L Brands (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 completion of the sale, the chief financial officer now directly owns 69,640 shares of the company’s stock, valued at $2,961,789.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of LB traded down $0.53 during midday trading on Friday, hitting $38.20. The company had a trading volume of 3,818,560 shares, compared to its average volume of 4,314,491. The company has a market capitalization of $10,782.52, a P/E ratio of 11.94, a PEG ratio of 1.05 and a beta of 0.78. 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 -7.60, a quick ratio of 1.01 and a current ratio of 1.62.
L Brands (NYSE:LB) last released its earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.06. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.72 billion. L Brands had a net margin of 7.78% and a negative return on equity of 101.69%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 EPS. sell-side analysts expect that L Brands will post 3.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend was Thursday, February 22nd. L Brands’s payout ratio is currently 75.00%.
L Brands announced that its board has authorized a stock buyback program on Thursday, March 8th that authorizes the company to repurchase $226.90 million in shares. This repurchase authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of L Brands by 182.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after buying an additional 1,364 shares during the last quarter. Gradient Investments LLC bought a new stake in shares of L Brands during the 4th quarter valued at about $153,000. Belpointe Asset Management LLC bought a new stake in shares of L Brands during the 4th quarter valued at about $202,000. Check Capital Management Inc. CA bought a new stake in shares of L Brands during the 4th quarter valued at about $205,000. Finally, St. Louis Trust Co bought a new stake in shares of L Brands during the 4th quarter valued at about $211,000. 81.06% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. ValuEngine lowered shares of L Brands from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Investment Research lowered shares of L Brands from a “hold” rating to a “sell” rating in a report on Monday, March 26th. KeyCorp decreased their price target on shares of L Brands from $35.00 to $32.00 and set an “underweight” rating on the stock in a report on Monday, March 26th. Loop Capital set a $42.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Tuesday, March 20th. Finally, Credit Suisse Group assumed coverage on shares of L Brands in a report on Monday, March 12th. They issued a “neutral” rating and a $45.00 price target on the stock. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. L Brands has a consensus rating of “Hold” and a consensus price target of $50.24.
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L Brands Company Profile
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include loungewear, bras, panties, swimwear, athletic attire, fragrances, shower gels and lotions, aromatherapy, soaps and sanitizers, home fragrances, handbags, jewelry, and personal care accessories.
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