Duality Advisers LP bought a new position in shares of L Brands, Inc. (NYSE:LB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 198,423 shares of the specialty retailer’s stock, valued at approximately $7,379,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Optimum Investment Advisors bought a new position in L Brands in the 4th quarter valued at $26,000. Flagship Private Wealth LLC bought a new position in L Brands in the 4th quarter valued at $28,000. International Assets Investment Management LLC bought a new position in L Brands in the 4th quarter valued at $30,000. Chiron Capital Management LLC bought a new position in L Brands in the 3rd quarter valued at $35,000. Finally, Daiwa Securities Group Inc. grew its stake in L Brands by 59.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,238 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 461 shares during the period. 76.09% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on LB. Citigroup upgraded L Brands from a “sell” rating to a “neutral” rating and upped their price objective for the company from $35.00 to $58.00 in a research note on Friday. Smith Barney Citigroup increased their price target on L Brands from $17.00 to $35.00 in a research note on Friday, November 20th. MKM Partners increased their price target on L Brands from $45.00 to $48.00 in a research note on Wednesday, January 6th. Barclays increased their price target on L Brands from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, February 8th. They noted that the move was a valuation call. Finally, Morgan Stanley upgraded L Brands from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $65.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $50.95.
Shares of NYSE:LB traded up $3.14 on Friday, hitting $55.50. The company’s stock had a trading volume of 177,676 shares, compared to its average volume of 4,897,631. The company has a 50-day simple moving average of $46.46 and a 200 day simple moving average of $36.98. L Brands, Inc. has a 1 year low of $8.00 and a 1 year high of $57.19. The company has a market capitalization of $15.44 billion, a PE ratio of -72.42, a PEG ratio of 1.14 and a beta of 1.66.
L Brands (NYSE:LB) last released its quarterly earnings results on Tuesday, February 23rd. The specialty retailer reported $3.03 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.12. L Brands had a negative return on equity of 37.40% and a negative net margin of 1.77%. During the same period in the previous year, the company posted $1.88 EPS. Sell-side analysts anticipate that L Brands, Inc. will post 3.12 earnings per share for the current year.
About L Brands
L Brands, Inc operates as a specialty retailer of women’s intimate and other apparel, personal care, and beauty and home fragrance products. The company operates in three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Its products include bras and panties, loungewear, athletic attire, shower gels and lotions, aromatherapy, soaps and sanitizers, and body care accessories.
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