Seven Bridges Advisors Lowers stake in L Brands Inc (LB)

L Brands Inc (LB) : Seven Bridges Advisors reduced its stake in L Brands Inc by 21.85% during the most recent quarter end. The investment management company now holds a total of 32,953 shares of L Brands Inc which is valued at $2,293,199 after selling 9,211 shares in L Brands Inc , the firm said in a disclosure report filed with the SEC on May 2, 2016.L Brands Inc makes up approximately 1.84% of Seven Bridges Advisors’s portfolio.

L Brands Inc closed down -0.94 points or -1.33% at $69.59 with 61,68,425 shares getting traded on Friday. Post opening the session at $70.63, the shares hit an intraday low of $69 and an intraday high of $70.63 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Tokio Marine Asset Management Co Ltd reduced its stake in LB by selling 239 shares or 3.16% in the most recent quarter. The Hedge Fund company now holds 7,322 shares of LB which is valued at $509,538. L Brands Inc makes up approx 0.05% of Tokio Marine Asset Management Co Ltd’s portfolio. Buckingham Capital Management Inc added LB to its portfolio by purchasing 55,000 company shares during the most recent quarter which is valued at $4,221,800. L Brands Inc makes up approx 0.24% of Buckingham Capital Management Inc’s portfolio. Cwm added LB to its portfolio by purchasing 34 company shares during the most recent quarter which is valued at $2,610. Palo Capital added LB to its portfolio by purchasing 3,537 company shares during the most recent quarter which is valued at $271,500. L Brands Inc makes up approx 0.21% of Palo Capital’s portfolio.

On the company’s financial health, L Brands Inc reported $2.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 24, 2016. Analyst had a consensus of $2.05. The company had revenue of $4395.00 million for the quarter, compared to analysts expectations of $4374.97 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS.

Many Wall Street Analysts have commented on L Brands Inc. Shares were Reiterated by MKM Partners on May 6, 2016 to “Buy” and Lowered the Price Target to $ 83 from a previous price target of $105 .Shares were Reiterated by Telsey Advisory Group on May 6, 2016 to “Outperform” and Lowered the Price Target to $ 95 from a previous price target of $115 .L Brands Inc was Downgraded by Piper Jaffray to ” Underweight” on May 5, 2016.

L Brands Inc. operates specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel beauty and personal care products and accessories. It operates in three segments: Victoria’s Secret which includes Victoria’s Secret PINK which is the specialty retailer of women’s intimate and other apparel with fashion-inspired collections prestige fragrances celebrated supermodels and world-famous runway shows; Bath & Body Works which is the specialty retailer of home fragrance and personal care products including shower gels lotions soaps and sanitizers and Victoria’s Secret and Bath & Body Works International which includes the Victoria’s Secret and Bath & Body Works company-owned and partner-operated stores outside of the United States and Canada. It sells its merchandise through company-owned specialty retail stores in the United States Canada and the United Kingdom which are primarily mall-based and through its Websites and other channels.

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