Wellington Management Group LLP Boosts Stake in L Brands Inc (NYSE:LB)

Wellington Management Group LLP increased its holdings in L Brands Inc (NYSE:LB) by 53.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,309 shares of the specialty retailer’s stock after purchasing an additional 10,904 shares during the quarter. Wellington Management Group LLP’s holdings in L Brands were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. State Street Corp raised its position in L Brands by 0.4% in the 1st quarter. State Street Corp now owns 10,501,314 shares of the specialty retailer’s stock worth $121,395,000 after purchasing an additional 44,428 shares during the period. Prudential PLC purchased a new position in L Brands in the 1st quarter worth $48,964,000. Geode Capital Management LLC raised its position in L Brands by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 3,963,915 shares of the specialty retailer’s stock worth $72,070,000 after purchasing an additional 175,659 shares during the period. Norges Bank purchased a new position in shares of L Brands in the fourth quarter valued at about $46,414,000. Finally, Point72 Asset Management L.P. increased its position in shares of L Brands by 1,874.2% in the fourth quarter. Point72 Asset Management L.P. now owns 1,787,251 shares of the specialty retailer’s stock valued at $32,385,000 after acquiring an additional 1,696,719 shares during the period. Institutional investors own 77.38% of the company’s stock.

Shares of LB stock opened at $14.97 on Wednesday. L Brands Inc has a 12 month low of $8.00 and a 12 month high of $28.01. The stock has a market cap of $4.10 billion, a P/E ratio of -5.89 and a beta of 1.21. The company has a 50 day simple moving average of $15.03 and a two-hundred day simple moving average of $16.97.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, May 20th. The specialty retailer reported ($0.99) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.28). L Brands had a negative net margin of 5.89% and a negative return on equity of 23.32%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company posted $0.14 earnings per share. The firm’s quarterly revenue was down 37.1% on a year-over-year basis. On average, sell-side analysts predict that L Brands Inc will post -0.06 earnings per share for the current year.

A number of equities analysts have issued reports on the stock. Deutsche Bank decreased their price objective on shares of L Brands from $24.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. B. Riley decreased their price objective on shares of L Brands from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Jefferies Financial Group reaffirmed a “sell” rating and set a $8.00 target price on shares of L Brands in a research note on Monday, March 30th. Morgan Stanley dropped their price objective on shares of L Brands from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Finally, KeyCorp boosted their price objective on shares of L Brands from $21.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.11.

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.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

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

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