L Brands Inc (LB) : First Mercantile Trust Co reduced its stake in L Brands Inc by 8.81% during the most recent quarter end. The investment management company now holds a total of 39,578 shares of L Brands Inc which is valued at $2,819,141 after selling 3,822 shares in L Brands Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.L Brands Inc makes up approximately 0.38% of First Mercantile Trust Co’s portfolio.
Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in LB by selling 4,154 shares or 6.34% in the most recent quarter. The Hedge Fund company now holds 61,336 shares of LB which is valued at $4,368,963. L Brands Inc makes up approx 0.09% of Exxonmobil Investment Management Inc Tx’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in LB by selling 3,194 shares or 9.32% in the most recent quarter. The Hedge Fund company now holds 31,072 shares of LB which is valued at $2,191,197. L Brands Inc makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio. West Oak Capital added LB to its portfolio by purchasing 400 company shares during the most recent quarter which is valued at $28,208. L Brands Inc makes up approx 0.02% of West Oak Capital’s portfolio. Washington Trust Bank added LB to its portfolio by purchasing 35 company shares during the most recent quarter which is valued at $2,468.
L Brands Inc opened for trading at $71.7 and hit $72.77 on the upside on Friday, eventually ending the session at $71.23, with a gain of 0.10% or 0.07 points. The heightened volatility saw the trading volume jump to 26,27,988 shares. Company has a market cap of $20,370 M.
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.