Investors Buy L Brands Inc. (LB) on Weakness
Investors bought shares of L Brands Inc. (NYSE:LB) on weakness during trading hours 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
Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their price objective on shares of L Brands from $74.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday. RBC Capital Markets set a $82.00 price objective on shares of L Brands and gave the stock a “hold” rating in a research note on Friday. Stifel Nicolaus set a $90.00 price objective on shares of L Brands and gave the stock a “buy” rating in a research note on Friday. Wedbush boosted their price objective on shares of L Brands from $64.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Royal Bank Of Canada boosted their price objective on shares of L Brands from $75.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $76.71.
The company’s 50 day moving average price is $72.09 and its 200 day moving average price is $76.31. The firm has a market capitalization of $22.36 billion and a price-to-earnings ratio of 19.90.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The firm earned $2.89 billion during the quarter. L Brands’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, equities analysts anticipate that L Brands Inc. will post $3.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Investors of record on Friday, August 19th will be given a $0.60 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $2.40 dividend on an annualized basis and a yield of 3.09%.
In other news, Director Allan R. Tessler acquired 3,500 shares of the stock in a transaction that occurred on Friday, June 24th. The shares were purchased at an average cost of $67.92 per share, for a total transaction of $237,720.00. Following the transaction, the director now directly owns 54,116 shares in the company, valued at approximately $3,675,558.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas Coe sold 4,951 shares of L Brands 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 institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC raised its position 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. State of Tennessee Treasury Department raised its position 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. KBC Group NV raised its position 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. Finally, US Bancorp DE raised its position 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.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.