L Brands (LB) Downgraded by Telsey Advisory Group
Telsey Advisory Group lowered shares of L Brands (NYSE:LB) from an outperform rating to a market perform rating in a research report released on Thursday morning, Marketbeat.com reports. The firm currently has $52.00 price objective on the specialty retailer’s stock, down from their previous price objective of $70.00.
A number of other research analysts also recently issued reports on LB. Deutsche Bank dropped their price target on L Brands from $67.00 to $65.00 and set a buy rating on the stock in a research note on Monday, February 26th. B. Riley restated a buy rating and set a $58.00 price target on shares of L Brands in a research note on Wednesday, November 29th. UBS Group raised their price target on L Brands from $40.00 to $47.00 and gave the stock a neutral rating in a research note on Monday, November 6th. Robert W. Baird restated a hold rating and set a $44.00 price target on shares of L Brands in a research note on Wednesday, November 1st. Finally, Scotiabank restated a hold rating and set a $67.00 price target on shares of L Brands in a research note on Wednesday, November 22nd. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have given a buy rating to the company. L Brands has an average rating of Hold and a consensus price target of $50.58.
L Brands (NYSE LB) traded up $0.74 on Thursday, hitting $44.09. The stock had a trading volume of 465,075 shares, compared to its average volume of 4,841,819. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $63.10. The stock has a market cap of $12,236.20, a P/E ratio of 12.76, a P/E/G ratio of 1.20 and a beta of 0.59. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.40 annualized dividend and a dividend yield of 5.44%. L Brands’s dividend payout ratio is currently 69.77%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. HPM Partners LLC lifted its holdings in shares of L Brands by 16.0% in the 4th quarter. HPM Partners LLC now owns 8,274 shares of the specialty retailer’s stock valued at $498,000 after buying an additional 1,143 shares during the period. Profund Advisors LLC raised its holdings in L Brands by 17.9% during the fourth quarter. Profund Advisors LLC now owns 8,261 shares of the specialty retailer’s stock worth $497,000 after purchasing an additional 1,257 shares during the last quarter. Meadow Creek Investment Management LLC raised its holdings in L Brands by 14.6% during the fourth quarter. Meadow Creek Investment Management LLC now owns 9,912 shares of the specialty retailer’s stock worth $597,000 after purchasing an additional 1,260 shares during the last quarter. Hartford Investment Management Co. raised its holdings in L Brands by 1.5% during the third quarter. Hartford Investment Management Co. now owns 84,019 shares of the specialty retailer’s stock worth $3,496,000 after purchasing an additional 1,271 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in L Brands by 3.9% during the third quarter. Hennessy Advisors Inc. now owns 34,500 shares of the specialty retailer’s stock worth $1,436,000 after purchasing an additional 1,300 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.
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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.
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