L Brands, Inc. (LB) Receives Neutral Rating from Wedbush
L Brands, Inc. (LB) Receives Neutral Rating from Wedbush
L Brands' same-store sales flat, lowers 2017 outlook
27 February, 2017, 01:05
L Brands' comparable sales were especially strong over the period, despite the company's decision to stop selling its swim and apparel business that carries the Victoria's Secret brand with it. TIAA CREF Investment Management LLC now owns 667,246 shares of the company's stock valued at $47,221,000 after buying an additional 9,734 shares in the last quarter. Three Peaks Capital Management LLC boosted its position in shares of L Brands by 3.3% in the third quarter.
Hedge funds and other institutional investors own 74.20% of the company's stock. First Trust Advisors LP raised its stake in shares of L Brands by 23.3% in the third quarter. Mizuho cut shares of L Brands from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $85.00 to $70.00 in a report on Tuesday, November 1st.
"Wedbush Reiterates "Neutral" Rating for L Brands, Inc". Three Peaks Capital Management LLC now owns 73,364 shares of the company's stock worth $5,192,000 after buying an additional 2,364 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in shares of L Brands by 1.0% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of L Brands by 0.4% in the fourth quarter. Finally, Advisor Group Inc. bought a new position in Dunkin' Brands Group during the second quarter valued at approximately $171,000. The Company now has Insider ownership of 15.45 Percent and Institutional Ownership of 77.2 Percent.
Shares of Dunkin' Brands Group Inc. L Brands has a 12-month low of $47.93 and a 12-month high of $88.77.
The 50 day moving average of L Brands Inc (NYSE:LB) is 60.04 whilst its 200 day moving average is 68.8. The stock has a market capitalization of $14.58 billion, a P/E ratio of 12.81 and a beta of 0.82.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, February 22nd.
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The apparel retailer's earnings call started off well as it reported earnings of $2.03 per share, excluding certain items for the company's fiscal fourth quarter of 2016.
However, revenue was slightly underwhelming as L Brands raked in $4.49 billion over the course of its holiday period. Dunkin' Brands Group had a negative return on equity of 95.96% and a net margin of 15.98%. The company's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.15 EPS.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Friday, February 17th will be issued a $0.60 dividend. The ex-dividend date was Thursday, November 17th. L Brands' guidance, however, left something to be desired. This was impacted by different factors, such as a pre-tax gain of $108.3 million related to a cash distribution from Easton Town Center, and a pre-tax charge of $35.8 million related to the early extinguishment of the company's July 2017 notes. Citigroup Inc. upgraded shares of L Brands from a neutral rating to a buy rating and increased their price target for the stock from $74.00 to $84.00 in a research note on Monday, November 14th. Finally, FBR & Co set a $75.00 target price on shares of L Brands and gave the company a "hold" rating in a research report on Wednesday, November 2nd. Argus restated a "buy" rating on shares of Dunkin' Brands Group in a report on Thursday, October 27th.
On Friday Telsey Advisory Group reiterated its target price on L Brands Inc (NYSE:LB) shares issuing the company with a "Outperform" rating. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company.
Many research firms have provided their ratings on L Brands, Inc. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Quadrant Capital Group LLC now owns 2,365 shares of the company's stock valued at $161,000 after buying an additional 139 shares during the last quarter. The Company franchises restaurants under its Dunkin' Donuts and Baskin-Robbins brands.
Looking ahead, the company expects the exit of these categories at Victoria's Secret, continued investment in China and investment in real estate at Victoria's Secret and Bath & Body Works to continue taking their toll.
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