L Brands Inc (NYSE:LB) Short Interest Up 8.0% in September

L Brands Inc (NYSE:LB) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 21,580,000 shares, a growth of 8.0% from the August 30th total of 19,980,000 shares. Approximately 9.4% of the company’s shares are short sold. Based on an average daily volume of 5,600,000 shares, the short-interest ratio is currently 3.9 days.

Several equities analysts have commented on the stock. Wedbush reissued a “neutral” rating on shares of L Brands in a research report on Monday, August 19th. Guggenheim reissued a “hold” rating on shares of L Brands in a research report on Tuesday, September 10th. B. Riley set a $30.00 price target on shares of L Brands and gave the company a “buy” rating in a research report on Friday, August 23rd. Goldman Sachs Group set a $26.00 price target on shares of L Brands and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Credit Suisse Group reissued a “hold” rating and issued a $22.00 price target on shares of L Brands in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company’s stock. L Brands has an average rating of “Hold” and an average target price of $26.33.

Hedge funds have recently modified their holdings of the stock. First Mercantile Trust Co. acquired a new stake in shares of L Brands in the second quarter worth $32,000. NuWave Investment Management LLC increased its position in shares of L Brands by 757.8% in the third quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 1,690 shares in the last quarter. Strategic Blueprint LLC acquired a new stake in shares of L Brands in the third quarter worth $33,000. Phocas Financial Corp. acquired a new stake in shares of L Brands in the second quarter worth $41,000. Finally, Trustcore Financial Services LLC acquired a new stake in shares of L Brands in the second quarter worth $130,000. 69.84% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE LB traded up $0.22 on Thursday, hitting $18.03. The company’s stock had a trading volume of 2,485,876 shares, compared to its average volume of 5,015,704. L Brands has a 12-month low of $15.82 and a 12-month high of $38.00. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 6.39, a price-to-earnings-growth ratio of 0.63 and a beta of 0.81. The stock has a 50 day moving average of $17.95 and a 200-day moving average of $22.81.

L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that L Brands will post 2.4 earnings per share for the current fiscal year.

The company also recently disclosed a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.32 dividend. The ex-dividend date of this dividend was Monday, September 30th. L Brands’s dividend payout ratio is presently 42.55%.

About L Brands

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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