LB has been the topic of several other reports. Argus restated a hold rating on shares of L Brands in a report on Friday, August 26th. Mizuho reiterated a buy rating and issued a $85.00 price target on shares of L Brands in a report on Monday, September 26th. Telsey Advisory Group boosted their price target on L Brands from $88.00 to $90.00 and gave the company an outperform rating in a report on Friday, August 19th. Vetr upgraded L Brands from a sell rating to a hold rating and set a $79.12 price target for the company in a report on Monday, August 22nd. Finally, Jefferies Group reiterated a hold rating on shares of L Brands in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $77.95.
Shares of L Brands (NYSE:LB) opened at 71.76 on Thursday. L Brands has a 12-month low of $60.00 and a 12-month high of $101.11. The firm has a 50-day moving average price of $73.34 and a 200-day moving average price of $73.02. The firm has a market cap of $20.52 billion, a P/E ratio of 17.49 and a beta of 0.91.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The company had revenue of $2.89 billion for the quarter. During the same quarter in the prior year, the firm earned $0.68 earnings per share. L Brands’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that L Brands will post $3.83 earnings per share for the current fiscal year.
In other L Brands news, COO Charles Mcguigan sold 23,687 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the completion of the transaction, the insider now directly owns 13,970 shares in the company, valued at $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in L Brands during the first quarter valued at about $35,118,000. Wellington Management Group LLP increased its stake in L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock valued at $232,522,000 after buying an additional 1,358,509 shares during the period. Artemis Investment Management LLP bought a new stake in L Brands during the second quarter valued at about $93,181,000. Panagora Asset Management Inc. increased its stake in L Brands by 7.8% in the first quarter. Panagora Asset Management Inc. now owns 386,655 shares of the company’s stock valued at $33,952,000 after buying an additional 27,996 shares during the period. Finally, Flossbach Von Storch AG increased its stake in L Brands by 428.2% in the second quarter. Flossbach Von Storch AG now owns 1,686,624 shares of the company’s stock valued at $113,223,000 after buying an additional 1,367,300 shares during the period. 75.60% of the stock is currently owned by institutional investors.
About L Brands
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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