L Brands’ (NYSE:LB) same-store sales climbed 2% in the month of September. The company beat analysts’ expectations of a 1.9% year-over-year increase in sales. L Brands’ stock fell by 1.5% in the first day of trading following the news.
LB has been the topic of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 price target (up from $75.00) on shares of L Brands in a research report on Friday, August 5th. Citigroup Inc. increased their price target on shares of L Brands from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. FBR & Co reiterated a “market perform” rating and issued a $75.00 price target on shares of L Brands in a research report on Wednesday, August 31st. Morgan Stanley restated a “buy” rating and set a $80.00 price objective on shares of L Brands in a research report on Tuesday, August 23rd. Finally, Nomura restated a “neutral” rating and set a $60.00 price objective (up from $58.00) on shares of L Brands in a research report on Sunday, July 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. L Brands presently has a consensus rating of “Hold” and a consensus price target of $77.52.
In related news, insider Martin P. Waters sold 45,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the transaction, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas Coe sold 4,951 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $67.53, for a total transaction of $334,341.03. The disclosure for this sale can be found here. 16.45% of the stock is currently owned by insiders.
L Brands (NYSE:LB) opened at 70.77 on Friday. The company’s 50 day moving average is $74.11 and its 200 day moving average is $73.89. The company has a market cap of $20.24 billion, a price-to-earnings ratio of 17.25 and a beta of 0.80. L Brands has a 1-year low of $60.00 and a 1-year high of $101.11.
L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The firm earned $2.89 billion during the quarter. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that L Brands will post $3.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Wednesday, August 17th. L Brands’s payout ratio is 58.68%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. increased its position in shares of L Brands by 29.1% in the second quarter. Macquarie Group Ltd. now owns 2,458,599 shares of the company’s stock valued at $165,045,000 after buying an additional 553,939 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of L Brands during the second quarter valued at $686,000. Kentucky Retirement Systems purchased a new position in shares of L Brands during the second quarter valued at $1,444,000. Mason Street Advisors LLC purchased a new position in shares of L Brands during the second quarter valued at $2,288,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of L Brands by 2.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,228 shares of the company’s stock valued at $754,000 after buying an additional 215 shares during the last quarter. 75.60% of the stock is owned by hedge funds and other 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 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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