Cowen reaffirmed their hold rating on shares of L Brands (NYSE:LB) in a research report report published on Thursday morning. The brokerage currently has a $49.00 price objective on the specialty retailer’s stock.
A number of other equities analysts have also recently issued reports on LB. Northcoast Research raised L Brands from a neutral rating to a buy rating in a report on Wednesday. B. Riley reaffirmed a buy rating and issued a $58.00 target price on shares of L Brands in a report on Wednesday, November 29th. UBS Group upped their target price on L Brands from $40.00 to $47.00 and gave the stock a neutral rating in a report on Monday, November 6th. Robert W. Baird reaffirmed a hold rating and issued a $44.00 target price on shares of L Brands in a report on Wednesday, November 1st. Finally, Scotiabank reissued a hold rating and issued a $67.00 price target on shares of L Brands in a research note on Wednesday, November 22nd. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $52.16.
Shares of L Brands (LB) traded up $0.95 on Thursday, reaching $48.72. The company’s stock had a trading volume of 129,985 shares, compared to its average volume of 4,764,869. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $63.10. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10. The firm has a market cap of $13,480.00, a PE ratio of 14.56, a PEG ratio of 1.28 and a beta of 0.61.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.93%. L Brands’s payout ratio is 73.17%.
In other L Brands news, Director David T. Kollat bought 9,910 shares of the business’s 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 in the company, valued at $7,997,918.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 16.68% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Fosun International Ltd boosted its position in shares of L Brands by 205.4% during the 3rd quarter. Fosun International Ltd now owns 532,022 shares of the specialty retailer’s stock valued at $22,137,000 after purchasing an additional 357,797 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in shares of L Brands by 4.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 855,019 shares of the specialty retailer’s stock valued at $35,577,000 after purchasing an additional 33,005 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of L Brands by 31.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,512 shares of the specialty retailer’s stock valued at $770,000 after purchasing an additional 4,378 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of L Brands by 7.0% during the 3rd quarter. California Public Employees Retirement System now owns 585,641 shares of the specialty retailer’s stock valued at $24,369,000 after purchasing an additional 38,141 shares in the last quarter. Finally, Private Capital Management Inc. boosted its holdings in L Brands by 26.4% in the third quarter. Private Capital Management Inc. now owns 12,700 shares of the specialty retailer’s stock worth $528,000 after acquiring an additional 2,650 shares in the last quarter. Institutional investors own 77.98% of the company’s stock.
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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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