7,348 Shares in L Brands Inc (LB) Purchased by Moors & Cabot Inc.

7,348 Shares in L Brands Inc (LB) Purchased by Moors & Cabot Inc.

Moors & Cabot Inc. bought a new stake in L Brands Inc (NYSE:LB) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,348 shares of the specialty retailer’s stock, valued at approximately $206,000.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of L Brands by 2.6% during the fourth quarter. BlackRock Inc. now owns 21,445,945 shares of the specialty retailer’s stock valued at $550,516,000 after acquiring an additional 535,348 shares during the last quarter. American International Group Inc. grew its holdings in shares of L Brands by 25.4% during the fourth quarter. American International Group Inc. now owns 12,224,858 shares of the specialty retailer’s stock valued at $313,812,000 after buying an additional 2,472,416 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of L Brands by 47.0% during the fourth quarter. Bank of New York Mellon Corp now owns 7,464,698 shares of the specialty retailer’s stock valued at $191,619,000 after buying an additional 2,385,201 shares during the last quarter. SRS Investment Management LLC grew its holdings in shares of L Brands by 24.8% during the fourth quarter. SRS Investment Management LLC now owns 3,137,935 shares of the specialty retailer’s stock valued at $80,551,000 after buying an additional 623,521 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of L Brands by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,977,260 shares of the specialty retailer’s stock valued at $76,373,000 after buying an additional 95,224 shares during the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of L Brands from a “hold” rating to a “sell” rating in a report on Monday. Loop Capital reduced their price objective on shares of L Brands to $20.00 and set a “sell” rating for the company in a report on Wednesday. UBS Group lifted their price objective on shares of L Brands from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Credit Suisse Group reduced their price objective on shares of L Brands from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 28th. Finally, Wells Fargo & Co set a $42.00 price objective on shares of L Brands and gave the company a “buy” rating in a report on Thursday, February 28th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.35.

Shares of L Brands stock opened at $22.51 on Thursday. L Brands Inc has a 52-week low of $21.82 and a 52-week high of $38.14. The firm has a market capitalization of $6.13 billion, a PE ratio of 7.98, a price-to-earnings-growth ratio of 0.86 and a beta of 0.51.

L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, February 27th. The specialty retailer reported $2.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.08. L Brands had a net margin of 4.86% and a negative return on equity of 73.73%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company earned $2.11 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, analysts forecast that L Brands Inc will post 2.36 earnings per share for the current fiscal year.

About L Brands

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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