Bank Pictet Cie (asia) Ltd Lowers stake in L Brands Inc (LB)

L Brands Inc (LB) : Bank Pictet Cie (asia) Ltd reduced its stake in L Brands Inc by 41.98% during the most recent quarter end. The investment management company now holds a total of 4,740 shares of L Brands Inc which is valued at $349,148 after selling 3,430 shares in L Brands Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.L Brands Inc makes up approximately 0.21% of Bank Pictet Cie (asia) Ltd’s portfolio.

Other Hedge Funds, Including , Blackrock Japan Ltd boosted its stake in LB in the latest quarter, The investment management firm added 2,028 additional shares and now holds a total of 315,993 shares of L Brands Inc which is valued at $23,276,044. L Brands Inc makes up approx 0.08% of Blackrock Japan Ltd’s portfolio. Acrospire Investment Management sold out all of its stake in LB during the most recent quarter. The investment firm sold 600 shares of LB which is valued $44,376.Los Angeles Capital Management Equity Research Inc reduced its stake in LB by selling 144,105 shares or 39.52% in the most recent quarter. The Hedge Fund company now holds 220,491 shares of LB which is valued at $16,272,236. L Brands Inc makes up approx 0.13% of Los Angeles Capital Management Equity Research Inc’s portfolio. Capital Fund Management S.a. added LB to its portfolio by purchasing 28,576 company shares during the most recent quarter which is valued at $2,102,051. L Brands Inc makes up approx 0.04% of Capital Fund Management S.a.’s portfolio.

L Brands Inc closed down -0.11 points or -0.14% at $77.76 with 34,02,171 shares getting traded on Friday. Post opening the session at $78.07, the shares hit an intraday low of $76.865 and an intraday high of $78.75 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, L Brands Inc reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.60. The company had revenue of $2889.70 million for the quarter, compared to analysts expectations of $2842.08 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on L Brands Inc. L Brands Inc was Upgraded by Goldman to ” Buy” on Aug 22, 2016. Company shares were Reiterated by FBR Capital on Aug 19, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 75 from a previous price target of $68 .Company shares were Reiterated by Telsey Advisory Group on Aug 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 90 from a previous price target of $88 .

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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