Envestnet Asset Management Inc. Raises Stock Holdings in L Brands Inc (NYSE:LB)

Envestnet Asset Management Inc. increased its position in L Brands Inc (NYSE:LB) by 12.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,564 shares of the specialty retailer’s stock after buying an additional 5,789 shares during the quarter. Envestnet Asset Management Inc.’s holdings in L Brands were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC boosted its holdings in L Brands by 1.1% in the second quarter. Empirical Finance LLC now owns 39,800 shares of the specialty retailer’s stock valued at $1,039,000 after acquiring an additional 423 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in L Brands by 0.6% in the second quarter. Retirement Systems of Alabama now owns 106,965 shares of the specialty retailer’s stock valued at $2,792,000 after acquiring an additional 636 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in L Brands by 6.3% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 20,274 shares of the specialty retailer’s stock valued at $529,000 after acquiring an additional 1,200 shares in the last quarter. Kwmg LLC boosted its holdings in L Brands by 7.9% in the second quarter. Kwmg LLC now owns 84,769 shares of the specialty retailer’s stock valued at $2,212,000 after acquiring an additional 6,195 shares in the last quarter. Finally, Gyroscope Capital Management Group LLC boosted its holdings in L Brands by 17.0% in the second quarter. Gyroscope Capital Management Group LLC now owns 297,510 shares of the specialty retailer’s stock valued at $8,268,000 after acquiring an additional 43,173 shares in the last quarter. 69.86% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on the stock. DA Davidson set a $20.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Friday, August 23rd. Jefferies Financial Group set a $14.00 target price on shares of L Brands and gave the company a “sell” rating in a report on Monday, September 23rd. Telsey Advisory Group dropped their target price on shares of L Brands from $24.00 to $22.00 and set a “market perform” rating on the stock in a report on Friday, August 23rd. Morgan Stanley dropped their target price on shares of L Brands from $34.00 to $18.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Finally, Goldman Sachs Group set a $26.00 target price on shares of L Brands and gave the company a “buy” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $25.95.

Shares of L Brands stock opened at $17.75 on Friday. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 6.29, a PEG ratio of 0.64 and a beta of 0.77. The firm’s 50-day moving average is $17.92 and its 200 day moving average is $21.75. L Brands Inc has a 1 year low of $15.82 and a 1 year high of $38.00.

L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. L Brands’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Research analysts anticipate that L Brands Inc will post 2.4 earnings per share for the current fiscal year.

The company also recently declared a dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a $0.32 dividend. The ex-dividend date was Monday, September 30th. L Brands’s payout ratio is 42.55%.

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.

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

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