Loop Capital initiated coverage on shares of L Brands (NYSE:LB) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage issued a hold rating and a $45.00 price target on the specialty retailer’s stock.
Several other research analysts also recently commented on the stock. BMO Capital Markets set a $56.00 target price on shares of L Brands and gave the stock a hold rating in a research note on Tuesday, December 19th. Morgan Stanley reaffirmed an overweight rating and issued a $70.00 target price on shares of L Brands in a research note on Thursday, December 14th. Royal Bank of Canada raised shares of L Brands from a sector perform rating to an outperform rating and lifted their target price for the stock from $40.00 to $58.00 in a research note on Friday, November 17th. B. Riley set a $58.00 target price on shares of L Brands and gave the stock a buy rating in a research note on Thursday, November 16th. Finally, Robert W. Baird set a $60.00 target price on shares of L Brands and gave the stock a hold rating in a research note on Thursday, December 28th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $50.40.
L Brands (NYSE LB) opened at $42.26 on Thursday. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. L Brands has a one year low of $35.00 and a one year high of $63.10. The company has a market cap of $11,928.52, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.16 and a beta of 0.59.
L Brands announced that its Board of Directors has approved a share buyback plan on Thursday, March 8th that allows the company to buyback $226.90 million in outstanding shares. This buyback authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Thursday, February 22nd. L Brands’s dividend payout ratio (DPR) is presently 69.77%.
Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in shares of L Brands by 182.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after buying an additional 1,364 shares in the last quarter. Gradient Investments LLC bought a new stake in shares of L Brands during the 4th quarter valued at $153,000. Steward Partners Investment Advisory LLC bought a new position in L Brands in the 3rd quarter worth about $161,000. Sciencast Management LP bought a new position in L Brands in the 4th quarter worth about $202,000. Finally, Belpointe Asset Management LLC bought a new position in L Brands in the 4th quarter worth about $202,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.
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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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