L Brands Inc (NYSE:LB) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 12,290,000 shares, a decrease of 9.8% from the August 31st total of 13,620,000 shares. Approximately 5.3% of the company’s shares are short sold. Based on an average trading volume of 6,050,000 shares, the short-interest ratio is currently 2.0 days.
A number of analysts have issued reports on LB shares. Bank of America boosted their target price on L Brands from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Citigroup lowered L Brands from a “neutral” rating to a “sell” rating and boosted their target price for the company from $15.00 to $17.00 in a research report on Thursday, July 30th. Zacks Investment Research raised L Brands from a “strong sell” rating to a “hold” rating and set a $20.00 target price on the stock in a research report on Tuesday, July 28th. BMO Capital Markets boosted their target price on L Brands from $25.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company boosted their target price on L Brands from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. L Brands has a consensus rating of “Hold” and an average target price of $27.55.
In related news, insider James L. Bersani sold 28,373 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $30.00, for a total value of $851,190.00. Following the transaction, the insider now directly owns 242,339 shares in the company, valued at $7,270,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.83% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of L Brands by 23,800.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,801 shares of the specialty retailer’s stock worth $553,000 after buying an additional 47,601 shares during the period. Hussman Strategic Advisors Inc. boosted its stake in shares of L Brands by 23.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 61,500 shares of the specialty retailer’s stock worth $921,000 after buying an additional 11,500 shares during the period. Geode Capital Management LLC boosted its stake in shares of L Brands by 1.3% during the first quarter. Geode Capital Management LLC now owns 4,014,514 shares of the specialty retailer’s stock worth $46,468,000 after buying an additional 50,599 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of L Brands during the second quarter worth about $6,688,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of L Brands by 17.6% during the first quarter. The Manufacturers Life Insurance Company now owns 256,936 shares of the specialty retailer’s stock worth $2,970,000 after buying an additional 38,383 shares during the period. Institutional investors own 76.89% of the company’s stock.
NYSE LB traded down $0.09 during trading hours on Friday, hitting $33.13. The company had a trading volume of 2,814,351 shares, compared to its average volume of 8,719,637. L Brands has a 1-year low of $8.00 and a 1-year high of $33.46. The company has a market cap of $9.21 billion, a PE ratio of -11.58, a price-to-earnings-growth ratio of 1.81 and a beta of 1.64. The business has a 50 day moving average of $29.59 and a 200-day moving average of $18.95.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, August 19th. The specialty retailer reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.67. L Brands had a negative net margin of 6.96% and a negative return on equity of 19.91%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. L Brands’s revenue for the quarter was down 20.1% on a year-over-year basis. On average, sell-side analysts predict that L Brands will post 1.24 earnings per share for the current year.
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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