Insider Selling: Charles Mcguigan Unloads 14,193 Shares of L Brands Stock (LB)
L Brands (NYSE:LB) Insider Charles Mcguigan sold 14,193 shares of the company’s stock on the open market in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $57.78, for a total value of $820,071.54. Following the completion of the sale, the insider now directly owns 50,501 shares in the company, valued at approximately $2,917,948. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
LB has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of L Brands in a research note on Friday. They now have a $60.00 price target on the stock. Separately, analysts at Stifel Nicolaus upgraded shares of L Brands from a “hold” rating to a “buy” rating in a research note on Friday, May 23rd. They now have a $68.00 price target on the stock. Finally, analysts at Mizuho raised their price target on shares of L Brands from $52.00 to $56.00 in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. L Brands presently has an average rating of “Buy” and a consensus target price of $63.67.
L Brands (NYSE:LB) traded up 0.42% during mid-day trading on Tuesday, hitting $58.00. The stock had a trading volume of 1,210,525 shares. L Brands has a 52 week low of $48.77 and a 52 week high of $67.12. The stock has a 50-day moving average of $55.54 and a 200-day moving average of $57.48. The company has a market cap of $16.878 billion and a P/E ratio of 18.64.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.01. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company posted $0.48 earnings per share. L Brands’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that L Brands will post $3.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Wednesday, June 4th.
L Brands, Inc, formerly Limited Brands, Inc operates in the specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories.
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