L Brands, Inc. Same-Store Sales Down 7% in July, Stock Drops by 2% (NYSE:LB)

L Brands’ (NYSE:LB) same-store sales decreased by 7% in the month of July. L Brands’ stock fell by 2% in the first day of trading following the news.

Several research firms have issued reports on LB. BMO Capital Markets set a $44.00 target price on shares of L Brands and gave the stock a “hold” rating in a research note on Tuesday, August 8th. UBS AG lowered their target price on shares of L Brands from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, August 4th. Jefferies Group LLC reiterated an “underperform” rating and issued a $32.00 target price on shares of L Brands in a research note on Wednesday. BidaskClub cut shares of L Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Buckingham Research lowered their target price on shares of L Brands from $62.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $55.76.

In other news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $48.88, for a total value of $1,947,330.32. Following the completion of the sale, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 16.45% of the company’s stock.

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Shares of L Brands (NYSE LB) opened at 40.88 on Friday. L Brands has a 52-week low of $40.77 and a 52-week high of $79.67. The stock has a market capitalization of $11.73 billion, a PE ratio of 10.77 and a beta of 0.62. The stock has a 50 day moving average of $46.63 and a 200 day moving average of $50.65.

L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.46 billion. L Brands had a net margin of 8.87% and a negative return on equity of 104.19%. The business’s revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.59 EPS. Analysts forecast that L Brands will post $3.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.87%. L Brands’s payout ratio is 63.16%.

Several large investors have recently modified their holdings of LB. First Personal Financial Services boosted its stake in shares of L Brands by 127.7% in the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,096 shares during the last quarter. FNY Partners Fund LP purchased a new stake in shares of L Brands during the first quarter worth approximately $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of L Brands during the first quarter worth approximately $142,000. IFP Advisors Inc boosted its stake in shares of L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock worth $148,000 after buying an additional 529 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of L Brands by 23.1% in the first quarter. Prospera Financial Services Inc now owns 4,632 shares of the specialty retailer’s stock worth $200,000 after buying an additional 868 shares during the last quarter. 75.43% of the stock is currently owned by institutional investors and hedge funds.

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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