A number of other equities analysts also recently weighed in on the stock. MKM Partners reaffirmed a buy rating and issued a $56.00 target price on shares of L Brands in a research note on Sunday, August 20th. Deutsche Bank set a $56.00 target price on shares of L Brands and gave the stock a buy rating in a research note on Thursday, August 17th. Cowen set a $40.00 target price on shares of L Brands and gave the stock a buy rating in a research note on Friday, August 18th. Buckingham Research set a $43.00 target price on shares of L Brands and gave the stock a buy rating in a research note on Friday, August 18th. Finally, Goldman Sachs Group set a $59.00 target price on shares of L Brands and gave the stock a buy rating in a research note on Thursday, August 17th. Six investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $49.40.
L Brands (LB) opened at $57.99 on Friday. L Brands has a 1-year low of $35.00 and a 1-year high of $74.25. The stock has a market cap of $16,168.15, a PE ratio of 18.24, a P/E/G ratio of 1.59 and a beta of 0.81. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Wednesday, November 22nd. L Brands’s dividend payout ratio is currently 72.95%.
L Brands declared that its Board of Directors has initiated a share buyback plan on Monday, September 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In related news, Director David T. Kollat purchased 9,910 shares of L Brands stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the acquisition, the director now directly owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Allan R. Tessler purchased 20,000 shares of L Brands stock in a transaction dated Thursday, September 21st. The stock was bought at an average price of $37.00 per share, with a total value of $740,000.00. Following the acquisition, the director now directly owns 43,342 shares of the company’s stock, valued at $1,603,654. The disclosure for this purchase can be found here. 16.68% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. First Personal Financial Services lifted its position in shares of L Brands by 127.7% in the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after purchasing an additional 1,096 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of L Brands in the third quarter worth $161,000. First Allied Advisory Services Inc. bought a new stake in shares of L Brands in the second quarter worth $216,000. Hikari Power Ltd bought a new stake in shares of L Brands in the second quarter worth $219,000. Finally, Budros Ruhlin & Roe Inc. bought a new stake in shares of L Brands in the second quarter worth $235,000. Institutional investors own 78.95% of the company’s stock.
About L Brands
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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