L Brands (LB) Upgraded to Buy at Northcoast Research
Northcoast Research upgraded shares of L Brands (NYSE:LB) from a neutral rating to a buy rating in a report published on Wednesday morning, Marketbeat.com reports.
Several other research analysts also recently commented on the stock. BMO Capital Markets set a $56.00 price target on shares of L Brands and gave the company a hold rating in a report on Tuesday, December 19th. Morgan Stanley restated an overweight rating and set a $70.00 price objective on shares of L Brands in a research report on Thursday, December 14th. Royal Bank of Canada upgraded shares of L Brands from a sector perform rating to an outperform rating and raised their price objective for the company from $40.00 to $58.00 in a research report on Friday, November 17th. B. Riley set a $58.00 price objective on shares of L Brands and gave the company a buy rating in a research report on Thursday, November 16th. Finally, Robert W. Baird set a $60.00 price objective on shares of L Brands and gave the company a hold rating in a research report on Thursday, December 28th. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $51.86.
L Brands (NYSE LB) opened at $49.11 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $63.10. The company has a market cap of $13,322.92, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.23 and a beta of 0.61.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.89%. L Brands’s dividend payout ratio is presently 72.95%.
In other news, Director David T. Kollat bought 9,910 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the purchase, the director now owns 158,878 shares in the company, valued at approximately $7,997,918.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 16.68% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Fosun International Ltd lifted its stake in shares of L Brands by 205.4% in the third quarter. Fosun International Ltd now owns 532,022 shares of the specialty retailer’s stock worth $22,137,000 after buying an additional 357,797 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of L Brands by 4.0% during the third 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 during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of L Brands by 31.0% during the third 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 during the last quarter. California Public Employees Retirement System raised its holdings in shares of L Brands by 7.0% during the third 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 during the last quarter. Finally, Private Capital Management Inc. raised its holdings in shares of L Brands by 26.4% during the third quarter. Private Capital Management Inc. now owns 12,700 shares of the specialty retailer’s stock valued at $528,000 after purchasing an additional 2,650 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.
TRADEMARK VIOLATION WARNING: This article was originally published by Daily Political and is the property of of Daily Political. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.dailypolitical.com/2018/02/08/l-brands-lb-upgraded-to-buy-at-northcoast-research.html.
L Brands Company Profile
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.
Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.