Alyeska Investment Group adds L Brands Inc (LB) to its portfolio

L Brands Inc (LB) : Alyeska Investment Group added new position in L Brands Inc during the most recent quarter end. The investment management firm now holds 1,069,793 shares of L Brands Inc which is valued at $78,800,952 , the company said in a statement filed on Aug 15, 2016 with the SEC.L Brands Inc makes up approximately 0.78% of Alyeska Investment Group’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp boosted its stake in LB in the latest quarter, The investment management firm added 7,053,920 additional shares and now holds a total of 9,701,944 shares of L Brands Inc which is valued at $714,645,195. L Brands Inc makes up approx 0.18% of Wellington Management Group Llp’s portfolio.Mitsubishi Ufj Trust Banking Corp boosted its stake in LB in the latest quarter, The investment management firm added 9,582 additional shares and now holds a total of 508,293 shares of L Brands Inc which is valued at $37,440,862. L Brands Inc makes up approx 0.08% of Mitsubishi Ufj Trust Banking Corp’s portfolio.National Pension Service boosted its stake in LB in the latest quarter, The investment management firm added 30,913 additional shares and now holds a total of 175,968 shares of L Brands Inc which is valued at $12,961,803. L Brands Inc makes up approx 0.11% of National Pension Service’s portfolio. Proficio Capital Partners sold out all of its stake in LB during the most recent quarter. The investment firm sold 14 shares of LB which is valued $1,035.Checchi Capital Advisers reduced its stake in LB by selling 280 shares or 7.38% in the most recent quarter. The Hedge Fund company now holds 3,514 shares of LB which is valued at $251,813. L Brands Inc makes up approx 0.06% of Checchi Capital Advisers’s portfolio.

L Brands Inc closed down -1.4 points or -1.84% at $74.81 with 23,17,613 shares getting traded on Thursday. Post opening the session at $76.91, the shares hit an intraday low of $74.149 and an intraday high of $77.545 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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