Beese Fulmer Investment Management buys $5,258,788 stake in L Brands Inc (LB)

L Brands Inc (LB) : Beese Fulmer Investment Management scooped up 2,210 additional shares in L Brands Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 72,515 shares of L Brands Inc which is valued at $5,258,788.L Brands Inc makes up approximately 1.46% of Beese Fulmer Investment Management’s portfolio.

Other Hedge Funds, Including , Integrated Wealth Management reduced its stake in LB by selling 1,419 shares or 22.28% in the most recent quarter. The Hedge Fund company now holds 4,950 shares of LB which is valued at $358,974. L Brands Inc makes up approx 0.14% of Integrated Wealth Management’s portfolio.Old Mutual Global Investors (uk) Ltd. reduced its stake in LB by selling 4,424 shares or 72.08% in the most recent quarter. The Hedge Fund company now holds 1,714 shares of LB which is valued at $122,825.Nikko Asset Management Americas boosted its stake in LB in the latest quarter, The investment management firm added 1,400 additional shares and now holds a total of 4,200 shares of L Brands Inc which is valued at $296,898. L Brands Inc makes up approx 0.03% of Nikko Asset Management Americas’s portfolio.Palisade Asset Management boosted its stake in LB in the latest quarter, The investment management firm added 1,900 additional shares and now holds a total of 11,760 shares of L Brands Inc which is valued at $824,611. L Brands Inc makes up approx 0.15% of Palisade Asset Management’s portfolio. Cutler Group Lp sold out all of its stake in LB during the most recent quarter. The investment firm sold 45 shares of LB which is valued $3,155.

L Brands Inc opened for trading at $73.43 and hit $74.169 on the upside on Thursday, eventually ending the session at $72.81, with a gain of 0.40% or 0.29 points. The heightened volatility saw the trading volume jump to 24,32,508 shares. Company has a market cap of $20,933 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. L Brands Inc was Downgraded by BofA/Merrill to ” Underperform” on Jun 28, 2016. 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 .

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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