L Brands Inc. (NYSE:LB) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday. They currently have a $65.46 price target on the stock. Vetr‘s price objective points to a potential downside of 8.84% from the stock’s previous close.
Several other analysts have also recently weighed in on the company. Mizuho reissued a “buy” rating and set a $85.00 price target on shares of L Brands in a report on Monday, September 26th. Citigroup Inc. lifted their price target on L Brands from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. FBR & Co reissued a “market perform” rating and set a $75.00 price target on shares of L Brands in a report on Wednesday, August 31st. Zacks Investment Research cut L Brands from a “buy” rating to a “hold” rating in a report on Monday, October 24th. Finally, Jefferies Group reissued a “hold” rating on shares of L Brands in a report on Monday, September 12th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.62.
Shares of L Brands (NYSE:LB) traded down 0.37% during mid-day trading on Monday, hitting $71.81. The stock had a trading volume of 1,497,120 shares. The stock has a 50 day moving average price of $70.26 and a 200 day moving average price of $70.68. L Brands has a 52 week low of $60.00 and a 52 week high of $99.83. The firm has a market cap of $20.54 billion, a PE ratio of 18.07 and a beta of 0.88.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, November 16th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. L Brands had a negative return on equity of 137.81% and a net margin of 9.31%. The company earned $2.58 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the firm posted $0.55 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Equities research analysts expect that L Brands will post $3.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Wednesday, November 16th. L Brands’s dividend payout ratio is 60.61%.
In other news, COO Charles Mcguigan sold 23,687 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 16.45% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its position in shares of L Brands by 34.5% in the first quarter. Canada Pension Plan Investment Board now owns 11,300 shares of the company’s stock worth $992,000 after buying an additional 2,900 shares in the last quarter. BB&T Securities LLC acquired a new position in shares of L Brands during the first quarter worth about $261,000. Loomis Sayles & Co. L P increased its position in shares of L Brands by 76.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the company’s stock worth $151,000 after buying an additional 741 shares in the last quarter. Wellington Management Group LLP increased its position in shares of L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock worth $232,522,000 after buying an additional 1,358,509 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of L Brands during the first quarter worth about $35,118,000. 76.29% 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 and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.