Traders Buy Large Volume of Put Options on L Brands (LB)

L Brands, Inc. (NYSE:LB) saw some unusual options trading on Monday. Traders acquired 7,919 put options on the stock. This is an increase of approximately 320% compared to the average volume of 1,885 put options.

Shares of L Brands (LB) opened at 36.20 on Friday. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 10.63 and a beta of 0.62. L Brands has a 52 week low of $35.00 and a 52 week high of $79.67. The firm’s 50-day moving average price is $44.42 and its 200-day moving average price is $49.87.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.04% and a net margin of 8.04%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts expect that L Brands will post $3.17 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.40 annualized dividend and a dividend yield of 6.63%. L Brands’s dividend payout ratio is presently 70.38%.

Institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its position in L Brands by 6.5% in the fourth quarter. Teachers Advisors LLC now owns 298,408 shares of the specialty retailer’s stock valued at $19,647,000 after buying an additional 18,142 shares during the period. Lincoln National Corp boosted its position in L Brands by 51.5% in the first quarter. Lincoln National Corp now owns 35,412 shares of the specialty retailer’s stock valued at $1,668,000 after buying an additional 12,045 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in L Brands by 344.0% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 23,975 shares of the specialty retailer’s stock valued at $1,129,000 after buying an additional 18,575 shares during the period. Hennessy Advisors Inc. purchased a new position in L Brands during the first quarter valued at approximately $1,681,000. Finally, Coronation Fund Managers Ltd. boosted its position in L Brands by 18.1% in the second quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock valued at $52,045,000 after buying an additional 148,076 shares during the period. 75.20% of the stock is owned by hedge funds and other institutional investors.

LB has been the topic of several research reports. Buckingham Research reissued a “buy” rating on shares of L Brands in a report on Wednesday, April 26th. FBR & Co reissued an “outperform” rating and issued a $60.00 target price on shares of L Brands in a report on Thursday, July 27th. Jefferies Group LLC set a $35.00 target price on L Brands and gave the company a “sell” rating in a report on Tuesday, July 4th. Credit Suisse Group set a $47.00 price objective on L Brands and gave the company a “hold” rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG decreased their price objective on L Brands from $62.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, May 5th. Six 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’s stock. The company presently has an average rating of “Hold” and a consensus target price of $51.29.

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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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