Keating Investment Counselors Inc. Reduces Position in L Brands Inc (LB)

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Keating Investment Counselors Inc. reduced its position in shares of L Brands Inc (NYSE:LB) by 2.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 111,635 shares of the specialty retailer’s stock after selling 3,350 shares during the period. Keating Investment Counselors Inc.’s holdings in L Brands were worth $3,383,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LB. Makaira Partners LLC raised its stake in L Brands by 33.3% during the 2nd quarter. Makaira Partners LLC now owns 3,364,372 shares of the specialty retailer’s stock worth $124,078,000 after buying an additional 840,790 shares during the period. State of New Jersey Common Pension Fund D raised its stake in L Brands by 1,000.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 440,000 shares of the specialty retailer’s stock worth $16,227,000 after buying an additional 400,000 shares during the period. Aviance Capital Management LLC acquired a new position in L Brands during the 2nd quarter worth approximately $14,019,000. Alps Advisors Inc. raised its stake in L Brands by 28.4% during the 3rd quarter. Alps Advisors Inc. now owns 1,634,619 shares of the specialty retailer’s stock worth $49,529,000 after buying an additional 361,913 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in L Brands by 27.4% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,615,015 shares of the specialty retailer’s stock worth $48,935,000 after buying an additional 347,017 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on LB. Royal Bank of Canada set a $35.00 price objective on L Brands and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Guggenheim reissued a “hold” rating on shares of L Brands in a research note on Thursday, July 12th. Loop Capital set a $27.00 price objective on L Brands and gave the stock a “sell” rating in a research note on Thursday, July 12th. B. Riley lowered their price objective on L Brands from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, August 23rd. Finally, Wells Fargo & Co set a $30.00 price objective on L Brands and gave the stock a “hold” rating in a research note on Thursday, August 23rd. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.06.

LB stock opened at $32.35 on Wednesday. The company has a market capitalization of $8.37 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.09 and a beta of 0.51. L Brands Inc has a 12-month low of $25.89 and a 12-month high of $63.10.

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

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.

Further Reading: Consumer behavior in bull markets

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

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