Credit Suisse Group reiterated their neutral rating on shares of L Brands, Inc. (NYSE:LB) in a research note published on Friday, May 19th. The brokerage currently has a $55.00 price target on the specialty retailer’s stock, up from their prior price target of $52.00.
A number of other equities research analysts have also weighed in on LB. Vetr upgraded L Brands from a buy rating to a strong-buy rating and set a $69.56 price target on the stock in a research note on Thursday, January 26th. Buckingham Research restated a buy rating on shares of L Brands in a research note on Wednesday, April 26th. Jefferies Group LLC restated a sell rating and set a $35.00 price target on shares of L Brands in a research note on Thursday, April 6th. Pacific Crest lowered L Brands to a sell rating in a research note on Tuesday, April 4th. Finally, Zacks Investment Research lowered L Brands from a hold rating to a sell rating in a research note on Tuesday, March 14th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the stock. L Brands has a consensus rating of Hold and a consensus target price of $58.63.
Shares of L Brands (NYSE:LB) traded down 0.98% during mid-day trading on Friday, reaching $51.56. 3,833,777 shares of the company traded hands. The firm has a 50 day moving average of $51.25 and a 200-day moving average of $56.07. L Brands has a 52 week low of $43.04 and a 52 week high of $79.67. The stock has a market capitalization of $14.79 billion, a PE ratio of 13.58 and a beta of 0.62.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.04. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.46 billion. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. On average, equities research analysts expect that L Brands will post $3.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Wednesday, May 31st. L Brands’s dividend payout ratio (DPR) is 63.16%.
In related news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the transaction, the chief executive officer now directly owns 75,658 shares in the company, valued at approximately $3,698,163.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.45% of the company’s stock.
A number of institutional investors have recently made changes to their positions in LB. Rothschild Asset Management Inc. boosted its position in shares of L Brands by 9.8% in the third quarter. Rothschild Asset Management Inc. now owns 6,296 shares of the specialty retailer’s stock worth $446,000 after buying an additional 564 shares during the period. Nordea Investment Management AB raised its stake in L Brands by 7.1% in the third quarter. Nordea Investment Management AB now owns 498,885 shares of the specialty retailer’s stock worth $35,306,000 after buying an additional 32,995 shares in the last quarter. LMR Partners LLP bought a new stake in L Brands during the third quarter worth about $2,309,000. Stratos Wealth Partners LTD. raised its stake in L Brands by 0.7% in the third quarter. Stratos Wealth Partners LTD. now owns 7,673 shares of the specialty retailer’s stock worth $543,000 after buying an additional 56 shares in the last quarter. Finally, Three Peaks Capital Management LLC raised its stake in L Brands by 3.3% in the third quarter. Three Peaks Capital Management LLC now owns 73,364 shares of the specialty retailer’s stock worth $5,192,000 after buying an additional 2,364 shares in the last quarter. Institutional investors own 77.14% of the company’s stock.
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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