Intact Investment Management Inc. Has $2.18 Million Stake in L Brands Inc (LB)

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Intact Investment Management Inc. raised its stake in shares of L Brands Inc (NYSE:LB) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,800 shares of the specialty retailer’s stock after buying an additional 8,600 shares during the quarter. Intact Investment Management Inc.’s holdings in L Brands were worth $2,176,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new position in shares of L Brands during the 2nd quarter worth about $104,000. Gradient Investments LLC bought a new position in shares of L Brands during the 2nd quarter valued at about $109,000. Private Capital Group LLC lifted its holdings in shares of L Brands by 6,777.3% during the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock valued at $111,000 after purchasing an additional 2,982 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in shares of L Brands during the 2nd quarter valued at about $216,000. Finally, Norway Savings Bank bought a new position in shares of L Brands during the 2nd quarter valued at about $221,000. Institutional investors own 73.57% of the company’s stock.

Several equities analysts have recently weighed in on LB shares. Morgan Stanley reiterated an “equal weight” rating and set a $32.00 price objective (down previously from $56.00) on shares of L Brands in a report on Friday, August 24th. Zacks Investment Research cut L Brands from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Barclays set a $31.00 price objective on L Brands and gave the company a “hold” rating in a report on Thursday, October 18th. B. Riley cut their price objective on L Brands from $49.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, August 23rd. Finally, Telsey Advisory Group cut their price objective on L Brands from $36.00 to $31.00 and set a “market perform” rating on the stock in a report on Friday, August 24th. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have assigned a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and a consensus target price of $37.73.

Shares of L Brands stock opened at $31.33 on Tuesday. L Brands Inc has a 12-month low of $25.89 and a 12-month high of $63.10. The company has a market cap of $8.37 billion, a PE ratio of 9.79, a P/E/G ratio of 1.06 and a beta of 0.51.

L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. L Brands had a negative return on equity of 84.14% and a net margin of 6.87%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the business posted $0.48 EPS. The business’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 earnings per share for the current year.

About L Brands

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: What Does Beta Mean In Stock Selection

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

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