Credit Suisse Group Reaffirms Hold Rating for L Brands (NYSE:LB)
Credit Suisse Group reissued their hold rating on shares of L Brands (NYSE:LB) in a research note released on Thursday, AnalystRatings.com reports. The firm currently has a $22.00 price objective on the specialty retailer’s stock.
A number of other equities research analysts have also recently weighed in on the company. MKM Partners dropped their price target on L Brands from $26.00 to $21.00 and set a neutral rating on the stock in a research note on Wednesday, September 11th. Goldman Sachs Group set a $26.00 price objective on L Brands and gave the stock a buy rating in a research report on Friday, August 23rd. UBS Group lowered their price objective on L Brands from $24.00 to $19.00 and set a neutral rating on the stock in a research report on Wednesday, September 11th. Sanford C. Bernstein reiterated a market perform rating and set a $21.00 price objective (down previously from $30.00) on shares of L Brands in a research report on Friday, August 23rd. Finally, Telsey Advisory Group lowered their price objective on L Brands from $24.00 to $22.00 and set a market perform rating on the stock in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $26.43.
LB opened at $18.87 on Thursday. L Brands has a 1-year low of $15.82 and a 1-year high of $38.00. The stock’s fifty day simple moving average is $20.53 and its 200 day simple moving average is $24.22. The stock has a market cap of $5.25 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 0.68 and a beta of 0.76.
The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date of this dividend was Thursday, August 22nd. L Brands’s payout ratio is currently 42.55%.
Several hedge funds and other institutional investors have recently modified their holdings of LB. First Mercantile Trust Co. bought a new position in shares of L Brands in the second quarter worth $32,000. Phocas Financial Corp. acquired a new stake in L Brands in the second quarter valued at about $41,000. Northwestern Mutual Wealth Management Co. boosted its stake in L Brands by 65.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock valued at $130,000 after buying an additional 1,857 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in L Brands in the second quarter valued at about $130,000. Finally, City Holding Co. boosted its stake in L Brands by 360.6% in the second quarter. City Holding Co. now owns 6,131 shares of the specialty retailer’s stock valued at $160,000 after buying an additional 4,800 shares in the last quarter. Institutional investors own 69.76% of the company’s stock.
About L Brands
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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