L Brands (NYSE:LB) had its price objective lowered by Loop Capital from $15.00 to $14.00 in a research note released on Thursday morning, The Fly reports. The firm currently has a sell rating on the specialty retailer’s stock.
Other equities analysts also recently issued research reports about the stock. Morgan Stanley reduced their price objective on shares of L Brands from $34.00 to $18.00 and set an equal weight rating on the stock in a research note on Friday, August 23rd. Telsey Advisory Group reduced their price objective on shares of L Brands from $24.00 to $22.00 and set a market perform rating on the stock in a research note on Friday, August 23rd. Credit Suisse Group downgraded shares of L Brands from a neutral rating to an underperform rating and reduced their price objective for the company from $22.00 to $14.00 in a research note on Friday, October 18th. Guggenheim reissued a hold rating on shares of L Brands in a research note on Thursday. Finally, ValuEngine raised shares of L Brands from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $22.95.
Shares of LB stock traded up $0.84 during trading hours on Thursday, hitting $18.01. The company’s stock had a trading volume of 17,919,176 shares, compared to its average volume of 5,278,982. The business has a fifty day moving average of $17.59 and a 200-day moving average of $21.26. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 6.39, a P/E/G ratio of 0.63 and a beta of 0.77. L Brands has a twelve month low of $15.80 and a twelve month high of $34.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date is Thursday, November 21st. L Brands’s dividend payout ratio is currently 42.55%.
Large investors have recently bought and sold shares of the business. First Mercantile Trust Co. purchased a new position in L Brands during the second quarter worth approximately $32,000. NuWave Investment Management LLC raised its stake in L Brands by 757.8% during the third quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 1,690 shares during the period. Strategic Blueprint LLC purchased a new position in L Brands during the third quarter worth approximately $33,000. Phocas Financial Corp. purchased a new position in shares of L Brands in the 2nd quarter valued at $41,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of L Brands by 827.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,469 shares of the specialty retailer’s stock valued at $87,000 after acquiring an additional 3,987 shares during the period. 68.12% of the stock is currently owned by institutional investors.
L Brands Company Profile
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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