L Brands Inc (LB) Stake Lessened by Arizona State Retirement System
Arizona State Retirement System decreased its holdings in L Brands Inc (NYSE:LB) by 6.5% in the 1st quarter, HoldingsChannel reports. The firm owned 43,848 shares of the specialty retailer’s stock after selling 3,071 shares during the quarter. Arizona State Retirement System’s holdings in L Brands were worth $1,209,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in L Brands during the fourth quarter valued at about $37,000. JNBA Financial Advisors bought a new position in L Brands during the fourth quarter valued at about $56,000. Synovus Financial Corp boosted its stake in L Brands by 167.8% during the fourth quarter. Synovus Financial Corp now owns 2,394 shares of the specialty retailer’s stock valued at $62,000 after buying an additional 1,500 shares in the last quarter. Kessler Investment Group LLC bought a new position in L Brands during the first quarter valued at about $67,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in L Brands by 1,594.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 2,823 shares in the last quarter. 71.24% of the stock is owned by institutional investors.
NYSE:LB opened at $22.46 on Thursday. L Brands Inc has a 1-year low of $21.82 and a 1-year high of $38.14. The firm has a market capitalization of $6.13 billion, a P/E ratio of 7.96, a P/E/G ratio of 0.86 and a beta of 0.51.
Several research analysts recently weighed in on the company. Wells Fargo & Co set a $42.00 target price on L Brands and gave the company a “buy” rating in a research note on Thursday, February 28th. Zacks Investment Research raised L Brands from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, January 18th. B. Riley decreased their target price on L Brands from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, February 21st. DA Davidson decreased their target price on L Brands to $26.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Finally, Odeon Capital Group assumed coverage on L Brands in a research note on Friday, April 26th. They set a “buy” rating for the company. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.35.
L Brands 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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