Piper Jaffray Companies reissued their hold rating on shares of L Brands Inc (NYSE:LB) in a research note released on Friday, May 5th. They currently have a $48.00 target price on the specialty retailer’s stock.
A number of other brokerages have also issued reports on LB. Cowen and Company reduced their price target on L Brands from $74.00 to $65.00 and set an outperform rating for the company in a research report on Thursday, January 5th. Royal Bank of Canada set a $70.00 price objective on L Brands and gave the stock a hold rating in a research note on Thursday, January 5th. Jefferies Group LLC set a $48.00 price objective on L Brands and gave the stock a sell rating in a research note on Thursday, January 5th. Mizuho set a $65.00 price objective on L Brands and gave the stock a hold rating in a research note on Thursday, January 5th. Finally, Stifel Nicolaus reissued a buy rating and issued a $75.00 price objective (down previously from $80.00) on shares of L Brands in a research note on Thursday, January 5th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and ten have issued a buy rating to the company. L Brands currently has a consensus rating of Hold and an average target price of $59.48.
Shares of L Brands (NYSE:LB) traded down 1.41% on Friday, hitting $48.99. 4,741,887 shares of the stock traded hands. L Brands has a 12 month low of $43.04 and a 12 month high of $79.67. The firm’s 50 day moving average is $49.41 and its 200-day moving average is $58.39. The company has a market cap of $13.96 billion, a PE ratio of 12.91 and a beta of 0.82.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. L Brands had a negative return on equity of 137.81% and a net margin of 9.31%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. Equities analysts predict that L Brands will post $3.22 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.83%. L Brands’s payout ratio is presently 60.61%.
In other news, CEO Nicholas Coe sold 39,839 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the completion of the transaction, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 16.45% of the company’s stock.
Institutional investors have recently modified their holdings of the company. HL Financial Services LLC bought a new position in shares of L Brands during the third quarter worth about $202,000. Great West Life Assurance Co. Can boosted its position in shares of L Brands by 1.6% in the third quarter. Great West Life Assurance Co. Can now owns 198,171 shares of the specialty retailer’s stock worth $14,012,000 after buying an additional 3,158 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of L Brands by 2.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 37,637 shares of the specialty retailer’s stock worth $2,664,000 after buying an additional 784 shares during the last quarter. Douglas Lane & Associates LLC boosted its position in shares of L Brands by 25.8% in the third quarter. Douglas Lane & Associates LLC now owns 42,147 shares of the specialty retailer’s stock worth $2,983,000 after buying an additional 8,639 shares during the last quarter. Finally, DnB Asset Management AS boosted its position in shares of L Brands by 2.5% in the third quarter. DnB Asset Management AS now owns 20,559 shares of the specialty retailer’s stock worth $1,455,000 after buying an additional 500 shares during the last quarter. 74.20% of the stock is owned by institutional investors and hedge funds.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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