L Brands Inc. (LB) Trading 2.5% Higher
L Brands Inc. (NYSE:LB)’s share price traded up 2.5% during mid-day trading on Monday . The stock traded as high as $74.65 and last traded at $73.46, with a volume of 1,831,282 shares trading hands. The stock had previously closed at $71.66.
Several equities analysts recently issued reports on the stock. Cowen and Company cut their price objective on shares of L Brands from $81.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, May 20th. Goldman Sachs Group Inc. lowered shares of L Brands from a “buy” rating to a “neutral” rating and cut their price objective for the company from $115.00 to $91.00 in a report on Tuesday, April 12th. Telsey Advisory Group lifted their price objective on shares of L Brands from $95.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 6th. MKM Partners reissued a “buy” rating on shares of L Brands in a report on Saturday, April 9th. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating and set a $75.00 price objective on shares of L Brands in a report on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.02.
The company has a 50 day moving average price of $68.93 and a 200-day moving average price of $78.57. The company has a market capitalization of $21.15 billion and a price-to-earnings ratio of 18.83.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, May 18th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. During the same quarter last year, the business earned $0.61 earnings per share. The company earned $2.61 billion during the quarter. L Brands’s revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that L Brands Inc. will post $3.72 EPS for the current fiscal year.
In related news, Director Allan R. Tessler bought 3,500 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The shares were purchased at an average cost of $67.92 per share, with a total value of $237,720.00. Following the transaction, the director now directly owns 54,116 shares of the company’s stock, valued at approximately $3,675,558.72. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Nicholas Coe sold 4,951 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $67.53, for a total transaction of $334,341.03. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. OppenheimerFunds Inc. increased its position in L Brands by 25.3% in the fourth quarter. OppenheimerFunds Inc. now owns 226,300 shares of the company’s stock worth $21,690,000 after buying an additional 45,640 shares during the period. GAM Holding AG increased its position in L Brands by 9.1% in the fourth quarter. GAM Holding AG now owns 27,035 shares of the company’s stock worth $2,590,000 after buying an additional 2,246 shares during the period. BOKF NA increased its position in L Brands by 27.8% in the fourth quarter. BOKF NA now owns 27,668 shares of the company’s stock worth $2,651,000 after buying an additional 6,013 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in L Brands by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,641 shares of the company’s stock worth $1,595,000 after buying an additional 133 shares during the period. Finally, Gulf International Bank UK Ltd increased its position in L Brands by 3.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 71,603 shares of the company’s stock worth $6,861,000 after buying an additional 2,370 shares during the period.
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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