M&T Bank Corp lessened its holdings in L Brands Inc (NYSE:LB) by 15.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,443 shares of the specialty retailer’s stock after selling 2,425 shares during the quarter. M&T Bank Corp’s holdings in L Brands were worth $514,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in LB. Tower Research Capital LLC TRC grew its holdings in shares of L Brands by 182.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 1,364 shares during the last quarter. Camarda Financial Advisors LLC bought a new stake in shares of L Brands in the 1st quarter worth about $131,000. Gradient Investments LLC bought a new stake in shares of L Brands in the 4th quarter worth about $153,000. Sciencast Management LP bought a new stake in shares of L Brands in the 4th quarter worth about $202,000. Finally, Belpointe Asset Management LLC acquired a new position in L Brands during the 4th quarter worth about $202,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Donna James sold 1,000 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $35.29, for a total transaction of $35,290.00. Following the completion of the sale, the director now directly owns 19,738 shares of the company’s stock, valued at approximately $696,554.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stuart B. Burgdoerfer sold 17,000 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $39.56, for a total value of $672,520.00. Following the sale, the chief financial officer now directly owns 52,640 shares of the company’s stock, valued at $2,082,438.40. The disclosure for this sale can be found here. Corporate insiders own 17.32% of the company’s stock.
Shares of LB stock traded down $0.52 on Thursday, reaching $35.99. The company had a trading volume of 4,622,510 shares, compared to its average volume of 4,883,713. The company has a debt-to-equity ratio of -5.90, a current ratio of 1.56 and a quick ratio of 0.83. The stock has a market cap of $10.24 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.15 and a beta of 0.77. L Brands Inc has a 12 month low of $30.70 and a 12 month high of $63.10.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 23rd. The specialty retailer reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.59 billion. L Brands had a negative return on equity of 93.09% and a net margin of 7.30%. L Brands’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. research analysts anticipate that L Brands Inc will post 2.79 earnings per share for the current year.
L Brands announced that its board has initiated a share repurchase program on Thursday, March 8th that allows the company to buyback $226.90 million in shares. This buyback authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a $0.60 dividend. The ex-dividend date is Thursday, May 31st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.67%. L Brands’s dividend payout ratio (DPR) is presently 75.00%.
Several research analysts recently issued reports on the stock. Loop Capital downgraded shares of L Brands from a “hold” rating to a “sell” rating and set a $28.00 price target on the stock. in a research report on Thursday, May 10th. Piper Jaffray Companies reiterated a “neutral” rating and set a $30.00 price target on shares of L Brands in a research report on Thursday, May 24th. Credit Suisse Group assumed coverage on shares of L Brands in a research report on Monday, March 12th. They set a “neutral” rating and a $45.00 price target on the stock. Barclays reiterated a “hold” rating and set a $40.00 price target on shares of L Brands in a research report on Monday, April 30th. Finally, Citigroup upgraded shares of L Brands from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Monday, May 14th. They noted that the move was a valuation call. Eight analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. L Brands presently has an average rating of “Hold” and an average price target of $43.88.
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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