L Brands, Inc. (LB) Director Buys $498,869.40 in Stock
L Brands, Inc. (NYSE:LB) Director David T. Kollat bought 9,910 shares of the company’s stock in a transaction on Monday, November 20th. The stock was bought at an average cost of $50.34 per share, with a total value of $498,869.40. Following the completion of the purchase, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of L Brands, Inc. (LB) opened at $48.80 on Friday. L Brands, Inc. has a 1 year low of $35.00 and a 1 year high of $75.50. The company has a debt-to-equity ratio of -6.25, a quick ratio of 1.05 and a current ratio of 1.68. The company has a market cap of $13,851.71, a P/E ratio of 15.54, a PEG ratio of 1.35 and a beta of 0.67.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. L Brands had a net margin of 7.73% and a negative return on equity of 110.21%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the company earned $0.42 EPS. L Brands’s revenue was up 1.4% on a year-over-year basis. research analysts expect that L Brands, Inc. will post 3.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Wednesday, November 22nd. L Brands’s dividend payout ratio is 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.
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A number of equities analysts have weighed in on the stock. Scotiabank reaffirmed a “hold” rating and issued a $67.00 target price on shares of L Brands in a research note on Wednesday. Buckingham Research boosted their target price on shares of L Brands from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, November 17th. BMO Capital Markets boosted their target price on shares of L Brands to $49.00 and gave the stock a “market perform” rating in a research note on Friday, November 17th. Piper Jaffray Companies set a $47.00 target price on shares of L Brands and gave the stock a “hold” rating in a research note on Thursday, November 16th. Finally, Royal Bank Of Canada raised shares of L Brands from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $58.00 in a research note on Friday, November 17th. Six investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.70.
A number of hedge funds and other institutional investors have recently modified their holdings of LB. First Personal Financial Services grew its holdings in L Brands by 127.7% during the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 1,096 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in L Brands during the third quarter valued at approximately $161,000. IFP Advisors Inc grew its holdings in L Brands by 52.1% during the third quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after purchasing an additional 1,618 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in L Brands by 11.2% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock valued at $200,000 after purchasing an additional 375 shares during the period. Finally, Chesapeake Asset Management LLC acquired a new position in L Brands during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 76.63% of the company’s stock.
L Brands Company Profile
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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