Todays Report: Today, L Brands Inc. Stock Falls 1.5% Following September Same Store Sales Report (NYSE:LB)

Today, L Brands Inc. Stock Falls 1.5% Following  September Same Store Sales Report (NYSE:LB)

L Brands’ (NYSE:LB) same store sales increased by 2% in the month of September. The company beat analysts’ expectations of a 1.9% year-over-year increase in sales. L Brands’ shares dropped by 1.5% in the first day of trading following the news.

A number of research analysts have commented on LB shares. Stifel Nicolaus restated a “buy” rating and issued a $82.00 price objective (up from $75.00) on shares of L Brands in a research note on Friday, August 5th. Citigroup Inc. lifted their price objective on shares of L Brands from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. FBR & Co restated a “market perform” rating and issued a $75.00 price objective on shares of L Brands in a research note on Wednesday, August 31st. Morgan Stanley restated a “buy” rating and issued a $80.00 price objective on shares of L Brands in a research note on Tuesday, August 23rd. Finally, Nomura restated a “neutral” rating and issued a $60.00 price objective (up from $58.00) on shares of L Brands in a research note on Sunday, July 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. L Brands presently has an average rating of “Hold” and a consensus target price of $77.52.

In other news, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total value of $1,808,976.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the sale, the insider now directly owns 13,970 shares of the company’s stock, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is currently owned by insiders.

Shares of L Brands (NYSE:LB) opened at 70.52 on Thursday. The stock has a 50 day moving average of $73.78 and a 200 day moving average of $73.43. L Brands has a 52-week low of $60.00 and a 52-week high of $101.11. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 17.19 and a beta of 0.91.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The company earned $2.89 billion during the quarter. During the same quarter in the previous year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that L Brands will post $3.83 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services Inc boosted its position in shares of L Brands by 2.2% in the first quarter. Commonwealth Equity Services Inc now owns 8,428 shares of the company’s stock valued at $740,000 after buying an additional 178 shares during the last quarter. Aperio Group LLC boosted its position in shares of L Brands by 4.0% in the first quarter. Aperio Group LLC now owns 92,921 shares of the company’s stock valued at $8,159,000 after buying an additional 3,558 shares during the last quarter. Virginia Retirement System purchased a new position in shares of L Brands during the first quarter valued at approximately $351,000. IFP Advisors Inc boosted its position in shares of L Brands by 25.0% in the first quarter. IFP Advisors Inc now owns 2,963 shares of the company’s stock valued at $260,000 after buying an additional 592 shares during the last quarter. Finally, Icon Advisers Inc. Co. purchased a new position in shares of L Brands during the first quarter valued at approximately $457,000. Institutional investors own 75.60% of the company’s stock.

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