Victoria’s Secret & Co. (NYSE:VSXY – Get Free Report) shares rose 4.4% during trading on Wednesday . The company traded as high as $91.69 and last traded at $91.19. Approximately 155,677 shares changed hands during trading, a decline of 93% from the average daily volume of 2,136,758 shares. The stock had previously closed at $87.36.
Wall Street Analysts Forecast Growth
VSXY has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Victoria’s Secret & Co. from $57.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $99.00 target price on shares of Victoria’s Secret & Co. in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Victoria’s Secret & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 24th. TD Cowen raised their price target on shares of Victoria’s Secret & Co. from $75.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, August 18th. Finally, UBS Group boosted their price target on shares of Victoria’s Secret & Co. from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.70.
Read Our Latest Research Report on Victoria’s Secret & Co.
Victoria’s Secret & Co. Stock Down 1.3%
Victoria’s Secret & Co. (NYSE:VSXY – Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.29 by $0.31. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.52 billion. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. During the same period last year, the firm earned $0.09 EPS. As a group, research analysts anticipate that Victoria’s Secret & Co. will post 4.7 earnings per share for the current year.
Insiders Place Their Bets
In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $80.11, for a total value of $88,735,603.92. Following the transaction, the insider directly owned 9,202,959 shares in the company, valued at $737,249,045.49. This represents a 10.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 2,500,000 shares of company stock valued at $212,353,716. 0.52% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of VSXY. Bbfit Investments PTE Ltd. bought a new stake in Victoria’s Secret & Co. during the fourth quarter valued at approximately $558,521,000. California State Teachers Retirement System purchased a new stake in shares of Victoria’s Secret & Co. during the 2nd quarter valued at $571,660,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Victoria’s Secret & Co. during the 4th quarter worth $87,786,000. Marshall Wace LLP lifted its holdings in shares of Victoria’s Secret & Co. by 301.4% during the 4th quarter. Marshall Wace LLP now owns 1,792,727 shares of the company’s stock worth $97,112,000 after acquiring an additional 1,346,104 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Victoria’s Secret & Co. by 1,454.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,045,465 shares of the company’s stock worth $56,634,000 after acquiring an additional 978,194 shares in the last quarter. Hedge funds and other institutional investors own 90.29% of the company’s stock.
About Victoria’s Secret & Co.
Victoria’s Secret & Co is a leading designer, manufacturer and marketer of intimate apparel, beauty products and accessories for women. The company operates a portfolio of brands that includes Victoria’s Secret, renowned for its lingerie, bras and sleepwear; PINK, a line targeting younger consumers with activewear and lifestyle products; and Victoria’s Secret Beauty, offering fragrances, cosmetics and personal care items. Products are sold through retail stores as well as direct-to-consumer channels, including e-commerce platforms and mobile applications.
The origins of Victoria’s Secret date back to 1977, when founders Roy and Gaye Raymond opened the first store in San Francisco.
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