Insider Selling: L Brands Inc (LB) CFO Sells 33,000 Shares of Stock

L Brands Inc (NYSE:LB) CFO Stuart B. Burgdoerfer sold 33,000 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total transaction of $1,403,490.00. Following the completion of the transaction, the chief financial officer now directly owns 69,640 shares in the company, valued at $2,961,789.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of L Brands Inc (NYSE LB) traded down $0.85 during midday trading on Friday, reaching $37.51. 3,498,278 shares of the company were exchanged, compared to its average volume of 4,832,195. 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 market capitalization of $11,126.89, a P/E ratio of 10.91, a PEG ratio of 1.08 and a beta of 0.59. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.06. L Brands had a net margin of 7.78% and a negative return on equity of 96.25%. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the firm earned $2.03 earnings per share. L Brands’s quarterly revenue was up 7.4% on a year-over-year basis. analysts anticipate that L Brands Inc will post 3.17 earnings per share for the current year.

L Brands announced that its board has authorized a stock repurchase plan on Thursday, March 8th that authorizes the company to repurchase $226.90 million in shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 6.40%. The ex-dividend date was Thursday, February 22nd. L Brands’s dividend payout ratio (DPR) is currently 69.77%.

Several research analysts have recently commented on LB shares. Credit Suisse Group started coverage on shares of L Brands in a report on Monday, March 12th. They set a “neutral” rating and a $45.00 target price on the stock. Zacks Investment Research raised shares of L Brands from a “sell” rating to a “hold” rating in a report on Tuesday. Scotiabank reiterated a “hold” rating and set a $59.00 price target on shares of L Brands in a research report on Wednesday, January 17th. Citigroup reiterated a “hold” rating and set a $58.00 price target on shares of L Brands in a research report on Friday, January 5th. Finally, Barclays increased their price target on shares of L Brands from $44.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Six research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. L Brands has an average rating of “Hold” and a consensus target price of $50.24.

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its stake in L Brands by 182.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,364 shares in the last quarter. Gradient Investments LLC bought a new stake in L Brands in the fourth quarter valued at $153,000. Belpointe Asset Management LLC bought a new stake in L Brands in the fourth quarter valued at $202,000. Check Capital Management Inc. CA bought a new stake in L Brands in the fourth quarter valued at $205,000. Finally, St. Louis Trust Co bought a new stake in L Brands in the fourth quarter valued at $211,000. 81.06% of the stock is owned by hedge funds and other institutional investors.

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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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