “buy” rating in a research note on Friday, August 23rd. Loop Capital lowered their target price on shares of L Brands from $20.00 to $15.00 and set a “sell” rating for the company in a research note on Thursday, August 22nd. Jefferies Financial Group set a $14.00 target price on shares of L Brands and gave the company a “sell” rating in a research note on Monday, September 23rd. Finally, Zacks Investment Research cut shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $26.33.
L Brands 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.
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