L Brands Inc (NYSE:LB) CFO Stuart B. Burgdoerfer sold 33,000 shares of L Brands stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $42.53, for a total transaction of $1,403,490.00. Following the transaction, the chief financial officer now owns 69,640 shares in the company, valued at $2,961,789.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of L Brands Inc (NYSE LB) opened at $40.56 on Friday. The stock has a market cap of $11,657.55, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.13 and a beta of 0.59. L Brands Inc has a fifty-two week low of $35.00 and a fifty-two week high of $63.10. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.06. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.72 billion. L Brands had a net margin of 7.78% and a negative return on equity of 96.25%. L Brands’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. analysts anticipate that L Brands Inc will post 3.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date was Thursday, February 22nd. L Brands’s dividend payout ratio is presently 69.77%.
L Brands announced that its Board of Directors has initiated a share buyback program on Thursday, March 8th that allows the company to repurchase $226.90 million in shares. This repurchase authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
Several equities analysts have weighed in on LB shares. Royal Bank of Canada upgraded shares of L Brands from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $58.00 in a research report on Friday, November 17th. BMO Capital Markets lifted their price objective on shares of L Brands to $49.00 and gave the stock a “market perform” rating in a research report on Friday, November 17th. Buckingham Research lifted their price objective on shares of L Brands from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. Scotiabank reiterated a “hold” rating and set a $67.00 price objective on shares of L Brands in a research report on Wednesday, November 22nd. Finally, Robert W. Baird set a $48.00 price objective on shares of L Brands and gave the stock a “hold” rating in a research report on Saturday, November 25th. Seven investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have issued a buy rating to the company. L Brands currently has a consensus rating of “Hold” and an average price target of $50.33.
A number of large investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB boosted its holdings in L Brands by 7.6% in the fourth quarter. Xact Kapitalforvaltning AB now owns 44,304 shares of the specialty retailer’s stock worth $2,668,000 after purchasing an additional 3,130 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in L Brands by 6.2% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 90,893 shares of the specialty retailer’s stock worth $5,474,000 after acquiring an additional 5,278 shares during the last quarter. Griffin Asset Management Inc. lifted its position in L Brands by 10.6% during the 4th quarter. Griffin Asset Management Inc. now owns 14,922 shares of the specialty retailer’s stock worth $899,000 after acquiring an additional 1,425 shares during the last quarter. Sawtooth Solutions LLC acquired a new position in L Brands during the 4th quarter worth $1,026,000. Finally, We Are One Seven LLC acquired a new position in L Brands during the 4th quarter worth $1,263,000. Hedge funds and other institutional investors own 81.05% 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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