L Brands (LB) Given a $56.00 Price Target by BMO Capital Markets Analysts
A number of other equities research analysts have also recently issued reports on LB. Morgan Stanley reissued an overweight rating and issued a $70.00 price target on shares of L Brands in a research note on Thursday, December 14th. CIBC reissued a hold rating and issued a $60.00 price target on shares of L Brands in a research note on Friday, December 8th. Telsey Advisory Group lifted their price target on shares of L Brands from $60.00 to $64.00 and gave the company an outperform rating in a research note on Monday, December 4th. Robert W. Baird set a $52.00 price target on shares of L Brands and gave the company a hold rating in a research note on Friday, December 1st. Finally, B. Riley reissued a buy rating and issued a $58.00 price target on shares of L Brands in a research note on Wednesday, November 29th. Six research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eleven have assigned a buy rating to the company. L Brands presently has a consensus rating of Hold and a consensus target price of $50.22.
L Brands (LB) traded down $0.08 on Tuesday, reaching $60.26. 2,710,024 shares of the company’s stock were exchanged, compared to its average volume of 4,249,362. L Brands has a 12 month low of $35.00 and a 12 month high of $70.20. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. The stock has a market cap of $17,221.00, a price-to-earnings ratio of 19.43, a PEG ratio of 1.69 and a beta of 0.81.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were issued a $0.60 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $2.40 annualized dividend and a yield of 3.98%. L Brands’s dividend payout ratio (DPR) is currently 72.95%.
L Brands announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In related news, Director David T. Kollat acquired 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the acquisition, the director now owns 158,878 shares in the company, valued at $7,997,918.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan R. Tessler acquired 20,000 shares of L Brands stock in a transaction that occurred on Thursday, September 21st. The stock was bought at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the acquisition, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The disclosure for this purchase can be found here. 16.68% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of LB. Janus Henderson Group PLC increased its stake in L Brands by 4,925.7% during the second quarter. Janus Henderson Group PLC now owns 1,703,014 shares of the specialty retailer’s stock worth $91,776,000 after purchasing an additional 1,669,128 shares during the period. American Century Companies Inc. increased its stake in L Brands by 328.4% during the third quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock worth $51,615,000 after purchasing an additional 950,859 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in L Brands by 29.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock worth $172,952,000 after purchasing an additional 935,259 shares during the period. Flossbach Von Storch AG increased its stake in L Brands by 81.2% during the third quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock worth $85,468,000 after purchasing an additional 920,710 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in L Brands during the second quarter worth about $46,840,000. Institutional investors own 78.68% of the company’s stock.
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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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