L Brands Inc (NYSE:LB) has been assigned an average recommendation of “Hold” from the thirty-seven ratings firms that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $43.19.
LB has been the subject of a number of research reports. UBS Group initiated coverage on L Brands in a research note on Thursday. They issued a “neutral” rating and a $37.00 price objective for the company. Robert W. Baird reissued a “buy” rating on shares of L Brands in a research note on Wednesday, March 7th. Cowen set a $45.00 target price on L Brands and gave the company a “hold” rating in a research report on Thursday, March 1st. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of L Brands in a research report on Thursday, March 1st. Finally, Telsey Advisory Group cut their target price on L Brands from $52.00 to $41.00 and set a “market perform” rating on the stock in a research report on Friday, April 13th.
Shares of L Brands traded down $0.45, reaching $36.69, during mid-day trading on Tuesday, according to Marketbeat Ratings. 4,109,480 shares of the company were exchanged, compared to its average volume of 4,577,549. L Brands has a 52 week low of $30.70 and a 52 week high of $63.10. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.16 and a beta of 0.77. The company has a debt-to-equity ratio of -5.90, a current ratio of 1.56 and a quick ratio of 0.83.
L Brands declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 8th that permits the company to repurchase $226.90 million in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date was Thursday, May 31st. L Brands’s payout ratio is 75.00%.
In other news, Director Donna James sold 1,000 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $35.29, for a total value of $35,290.00. Following the completion of the transaction, the director now owns 19,738 shares of the company’s stock, valued at approximately $696,554.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.32% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in L Brands by 182.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,364 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in shares of L Brands in the 1st quarter worth $117,000. Belpointe Asset Management LLC purchased a new position in shares of L Brands in the 4th quarter worth $202,000. Camarda Financial Advisors LLC purchased a new position in shares of L Brands in the 1st quarter worth $131,000. Finally, Barings LLC purchased a new position in shares of L Brands in the 4th quarter worth $217,000. 76.45% of the stock is owned by hedge funds and other institutional investors.
About L Brands
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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