Heritage Investors Management Corp Has $6.90 Million Holdings in L Brands Inc (LB)
Heritage Investors Management Corp decreased its position in shares of L Brands Inc (NYSE:LB) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,604 shares of the specialty retailer’s stock after selling 25,648 shares during the quarter. Heritage Investors Management Corp’s holdings in L Brands were worth $6,901,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in LB. Victory Capital Management Inc. increased its stake in shares of L Brands by 1,045.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,091,745 shares of the specialty retailer’s stock valued at $65,745,000 after acquiring an additional 996,468 shares in the last quarter. American Century Companies Inc. increased its stake in shares of L Brands by 328.4% in the 3rd quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock valued at $51,615,000 after acquiring an additional 950,859 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of L Brands by 29.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after acquiring an additional 935,259 shares in the last quarter. Flossbach Von Storch AG increased its stake in shares of L Brands by 81.2% in the 3rd quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock valued at $85,468,000 after acquiring an additional 920,710 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of L Brands in the 4th quarter valued at $50,451,000. Hedge funds and other institutional investors own 78.48% of the company’s stock.
L Brands Inc (LB) opened at $48.65 on Monday. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45. The stock has a market cap of $13,732.20, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.25 and a beta of 0.61. L Brands Inc has a fifty-two week low of $35.00 and a fifty-two week high of $63.10.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, February 22nd. L Brands’s dividend payout ratio is 72.95%.
Several analysts have recently weighed in on the stock. Robert W. Baird reiterated a “hold” rating and issued a $60.00 price objective on shares of L Brands in a research note on Friday, December 22nd. BMO Capital Markets set a $56.00 price objective on shares of L Brands and gave the company a “hold” rating in a research note on Tuesday, December 19th. Telsey Advisory Group lifted their price objective on shares of L Brands from $64.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, January 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price objective on shares of L Brands in a research note on Thursday, December 14th. Finally, CIBC reiterated a “hold” rating and issued a $60.00 price objective on shares of L Brands in a research note on Friday, December 8th. Six equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.30.
In other news, Director David T. Kollat acquired 9,910 shares of the business’s stock in a transaction on Monday, November 20th. The shares were purchased at an average cost of $50.34 per share, with a total value of $498,869.40. Following the acquisition, the director now directly owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. 16.68% of the stock is owned by insiders.
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L Brands Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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