L Brands Inc. (LB) Upgraded at Citigroup Inc.
Citigroup Inc. upgraded shares of L Brands Inc. (NYSE:LB) from a neutral rating to a buy rating in a report issued on Monday morning. The brokerage currently has $84.00 price objective on the stock, up from their previous price objective of $74.00.
LB has been the subject of several other research reports. Zacks Investment Research raised L Brands from a strong sell rating to a hold rating in a research report on Tuesday, July 19th. Vetr raised L Brands from a hold rating to a buy rating and set a $73.68 price target for the company in a research report on Wednesday, July 20th. Jefferies Group reissued a hold rating on shares of L Brands in a research report on Monday, August 1st. MKM Partners reissued a neutral rating and set a $60.00 price target on shares of L Brands in a research report on Wednesday, August 3rd. Finally, FBR & Co set a $68.00 price target on L Brands and gave the stock a hold rating in a research report on Friday, August 5th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $74.98.
Shares of L Brands (NYSE:LB) traded down 0.15% during trading on Monday, hitting $67.83. The stock had a trading volume of 491,572 shares. L Brands has a 12-month low of $60.00 and a 12-month high of $99.83. The stock’s 50 day moving average is $70.25 and its 200-day moving average is $70.86. The company has a market cap of $19.40 billion, a PE ratio of 16.53 and a beta of 0.88.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, November 16th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business earned $2.58 billion during the quarter, compared to analysts’ expectations of $2.57 billion. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Analysts forecast that L Brands will post $3.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Wednesday, November 16th. L Brands’s dividend payout ratio (DPR) is presently 58.68%.
In related news, insider Martin P. Waters sold 45,500 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the completion of the transaction, the insider now directly owns 13,970 shares of the company’s stock, valued at approximately $1,082,535.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The disclosure for this sale can be found here. Insiders own 16.45% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Amica Retiree Medical Trust purchased a new stake in L Brands during the third quarter worth $106,000. Financial Architects Inc increased 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 period. Tower Research Capital LLC TRC purchased a new stake in L Brands during the second quarter worth $123,000. Whittier Trust Co. of Nevada Inc. increased 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 period. Finally, Global X Management Co. LLC increased its stake in L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock worth $138,000 after buying an additional 1,016 shares during the period. 75.47% of the stock is owned by institutional investors and hedge funds.
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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