L Brands, Inc. (NYSE:LB) had its price target cut by Wolfe Research from $52.00 to $48.00 in a research note released on Friday morning, MarketBeat reports. The firm currently has a peer perform rating on the specialty retailer’s stock.
LB has been the topic of several other reports. FBR & Co reaffirmed an outperform rating and issued a $60.00 price objective on shares of L Brands in a research note on Wednesday, May 31st. Vetr raised L Brands from a strong sell rating to a sell rating and set a $46.34 price objective on the stock in a research note on Monday, June 19th. Instinet reaffirmed a neutral rating and issued a $48.00 price objective (down from $52.00) on shares of L Brands in a research note on Sunday, April 9th. Jefferies Group LLC reissued a sell rating and set a $35.00 price target on shares of L Brands in a research report on Thursday, April 6th. Finally, Piper Jaffray Companies set a $48.00 price target on L Brands and gave the stock a hold rating in a research report on Monday, May 15th. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $57.13.
Shares of L Brands (NYSE LB) traded down 2.13% during mid-day trading on Friday, reaching $44.15. 7,286,358 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $51.51 and a 200 day moving average price of $54.79. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 11.63 and a beta of 0.65. L Brands has a 52 week low of $43.04 and a 52 week high of $79.67.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. Equities research analysts predict that L Brands will post $3.22 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend was Wednesday, May 31st. L Brands’s dividend payout ratio (DPR) is presently 63.16%.
In other news, CEO Nicholas Coe sold 39,839 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the sale, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at $3,698,163.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.45% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Cleararc Capital Inc. raised its position in L Brands by 1.3% in the first quarter. Cleararc Capital Inc. now owns 5,893 shares of the specialty retailer’s stock valued at $278,000 after buying an additional 74 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in L Brands by 0.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,216 shares of the specialty retailer’s stock valued at $1,188,000 after buying an additional 200 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in L Brands by 3.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,483 shares of the specialty retailer’s stock valued at $285,000 after buying an additional 234 shares during the last quarter. Mason Street Advisors LLC raised its position in L Brands by 1.0% in the first quarter. Mason Street Advisors LLC now owns 33,194 shares of the specialty retailer’s stock valued at $1,563,000 after buying an additional 335 shares during the last quarter. Finally, State Treasurer State of Michigan raised its position in L Brands by 0.5% in the first quarter. State Treasurer State of Michigan now owns 78,944 shares of the specialty retailer’s stock valued at $3,718,000 after buying an additional 400 shares during the last quarter. 75.64% of the stock is currently owned by institutional investors.
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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