Shares of Victoria’s Secret & Co. (NYSE:VSXY – Get Free Report) traded up 5.6% during trading on Monday. The stock traded as high as $88.37 and last traded at $87.54. 194,832 shares changed hands during trading, a decline of 91% from the average session volume of 2,134,435 shares. The stock had previously closed at $82.91.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the company. TD Cowen lifted their price target on Victoria’s Secret & Co. from $75.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, August 18th. Barclays cut their price target on Victoria’s Secret & Co. from $108.00 to $106.00 and set an “overweight” rating on the stock in a research note on Friday, September 4th. Telsey Advisory Group boosted their target price on shares of Victoria’s Secret & Co. from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Morgan Stanley lifted their price objective on shares of Victoria’s Secret & Co. from $99.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Finally, Wall Street Zen downgraded Victoria’s Secret & Co. from a “buy” rating to a “hold” rating in a report on Monday, September 21st. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $89.00.
Victoria’s Secret & Co. Stock Up 7.9%
Victoria’s Secret & Co. (NYSE:VSXY – Get Free Report) last posted its earnings results on Thursday, September 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.18. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Victoria’s Secret & Co. had a net margin of 5.46% and a return on equity of 40.43%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Victoria’s Secret & Co. will post 4.69 earnings per share for the current fiscal year.
Insider Activity at Victoria’s Secret & Co.
In other news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total value of $71,223,718.00. Following the transaction, the insider owned 7,810,631 shares in the company, valued at $696,317,753.65. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Victoria’s Secret & Co.
A number of hedge funds have recently modified their holdings of VSXY. Bbfit Investments PTE Ltd. bought a new position in shares of Victoria’s Secret & Co. during the 4th quarter valued at $558,521,000. Goldman Sachs Group Inc. increased its position in Victoria’s Secret & Co. by 11.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,366 shares of the company’s stock worth $108,956,000 after purchasing an additional 199,170 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Victoria’s Secret & Co. by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,760,139 shares of the company’s stock valued at $95,365,000 after buying an additional 47,462 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Victoria’s Secret & Co. by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,943,417 shares of the company’s stock worth $90,066,000 after acquiring an additional 50,007 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Victoria’s Secret & Co. by 0.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,343,203 shares of the company’s stock worth $62,271,000 after buying an additional 12,238 shares during the last quarter. Hedge funds and other institutional investors own 90.29% of the company’s stock.
Victoria’s Secret & Co. Company Profile
Victoria’s Secret & Co is a specialty retailer focused on intimate apparel, lingerie, beauty products and related accessories. Its portfolio includes the Victoria’s Secret brand, which offers bras, panties, sleepwear, swimwear, apparel, fragrances and body-care products, and PINK, which targets younger consumers with lingerie, loungewear, apparel, beauty products and accessories.
The company also owns Adore Me, a digitally focused intimates brand offering lingerie and related apparel.
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