Robert W. Baird Analysts Give L Brands (LB) a $63.00 Price Target
A number of other research analysts also recently weighed in on the company. Telsey Advisory Group downgraded L Brands from an outperform rating to a market perform rating and lowered their price target for the company from $70.00 to $52.00 in a report on Thursday. Deutsche Bank reduced their price objective on L Brands from $67.00 to $65.00 and set a buy rating for the company in a research report on Monday, February 26th. Wolfe Research lifted their price objective on L Brands from $48.00 to $53.00 and gave the company a peer perform rating in a research report on Monday, February 12th. Cowen reissued a hold rating and set a $49.00 price objective on shares of L Brands in a research report on Thursday, February 8th. Finally, Northcoast Research raised L Brands from a neutral rating to a buy rating in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $50.58.
L Brands (NYSE LB) opened at $43.35 on Wednesday. L Brands has a twelve month low of $35.00 and a twelve month high of $63.10. 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 has a market capitalization of $12,240.00, a price-to-earnings ratio of 13.89, a PEG ratio of 1.14 and a beta of 0.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.40 annualized dividend and a dividend yield of 5.54%. L Brands’s dividend payout ratio is presently 76.92%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB increased its stake in L Brands by 7.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 44,304 shares of the specialty retailer’s stock valued at $2,668,000 after acquiring an additional 3,130 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in L Brands by 6.2% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 90,893 shares of the specialty retailer’s stock valued at $5,474,000 after acquiring an additional 5,278 shares during the period. Griffin Asset Management Inc. increased its stake in L Brands by 10.6% during the fourth quarter. Griffin Asset Management Inc. now owns 14,922 shares of the specialty retailer’s stock valued at $899,000 after acquiring an additional 1,425 shares during the period. Sawtooth Solutions LLC bought a new position in L Brands during the fourth quarter valued at about $1,026,000. Finally, We Are One Seven LLC bought a new position in L Brands during the fourth quarter valued at about $1,263,000. 80.36% of the stock is owned by institutional investors and hedge funds.
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About L Brands
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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