The L Brands Inc. (LB) Shares Sold by APG Asset Management N.V.

The L Brands Inc. (LB) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. decreased its stake in L Brands Inc. (NYSE:LB) by 23.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,450,967 shares of the company’s stock after selling 442,100 shares during the period. APG Asset Management N.V.’s holdings in L Brands were worth $102,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Shell Asset Management Co. increased its position in shares of L Brands by 18.7% in the second quarter. Shell Asset Management Co. now owns 37,959 shares of the company’s stock valued at $2,548,000 after buying an additional 5,978 shares during the last quarter. Financial Architects Inc increased its position in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of L Brands during the second quarter valued at approximately $10,418,000. Douglas Lane & Associates LLC increased its position in shares of L Brands by 29.4% in the second quarter. Douglas Lane & Associates LLC now owns 33,508 shares of the company’s stock valued at $2,249,000 after buying an additional 7,607 shares during the last quarter. Finally, Prospera Financial Services Inc increased its position in shares of L Brands by 48.6% in the second quarter. Prospera Financial Services Inc now owns 3,651 shares of the company’s stock valued at $245,000 after buying an additional 1,194 shares during the last quarter. 73.79% of the stock is owned by hedge funds and other institutional investors.

Shares of L Brands Inc. (NYSE:LB) opened at 61.87 on Thursday. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 15.57 and a beta of 0.84. The stock’s 50 day moving average price is $67.95 and its 200 day moving average price is $70.98. L Brands Inc. has a 12 month low of $60.00 and a 12 month high of $97.35.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, November 16th. The company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.57 billion. L Brands had a negative return on equity of 124.12% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Analysts expect that L Brands Inc. will post $3.59 EPS for the current year.

LB has been the subject of several research analyst reports. Mizuho reissued a “buy” rating and set a $85.00 target price on shares of L Brands in a research note on Monday, September 26th. Oppenheimer Holdings Inc. set a $90.00 target price on L Brands and gave the stock a “buy” rating in a research note on Thursday, October 6th. Cowen and Company reissued an “outperform” rating and set a $83.00 target price on shares of L Brands in a research note on Saturday, October 8th. FBR & Co set a $75.00 target price on L Brands and gave the stock a “hold” rating in a research note on Saturday, October 8th. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $71.00 price objective on shares of L Brands in a research note on Wednesday, October 12th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $73.37.

L Brands Company Profile

L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.

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