Candriam Luxembourg S.C.A. Has $1.46 Million Position in L Brands Inc (LB)
Candriam Luxembourg S.C.A. boosted its holdings in L Brands Inc (NYSE:LB) by 36.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,238 shares of the specialty retailer’s stock after purchasing an additional 6,436 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in L Brands were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in L Brands by 1,045.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,091,745 shares of the specialty retailer’s stock worth $65,745,000 after acquiring an additional 996,468 shares during the last quarter. American Century Companies Inc. increased its stake in L Brands by 328.4% during the third quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock worth $51,615,000 after acquiring an additional 950,859 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in L Brands by 29.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock worth $172,952,000 after acquiring an additional 935,259 shares during the last quarter. Flossbach Von Storch AG increased its stake in L Brands by 81.2% during the third quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock worth $85,468,000 after acquiring an additional 920,710 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new stake in L Brands during the fourth quarter worth about $50,451,000. Hedge funds and other institutional investors own 80.36% of the company’s stock.
Several equities research analysts have commented on LB shares. Morgan Stanley restated an “overweight” rating and set a $70.00 price target on shares of L Brands in a research note on Thursday, December 14th. B. Riley reaffirmed a “buy” rating and issued a $58.00 target price on shares of L Brands in a research report on Wednesday, November 29th. CIBC reaffirmed a “hold” rating and issued a $60.00 target price on shares of L Brands in a research report on Friday, December 8th. Citigroup upped their target price on L Brands from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Royal Bank of Canada raised L Brands from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $40.00 to $58.00 in a research report on Friday, November 17th. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $52.30.
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 paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.01%. The ex-dividend date is Thursday, February 22nd. L Brands’s payout ratio is currently 73.17%.
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About L Brands
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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