L Brands Inc (NYSE:LB) CFO Stuart B. Burgdoerfer sold 17,000 shares of the company’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $39.56, for a total transaction of $672,520.00. Following the transaction, the chief financial officer now owns 52,640 shares in the company, valued at $2,082,438.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of LB stock traded down $0.85 on Friday, hitting $37.51. 3,505,990 shares of the company traded hands, compared to its average volume of 5,520,058. 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 stock has a market capitalization of $10,827.69, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.05 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.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. The business had revenue of $4.82 billion for 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 96.25%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.03 earnings per share. equities research analysts expect that L Brands Inc will post 3.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Thursday, February 22nd. L Brands’s payout ratio is 69.77%.
L Brands declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 8th that permits the company to buyback $226.90 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in L Brands by 182.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 1,364 shares during the period. Gradient Investments LLC purchased a new position in L Brands during the fourth quarter worth approximately $153,000. Steward Partners Investment Advisory LLC purchased a new position in shares of L Brands in the 3rd quarter valued at $161,000. Sciencast Management LP purchased a new position in shares of L Brands in the 4th quarter valued at $202,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of L Brands in the 4th quarter valued at $202,000. 81.06% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on LB. Robert W. Baird restated a “hold” rating and set a $60.00 target price on shares of L Brands in a research report on Friday, December 22nd. BMO Capital Markets set a $56.00 target price on shares of L Brands and gave the stock a “hold” rating in a research report on Tuesday, December 19th. Telsey Advisory Group upped their target price on shares of L Brands from $64.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 2nd. Morgan Stanley restated an “overweight” rating and set a $70.00 target price on shares of L Brands in a research report on Thursday, December 14th. Finally, CIBC restated a “hold” rating and set a $60.00 target price on shares of L Brands in a research report on Friday, December 8th. Six analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $50.24.
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About L Brands
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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