Hennessy Advisors Inc. boosted its stake in L Brands, Inc. (NYSE:LB) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,500 shares of the specialty retailer’s stock after acquiring an additional 1,300 shares during the quarter. Hennessy Advisors Inc.’s holdings in L Brands were worth $1,436,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of LB. First Personal Financial Services increased its stake in L Brands by 127.7% in the 2nd quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 1,096 shares during the last quarter. IFP Advisors Inc increased its stake in L Brands by 52.1% in the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after buying an additional 1,618 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its stake in L Brands by 11.2% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 375 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in L Brands in the 3rd quarter valued at $208,000. Finally, Summit Financial Strategies Inc. acquired a new stake in L Brands in the 2nd quarter valued at $214,000. 80.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of L Brands, Inc. (LB) traded up $1.41 during trading on Friday, hitting $49.66. 4,457,700 shares of the stock were exchanged, compared to its average volume of 4,066,495. L Brands, Inc. has a 12 month low of $35.00 and a 12 month high of $75.50. The company has a debt-to-equity ratio of -6.25, a quick ratio of 1.05 and a current ratio of 1.68. The company has a market cap of $14,095.79, a P/E ratio of 15.23, a PEG ratio of 1.38 and a beta of 0.67.
L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. equities analysts predict that L Brands, Inc. will post 3.11 earnings per share for the current year.
L Brands announced that its Board of Directors has authorized a share buyback program on Monday, September 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.83%. L Brands’s dividend payout ratio (DPR) is presently 70.38%.
Several equities research analysts have issued reports on LB shares. Jefferies Group LLC set a $32.00 price target on shares of L Brands and gave the company a “sell” rating in a research note on Wednesday, July 19th. Nomura lifted their price target on shares of L Brands from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. BidaskClub lowered shares of L Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Oppenheimer Holdings, Inc. set a $55.00 price target on shares of L Brands and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Cowen and Company set a $40.00 price target on shares of L Brands and gave the company a “buy” rating in a research note on Friday, August 18th. Six equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have assigned a buy rating to the company. L Brands presently has an average rating of “Hold” and an average price target of $46.75.
In other news, Director Allan R. Tessler purchased 20,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was bought at an average price of $37.00 per share, with a total value of $740,000.00. Following the acquisition, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.68% of the company’s stock.
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L Brands 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.
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