American Century Companies Inc. Sells 605,619 Shares of L Brands Inc (LB)
American Century Companies Inc. cut its holdings in shares of L Brands Inc (NYSE:LB) by 48.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 634,820 shares of the specialty retailer’s stock after selling 605,619 shares during the period. American Century Companies Inc.’s holdings in L Brands were worth $38,229,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in L Brands in the third quarter valued at approximately $161,000. IFP Advisors Inc boosted its stake in L Brands by 52.1% in the third quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after acquiring an additional 1,618 shares in the last quarter. Chesapeake Asset Management LLC acquired a new stake in L Brands in the third quarter valued at approximately $205,000. Allianz Asset Management GmbH acquired a new stake in L Brands in the third quarter valued at approximately $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in L Brands in the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 78.48% of the company’s stock.
Several equities research analysts have weighed in on LB shares. B. Riley set a $58.00 target price on shares of L Brands and gave the company a “buy” rating in a research note on Thursday, November 16th. FBR & Co set a $58.00 target price on shares of L Brands and gave the company a “buy” rating in a research note on Monday, October 30th. Northcoast Research upgraded shares of L Brands from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 7th. Barclays raised their target price on shares of L Brands from $44.00 to $49.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, Piper Jaffray Companies set a $47.00 target price on shares of L Brands and gave the company a “hold” rating in a research note on Thursday, November 16th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and thirteen have assigned a buy rating to the company. L Brands presently has a consensus rating of “Hold” and a consensus price target of $52.30.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. analysts forecast that L Brands Inc will post 3.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.40 annualized dividend and a dividend yield of 4.93%. L Brands’s dividend payout ratio (DPR) is presently 73.17%.
In other L Brands news, Director David T. Kollat bought 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $50.34 per share, with a total value of $498,869.40. Following the completion of the acquisition, the director now directly owns 158,878 shares in the company, valued at approximately $7,997,918.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.68% of the company’s stock.
L Brands Company 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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