L Brands’ (NYSE:LB) same store sales increased by 1% in the month of December. L Brands’ stock rose by 0% in the first full-day of trading following the report.
Several equities research analysts have recently issued reports on the stock. Telsey Advisory Group increased their price objective on shares of L Brands from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday. Robert W. Baird raised shares of L Brands from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $70.00 in a research report on Tuesday. BMO Capital Markets set a $56.00 price objective on shares of L Brands and gave the stock a “hold” rating in a research report on Tuesday, December 19th. Morgan Stanley reissued an “overweight” rating and set a $70.00 price objective on shares of L Brands in a research report on Thursday, December 14th. Finally, CIBC reissued a “hold” rating and set a $60.00 price objective on shares of L Brands in a research report on Friday, December 8th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $50.92.
In other L Brands news, Director David T. Kollat purchased 9,910 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were acquired 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.68% of the stock is currently owned by company insiders.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the firm earned $0.42 earnings per share. L Brands’s revenue for the quarter was up 1.4% compared to the same quarter last year. analysts anticipate that L Brands will post 3.14 EPS for the current fiscal year.
L Brands declared that its board has approved a stock repurchase plan on Monday, September 18th that permits the company to repurchase $250.00 million in outstanding 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 generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Wednesday, November 22nd. L Brands’s dividend payout ratio is currently 73.17%.
A number of hedge funds have recently added to or reduced their stakes in LB. Schwab Charles Investment Management Inc. increased its holdings in L Brands by 6.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 844,693 shares of the specialty retailer’s stock valued at $45,521,000 after buying an additional 52,731 shares during the period. Victory Capital Management Inc. increased its holdings in L Brands by 14.3% in the 2nd quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock valued at $5,142,000 after buying an additional 11,967 shares during the period. Keybank National Association OH increased its holdings in L Brands by 10.6% in the 2nd quarter. Keybank National Association OH now owns 8,566 shares of the specialty retailer’s stock valued at $462,000 after buying an additional 822 shares during the period. Principal Financial Group Inc. increased its holdings in L Brands by 3.0% in the 2nd quarter. Principal Financial Group Inc. now owns 366,335 shares of the specialty retailer’s stock valued at $19,742,000 after buying an additional 10,816 shares during the period. Finally, Swiss National Bank increased its holdings in L Brands by 2.8% in the 2nd quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock valued at $47,719,000 after buying an additional 24,300 shares during the period. 78.68% of the stock is currently 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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