L Brands Inc. (LB) Sees Unusually-High Trading Volume
Shares of L Brands Inc. (NYSE:LB) saw strong trading volume on Thursday . 2,215,769 shares changed hands during trading, a decline of 5% from the previous session’s volume of 2,324,070 shares.The stock last traded at $67.86 and had previously closed at $68.47.
A number of equities research analysts have recently weighed in on the stock. MKM Partners reaffirmed a “buy” rating on shares of L Brands in a research note on Saturday, April 9th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of L Brands in a research note on Saturday, June 4th. Cowen and Company reaffirmed a “buy” rating on shares of L Brands in a research note on Sunday, May 22nd. Goldman Sachs Group Inc. reaffirmed a “hold” rating on shares of L Brands in a research note on Sunday, May 22nd. Finally, FBR & Co reaffirmed a “hold” rating on shares of L Brands in a research note on Sunday, May 22nd. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $74.47.
The company has a market capitalization of $19.39 billion and a PE ratio of 17.26. The firm has a 50-day moving average price of $67.46 and a 200 day moving average price of $80.95.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 18th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.04. During the same period in the prior year, the firm earned $0.61 earnings per share. The company earned $2.61 billion during the quarter. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts expect that L Brands Inc. will post $3.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.56%. This is an increase from L Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Wednesday, June 1st.
In other L Brands news, Director Allan R. Tessler purchased 3,500 shares of L Brands stock in a transaction on Friday, June 24th. The stock was bought at an average cost of $67.92 per share, with a total value of $237,720.00. Following the transaction, the director now owns 54,116 shares of the company’s stock, valued at approximately $3,675,558.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas Coe sold 28,444 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $64.59, for a total transaction of $1,837,197.96. Following the transaction, the chief executive officer now directly owns 9,333 shares of the company’s stock, valued at $602,818.47. The disclosure for this sale can be found here.
A number of institutional investors have bought and sold shares of LB. Profund Advisors LLC raised its position in L Brands by 14.9% in the fourth quarter. Profund Advisors LLC now owns 10,641 shares of the company’s stock worth $1,020,000 after buying an additional 1,380 shares in the last quarter. I.G. Investment Management LTD. raised its position in L Brands by 37.0% in the fourth quarter. I.G. Investment Management LTD. now owns 11,159 shares of the company’s stock worth $1,069,000 after buying an additional 3,016 shares in the last quarter. Davy Asset Management Ltd acquired a new position in L Brands during the fourth quarter worth about $1,301,000. Tortoise Investment Management LLC raised its position in L Brands by 0.7% in the fourth quarter. Tortoise Investment Management LLC now owns 13,800 shares of the company’s stock worth $1,322,000 after buying an additional 100 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in L Brands by 104.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 15,043 shares of the company’s stock worth $1,441,000 after buying an additional 7,701 shares in the last quarter.
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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