Valiant Capital Management Lowers stake in L Brands Inc (LB)

L Brands Inc (LB) : Valiant Capital Management reduced its stake in L Brands Inc by 17.73% during the most recent quarter end. The investment management company now holds a total of 471,318 shares of L Brands Inc which is valued at $31.5 Million after selling 101,600 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 3.59% of Valiant Capital Management’s portfolio.

Other Hedge Funds, Including , Loomis Sayles Co L P boosted its stake in LB in the latest quarter, The investment management firm added 741 additional shares and now holds a total of 1,716 shares of L Brands Inc which is valued at $114,526.Segall Bryant Hamill boosted its stake in LB in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 2,900 shares of L Brands Inc which is valued at $193,546.Keybank National Associationoh boosted its stake in LB in the latest quarter, The investment management firm added 24 additional shares and now holds a total of 9,195 shares of L Brands Inc which is valued at $613,674.Nordea Investment Management Ab boosted its stake in LB in the latest quarter, The investment management firm added 62,819 additional shares and now holds a total of 443,261 shares of L Brands Inc which is valued at $34.7 Million. L Brands Inc makes up approx 0.10% of Nordea Investment Management Ab’s portfolio.Tocqueville Asset Management reduced its stake in LB by selling 454 shares or 10.15% in the most recent quarter. The Hedge Fund company now holds 4,017 shares of LB which is valued at $314,491.

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.

Investors should note that on May 20, 2016, L Brands Inc announced a cash dividend of $0.6000. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jun 17, 2016.

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.

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