Traders Buy Shares of L Brands Inc. (LB) on Weakness
Traders bought shares of L Brands Inc. (NYSE:LB) on weakness during trading on Friday. $65.17 million flowed into the stock on the tick-up and $48.47 million flowed out of the stock on the tick-down, for a money net flow of $16.70 million into the stock. Of all companies tracked, L Brands had the 24th highest net in-flow for the day. L Brands traded down ($0.11) for the day and closed at $77.76
A number of research firms recently weighed in on LB. Nomura reissued a “hold” rating on shares of L Brands in a report on Saturday, July 9th. Credit Suisse Group AG reissued a “hold” rating on shares of L Brands in a report on Saturday, June 4th. Goldman Sachs Group Inc. reissued a “hold” rating on shares of L Brands in a report on Sunday, May 22nd. FBR & Co reissued a “hold” rating on shares of L Brands in a report on Sunday, May 22nd. Finally, Cowen and Company reissued a “buy” rating on shares of L Brands in a report on Sunday, May 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $76.71.
The firm has a market capitalization of $22.36 billion and a price-to-earnings ratio of 18.95. The company has a 50 day moving average of $72.09 and a 200-day moving average of $76.31.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. During the same period last year, the firm posted $0.68 EPS. The business had revenue of $2.89 billion for the quarter. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that L Brands Inc. will post $3.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 19th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, August 17th.
In other news, CEO Nicholas Coe sold 4,951 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $67.53, for a total value of $334,341.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allan R. Tessler acquired 3,500 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was purchased at an average price of $67.92 per share, with a total value of $237,720.00. Following the completion of the acquisition, the director now directly owns 54,116 shares in the company, valued at approximately $3,675,558.72. The disclosure for this purchase can be found here.
Other large investors recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in L Brands by 37.0% in the fourth quarter. US Bancorp DE now owns 22,392 shares of the company’s stock worth $2,145,000 after buying an additional 6,051 shares during the period. KBC Group NV raised its stake in L Brands by 119.7% in the fourth quarter. KBC Group NV now owns 64,603 shares of the company’s stock worth $6,190,000 after buying an additional 35,194 shares during the period. State of Tennessee Treasury Department raised its stake in L Brands by 46.6% in the fourth quarter. State of Tennessee Treasury Department now owns 181,836 shares of the company’s stock worth $17,424,000 after buying an additional 57,836 shares during the period. Finally, BlackRock Advisors LLC raised its stake in L Brands by 48.1% in the fourth quarter. BlackRock Advisors LLC now owns 196,505 shares of the company’s stock worth $18,829,000 after buying an additional 63,796 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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