L Brands Inc. (LB) Stock Rating Lowered by Vetr Inc.
L Brands Inc. (NYSE:LB) was downgraded by investment analysts at Vetr from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday. They currently have a $65.46 target price on the stock. Vetr‘s price target suggests a potential downside of 4.73% from the stock’s previous close.
Several other brokerages have also recently commented on LB. Jefferies Group reiterated a “hold” rating on shares of L Brands in a research note on Tuesday, August 23rd. Morgan Stanley restated a “buy” rating and set a $80.00 target price on shares of L Brands in a research report on Tuesday, August 23rd. Telsey Advisory Group upped their target price on shares of L Brands from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, August 19th. Oppenheimer Holdings Inc. upgraded shares of L Brands from a “market perform” rating to an “outperform” rating and upped their target price for the company from $75.00 to $90.00 in a research report on Friday, August 19th. Finally, FBR & Co upped their target price on shares of L Brands from $68.00 to $75.00 and gave the company a “market perform” rating in a research report on Friday, August 19th. Four analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $75.19.
Shares of L Brands (NYSE:LB) opened at 68.11 on Monday. The firm’s 50-day moving average price is $70.65 and its 200 day moving average price is $71.13. The company has a market capitalization of $19.48 billion, a PE ratio of 16.60 and a beta of 0.88. L Brands has a 52-week low of $60.00 and a 52-week high of $99.83.
L Brands (NYSE:LB) last announced its quarterly 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. The business had revenue of $2.89 billion for the quarter. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, equities analysts forecast that L Brands will post $3.74 earnings per share for the current 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 dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.49%. L Brands’s dividend payout ratio is presently 58.68%.
In related news, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $76.37, for a total transaction of $1,808,976.19. The transaction was disclosed in a legal filing 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 that occurred on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following 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. Insiders own 16.45% of the company’s stock.
A number of large investors have recently bought and sold shares of LB. Amica Retiree Medical Trust purchased a new stake in L Brands during the third quarter worth approximately $106,000. Loomis Sayles & Co. L P boosted its stake in 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 during the last quarter. Financial Architects Inc boosted its stake in L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock worth $117,000 after buying an additional 631 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in L Brands during the second quarter worth approximately $123,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares during the last quarter. 75.47% of the stock is owned by institutional investors.
About L Brands
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.
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