L Brands’ (NYSE:LB) same-store sales decreased by 1% in the month of November. L Brands’ shares climbed by 6.7% in the first day of trading following the report.
A number of equities analysts have weighed in on LB shares. Deutsche Bank set a $56.00 price objective on L Brands and gave the stock a “buy” rating in a research note on Thursday, August 17th. Goldman Sachs Group set a $59.00 target price on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Cowen set a $40.00 target price on L Brands and gave the company a “buy” rating in a research report on Friday, August 18th. Buckingham Research set a $43.00 target price on L Brands and gave the company a “buy” rating in a research report on Friday, August 18th. Finally, Oppenheimer set a $55.00 target price on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $49.07.
In other news, Director Allan R. Tessler bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was purchased at an average cost of $37.00 per share, with a total value of $740,000.00. Following the transaction, the director now directly owns 43,342 shares in the company, valued at $1,603,654. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David T. Kollat bought 9,910 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $50.34 per share, with a total value of $498,869.40. Following the completion of the transaction, the director now owns 158,878 shares in the company, valued at $7,997,918.52. The disclosure for this purchase can be found here. Corporate insiders own 16.68% of the company’s stock.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a negative return on equity of 110.21% and a net margin of 7.73%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. research analysts forecast that L Brands will post 3.14 EPS for the current year.
L Brands declared that its board has authorized a stock repurchase plan on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.20%. The ex-dividend date is Wednesday, November 22nd. L Brands’s payout ratio is currently 72.95%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aviva PLC boosted its holdings in shares of L Brands by 5.7% during the second quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after purchasing an additional 7,635 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in L Brands by 14.3% in the second quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock valued at $5,142,000 after acquiring an additional 11,967 shares during the last quarter. Swiss National Bank boosted its holdings in L Brands by 2.8% in the second quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock valued at $47,719,000 after acquiring an additional 24,300 shares during the last quarter. Bridgewater Associates LP boosted its holdings in L Brands by 16.5% in the second quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock valued at $4,398,000 after acquiring an additional 11,570 shares during the last quarter. Finally, Pring Turner Capital Group Inc. acquired a new position in L Brands in the second quarter valued at $2,689,000. 78.51% of the stock is owned by hedge funds and other institutional investors.
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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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