L Brands Inc (LB) : Lansdowne Partners (uk) Llp reduced its stake in L Brands Inc by 22.18% during the most recent quarter end. The investment management company now holds a total of 8,596,059 shares of L Brands Inc which is valued at $573.7 Million after selling 2,449,328 shares in L Brands Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.L Brands Inc makes up approximately 4.61% of Lansdowne Partners (uk) Llp’s portfolio.
Other Hedge Funds, Including , Cavalier Investments sold out all of its stake in LB during the most recent quarter. The investment firm sold 7,800 shares of LB which is valued $520,572.Raymond James Associates boosted its stake in LB in the latest quarter, The investment management firm added 35,990 additional shares and now holds a total of 59,386 shares of L Brands Inc which is valued at $4 Million. L Brands Inc makes up approx 0.01% of Raymond James Associates’s portfolio.Comerica Bank boosted its stake in LB in the latest quarter, The investment management firm added 15 additional shares and now holds a total of 88,632 shares of L Brands Inc which is valued at $5.9 Million. L Brands Inc makes up approx 0.05% of Comerica Bank’s portfolio.
L Brands Inc opened for trading at $64.25 and hit $66.47 on the upside on Wednesday, eventually ending the session at $66.15, with a gain of 2.94% or 1.89 points. The heightened volatility saw the trading volume jump to 42,74,480 shares. Company has a market cap of $18,990 M.
On the company’s financial health, L Brands Inc reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.55. The company had revenue of $2613.80 million for the quarter, compared to analysts expectations of $2669.41 million. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.
Many Wall Street Analysts have commented on L Brands Inc. Shares were Reiterated by Wolfe Research on May 20, 2016 to “Peer Perform” and Lowered the Price Target to $ 62 from a previous price target of $70 .Shares were Reiterated by FBR Capital on May 20, 2016 to “Mkt Perform” and Lowered the Price Target to $ 63 from a previous price target of $93 .Shares were Reiterated by Telsey Advisory Group on May 20, 2016 to “Outperform” and Lowered the Price Target to $ 88 from a previous price target of $95 .
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.