Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $75.00 target price on shares of L Brands in a report on Thursday, July 7th. Vetr raised shares of L Brands from a hold rating to a buy rating and set a $72.74 target price on the stock in a report on Wednesday, June 29th. Deutsche Bank AG reaffirmed a buy rating on shares of L Brands in a report on Sunday, July 10th. Goldman Sachs Group Inc. raised shares of L Brands from a neutral rating to a buy rating and upped their target price for the company from $73.00 to $94.00 in a report on Monday, August 22nd. Finally, Zacks Investment Research raised shares of L Brands from a hold rating to a buy rating and set a $87.00 target price on the stock in a report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $77.95.
L Brands (NYSE:LB) traded up 0.10% during midday trading on Friday, reaching $71.23. The company had a trading volume of 2,627,988 shares. The firm has a market capitalization of $20.37 billion, a P/E ratio of 17.36 and a beta of 0.91. The stock’s 50 day moving average price is $73.51 and its 200-day moving average price is $73.30. L Brands has a one year low of $60.00 and a one year high of $101.11.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The company earned $2.89 billion during the quarter. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that L Brands will post $3.83 earnings per share for the current year.
In other L Brands news, 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 value of $334,341.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martin P. Waters sold 45,500 shares of L Brands stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the sale, the insider now directly owns 13,970 shares of the company’s stock, valued at $1,082,535.30. The disclosure for this sale can be found here. Corporate insiders own 16.45% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. American International Group Inc. increased its stake in L Brands by 5,516.4% in the second quarter. American International Group Inc. now owns 5,959,135 shares of the company’s stock valued at $400,037,000 after buying an additional 5,853,032 shares during the period. Jackson Square Partners LLC boosted its position in shares of L Brands by 39.0% in the second quarter. Jackson Square Partners LLC now owns 7,415,981 shares of the company’s stock worth $497,834,000 after buying an additional 2,082,149 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of L Brands during the second quarter worth about $93,181,000. Flossbach Von Storch AG boosted its position in shares of L Brands by 428.2% in the second quarter. Flossbach Von Storch AG now owns 1,686,624 shares of the company’s stock worth $113,223,000 after buying an additional 1,367,300 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock worth $232,522,000 after buying an additional 1,358,509 shares in the last quarter. 75.60% of the stock is owned by hedge funds and other institutional investors.
L Brands Company Profile
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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