Stifel Financial Corp raised its holdings in L Brands Inc (NYSE:LB) by 51.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,688 shares of the specialty retailer’s stock after buying an additional 5,644 shares during the period. Stifel Financial Corp’s holdings in L Brands were worth $694,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. First Allied Advisory Services Inc. purchased a new stake in L Brands in the 2nd quarter valued at approximately $216,000. Hikari Power Ltd purchased a new stake in L Brands in the 2nd quarter valued at approximately $219,000. IFP Advisors Inc lifted its position in shares of L Brands by 52.1% during the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after acquiring an additional 1,618 shares during the period. Captrust Financial Advisors acquired a new stake in shares of L Brands during the 2nd quarter valued at approximately $261,000. Finally, Chesapeake Asset Management LLC acquired a new stake in shares of L Brands during the 3rd quarter valued at approximately $205,000. Institutional investors own 78.68% of the company’s stock.
A number of equities research analysts have recently issued reports on LB shares. 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. Oppenheimer restated a “buy” rating on shares of L Brands in a research report on Thursday, October 5th. B. Riley restated a “buy” rating and set a $58.00 price objective on shares of L Brands in a research report on Wednesday, November 29th. Citigroup boosted their price target on L Brands from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Royal Bank of Canada raised shares of L Brands from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $58.00 in a research note on Friday, November 17th. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.86.
In related news, Director David T. Kollat acquired 9,910 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the acquisition, the director now directly owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 16.68% of the company’s stock.
L Brands Inc (NYSE LB) opened at $49.67 on Friday. L Brands Inc has a 1 year low of $35.00 and a 1 year 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. The company has a market cap of $14,020.00, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.39 and a beta of 0.81.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. sell-side analysts forecast that L Brands Inc will post 3.12 earnings per share for the current year.
L Brands announced that its Board of Directors has authorized a share buyback program on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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L Brands 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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