L Brands’ (NYSE:LB) same-store sales rose 7% in the month of January. L Brands’ shares fell by 0.5% in the first full-day of trading following the report.
Several research firms recently issued reports on LB. Wolfe Research upped their target price on L Brands from $48.00 to $53.00 and gave the stock a “peer perform” rating in a report on Monday, February 12th. Cowen reiterated a “hold” rating and set a $49.00 target price on shares of L Brands in a report on Thursday, February 8th. Northcoast Research upgraded L Brands from a “neutral” rating to a “buy” rating in a report on Wednesday, February 7th. Barclays upped their target price on L Brands from $44.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Finally, Scotiabank reiterated a “hold” rating and set a $59.00 target price on shares of L Brands in a report on Wednesday, January 17th. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $52.30.
In other news, Director David T. Kollat bought 9,910 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $50.34 per share, with a total value of $498,869.40. Following the completion of the transaction, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.68% of the stock is owned by corporate insiders.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts expect that L Brands will post 3.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, February 22nd. L Brands’s payout ratio is 72.95%.
Several institutional investors have recently bought and sold shares of LB. Tower Research Capital LLC TRC grew its position in L Brands by 182.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock worth $128,000 after buying an additional 1,364 shares in the last quarter. Gradient Investments LLC acquired a new stake in L Brands during the fourth quarter worth approximately $153,000. Steward Partners Investment Advisory LLC acquired a new stake in L Brands during the third quarter worth approximately $161,000. IFP Advisors Inc grew its position in L Brands by 52.1% during the third quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after buying an additional 1,618 shares in the last quarter. Finally, Sciencast Management LP acquired a new stake in L Brands during the fourth quarter worth approximately $202,000. 78.48% of the stock is currently owned by institutional investors.
L Brands Company Profile
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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