L Brands (LB) PT Raised to $64.00 at Telsey Advisory Group

L Brands (NYSE:LB) had its price target hoisted by Telsey Advisory Group from $60.00 to $64.00 in a research note published on Monday. They currently have an outperform rating on the specialty retailer’s stock.

A number of other equities analysts have also recently commented on the stock. Robert W. Baird set a $52.00 target price on shares of L Brands and gave the stock a hold rating in a research report on Friday, December 1st. B. Riley reiterated a buy rating and issued a $58.00 target price on shares of L Brands in a research report on Wednesday, November 29th. Scotiabank reiterated a hold rating and issued a $67.00 target price on shares of L Brands in a research report on Wednesday, November 22nd. Buckingham Research lifted their target price 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. Finally, BMO Capital Markets boosted their price objective on shares of L Brands to $49.00 and gave the company a market perform rating in a research report on Friday, November 17th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have given a buy rating to the stock. L Brands currently has a consensus rating of Hold and a consensus target price of $49.07.

Shares of L Brands (LB) opened at $55.10 on Monday. The stock has a market cap of $15,480.00, a price-to-earnings ratio of 17.61, a PEG ratio of 1.53 and a beta of 0.81. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $75.50. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of -5.10.

L Brands (NYSE:LB) last issued its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $2.62 billion for 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 firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. research analysts predict that L Brands will post 3.14 earnings per share for the current fiscal year.

L Brands declared that its Board of Directors has initiated a stock repurchase plan on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Wednesday, November 22nd. L Brands’s dividend payout ratio is currently 73.17%.

In related news, Director Allan R. Tessler purchased 20,000 shares of L Brands stock in a transaction that occurred on Thursday, September 21st. The shares were bought at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares of the company’s stock, valued at $1,603,654. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David T. Kollat purchased 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the transaction, the director now directly owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The disclosure for this purchase can be found here. 16.68% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Aviva PLC boosted its stake in L Brands by 5.7% during the second quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after acquiring an additional 7,635 shares in the last quarter. Victory Capital Management Inc. boosted its stake in L Brands by 14.3% during the second quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock worth $5,142,000 after acquiring an additional 11,967 shares in the last quarter. Swiss National Bank boosted its stake in L Brands by 2.8% during the second quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock worth $47,719,000 after acquiring an additional 24,300 shares in the last quarter. Bridgewater Associates LP boosted its stake in L Brands by 16.5% during the second quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock worth $4,398,000 after acquiring an additional 11,570 shares in the last quarter. Finally, Pring Turner Capital Group Inc. bought a new stake in L Brands during the second quarter worth about $2,689,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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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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