Huntington National Bank Has $140,000 Stock Holdings in L Brands Inc (NYSE:LB)

Huntington National Bank trimmed its position in L Brands Inc (NYSE:LB) by 18.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,158 shares of the specialty retailer’s stock after selling 1,608 shares during the period. Huntington National Bank’s holdings in L Brands were worth $140,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in LB. First Mercantile Trust Co. acquired a new stake in L Brands during the 2nd quarter worth approximately $32,000. NuWave Investment Management LLC raised its holdings in L Brands by 757.8% during the 3rd quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock worth $32,000 after buying an additional 1,690 shares during the period. Strategic Blueprint LLC acquired a new stake in L Brands during the 3rd quarter worth approximately $33,000. Phocas Financial Corp. acquired a new stake in L Brands during the 2nd quarter worth approximately $41,000. Finally, Trustcore Financial Services LLC acquired a new stake in L Brands during the 2nd quarter worth approximately $130,000. Institutional investors and hedge funds own 69.86% of the company’s stock.

Shares of NYSE:LB traded down $0.33 during midday trading on Friday, hitting $17.75. The stock had a trading volume of 5,056,209 shares, compared to its average volume of 5,039,532. L Brands Inc has a 12 month low of $15.82 and a 12 month high of $38.00. The business’s 50-day simple moving average is $17.92 and its 200-day simple moving average is $21.75. The company has a market cap of $4.91 billion, a P/E ratio of 6.29, a PEG ratio of 0.64 and a beta of 0.77.

L Brands (NYSE:LB) last released its earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the business earned $0.36 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. On average, research analysts predict that L Brands Inc will post 2.4 EPS for the current year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

The business also recently disclosed a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.32 per share. The ex-dividend date was Monday, September 30th. L Brands’s dividend payout ratio (DPR) is 42.55%.

Several equities analysts have recently weighed in on LB shares. UBS Group decreased their price target on shares of L Brands from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Telsey Advisory Group decreased their price target on shares of L Brands from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday, August 23rd. Loop Capital decreased their price target on shares of L Brands from $20.00 to $15.00 and set a “sell” rating for the company in a research note on Thursday, August 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $21.00 price target (down from $30.00) on shares of L Brands in a research note on Friday, August 23rd. Finally, Zacks Investment Research cut shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $25.95.

L Brands Profile

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.

See Also: What does the Producer Price Index (PPI) tell investors?

Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L Brands Inc (NYSE:LB).

Institutional Ownership by Quarter for L Brands (NYSE:LB)

Leave a Reply

Your email address will not be published. Required fields are marked *

*