L Brands Inc (LB) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC cut its stake in L Brands Inc (NYSE:LB) by 19.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,607 shares of the specialty retailer’s stock after selling 2,026 shares during the period. Palisade Asset Management LLC’s holdings in L Brands were worth $261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LB. Dimensional Fund Advisors LP grew its holdings in shares of L Brands by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 551,282 shares of the specialty retailer’s stock worth $21,064,000 after purchasing an additional 32,012 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of L Brands in the first quarter worth about $504,000. Commonwealth Equity Services LLC grew its holdings in L Brands by 19.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 15,767 shares of the specialty retailer’s stock worth $602,000 after acquiring an additional 2,563 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in L Brands by 205.4% during the 1st quarter. Allianz Asset Management GmbH now owns 43,626 shares of the specialty retailer’s stock worth $1,668,000 after acquiring an additional 29,343 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in L Brands by 20.2% during the 1st quarter. LPL Financial LLC now owns 27,385 shares of the specialty retailer’s stock worth $1,046,000 after acquiring an additional 4,607 shares in the last quarter. Hedge funds and other institutional investors own 73.53% of the company’s stock.

Several brokerages have issued reports on LB. Barclays set a $31.00 target price on shares of L Brands and gave the stock a “hold” rating in a report on Thursday. Nomura increased their target price on shares of L Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, October 12th. MKM Partners set a $31.00 target price on shares of L Brands and gave the stock a “hold” rating in a report on Friday, October 12th. ValuEngine cut shares of L Brands from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd. Finally, Piper Jaffray Companies set a $28.00 target price on shares of L Brands and gave the stock a “hold” rating in a report on Thursday, September 20th. Five equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $37.79.

Shares of NYSE:LB traded down $1.16 during trading on Friday, reaching $29.64. The stock had a trading volume of 477,247 shares, compared to its average volume of 4,935,729. L Brands Inc has a one year low of $25.89 and a one year high of $63.10. The stock has a market capitalization of $8.60 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.08 and a beta of 0.51. The company has a debt-to-equity ratio of -5.09, a quick ratio of 0.75 and a current ratio of 1.46.

L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. L Brands had a net margin of 6.87% and a negative return on equity of 84.14%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the business earned $0.48 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, research analysts forecast that L Brands Inc will post 2.51 EPS for the current year.

L Brands Company 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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Institutional Ownership by Quarter for L Brands (NYSE:LB)

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