Howard Hughes Medical Institute Lowers stake in L Brands Inc (LB)

L Brands Inc (LB) : Howard Hughes Medical Institute reduced its stake in L Brands Inc by 39.15% during the most recent quarter end. The investment management company now holds a total of 46,905 shares of L Brands Inc which is valued at $3,401,551 after selling 30,184 shares in L Brands Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.L Brands Inc makes up approximately 1.08% of Howard Hughes Medical Institute’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities boosted its stake in LB in the latest quarter, The investment management firm added 24,860 additional shares and now holds a total of 36,009 shares of L Brands Inc which is valued at $2,611,373. L Brands Inc makes up approx 0.02% of Sg Americas Securities’s portfolio. Concert Wealth Management sold out all of its stake in LB during the most recent quarter. The investment firm sold 2,750 shares of LB which is valued $203,225.Retirement Systems Of Alabama reduced its stake in LB by selling 752 shares or 0.58% in the most recent quarter. The Hedge Fund company now holds 128,983 shares of LB which is valued at $9,487,989. L Brands Inc makes up approx 0.05% of Retirement Systems Of Alabama’s portfolio.

L Brands Inc closed down -0.66 points or -0.88% at $73.96 with 18,57,985 shares getting traded on Monday. Post opening the session at $74.86, the shares hit an intraday low of $73.76 and an intraday high of $75.1 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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