L Brands Inc (LB) Receives Average Rating of “Hold” from Brokerages
Shares of L Brands Inc (NYSE:LB) have earned a consensus recommendation of “Hold” from the forty research firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $52.10.
LB has been the topic of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target on shares of L Brands in a research report on Thursday, December 14th. B. Riley reiterated a “buy” rating and set a $58.00 price target on shares of L Brands in a research report on Wednesday, November 29th. CIBC reiterated a “hold” rating and set a $60.00 price target on shares of L Brands in a research report on Friday, December 8th. Royal Bank of Canada upgraded shares of L Brands from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $58.00 in a research report on Friday, November 17th. Finally, Citigroup boosted their price target on shares of L Brands from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd.
L Brands (LB) opened at $48.54 on Wednesday. L Brands has a 52-week low of $35.00 and a 52-week high of $63.10. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45. The stock has a market cap of $13,700.00, a PE ratio of 14.80, a P/E/G ratio of 1.25 and a beta of 0.61.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.40 annualized dividend and a dividend yield of 4.94%. L Brands’s dividend payout ratio is presently 73.17%.
In other news, Director David T. Kollat bought 9,910 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the purchase, the director now owns 158,878 shares in the company, valued at approximately $7,997,918.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 16.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. American International Group Inc. lifted its stake in shares of L Brands by 74.8% in the fourth quarter. American International Group Inc. now owns 10,436,938 shares of the specialty retailer’s stock worth $628,512,000 after buying an additional 4,466,237 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of L Brands by 29.0% in 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 buying an additional 935,259 shares in the last quarter. Scharf Investments LLC lifted its stake in shares of L Brands by 24.9% in the third quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock worth $161,248,000 after buying an additional 772,740 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of L Brands by 28.8% in the third quarter. Ameriprise Financial Inc. now owns 2,741,497 shares of the specialty retailer’s stock worth $114,036,000 after buying an additional 613,680 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of L Brands by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,638,420 shares of the specialty retailer’s stock worth $158,886,000 after buying an additional 40,263 shares in the last quarter. Hedge funds and other institutional investors own 78.48% 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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