L Brands CEO Leslie H. Wexner Sells 2,000,000 Shares (LB)
L Brands (NYSE:LB) CEO Leslie H. Wexner sold 2,000,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $62.64, for a total value of $125,280,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of L Brands (NYSE:LB) traded down 0.06% on Wednesday, hitting $63.74. 1,315,905 shares of the company’s stock traded hands. L Brands has a 52-week low of $50.78 and a 52-week high of $67.12. The stock has a 50-day moving average of $60.25 and a 200-day moving average of $57.61. The company has a market cap of $18.608 billion and a price-to-earnings ratio of 20.46.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.63 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.62 by $0.01. The company had revenue of $2.68 billion for the quarter. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that L Brands will post $3.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, August 20th.
LB has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of L Brands in a research note on Friday, August 22nd. They now have a $72.00 price target on the stock, up previously from $63.00. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of L Brands in a research note on Friday, August 22nd. They now have a $59.00 price target on the stock, down previously from $65.00. Finally, analysts at FBR Capital Markets reiterated a “market perform” rating on shares of L Brands in a research note on Friday, August 22nd. They now have a $62.00 price target on the stock, up previously from $57.00. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $62.58.
L 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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