Hsbc Holdings PLC Sells 11,948 Shares of Victoria’s Secret & Co. $VSXY

Hsbc Holdings PLC cut its stake in Victoria’s Secret & Co. (NYSE:VSXYFree Report) by 45.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,399 shares of the company’s stock after selling 11,948 shares during the quarter. Hsbc Holdings PLC’s holdings in Victoria’s Secret & Co. were worth $786,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Bbfit Investments PTE Ltd. bought a new stake in shares of Victoria’s Secret & Co. in the fourth quarter valued at about $558,521,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Victoria’s Secret & Co. during the fourth quarter worth about $87,786,000. Marshall Wace LLP grew its holdings in shares of Victoria’s Secret & Co. by 301.4% during the fourth quarter. Marshall Wace LLP now owns 1,792,727 shares of the company’s stock worth $97,112,000 after buying an additional 1,346,104 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Victoria’s Secret & Co. by 1,454.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,045,465 shares of the company’s stock valued at $56,634,000 after buying an additional 978,194 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Victoria’s Secret & Co. in the 3rd quarter valued at approximately $20,870,000. Institutional investors own 90.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on VSXY. UBS Group cut Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and boosted their target price for the company from $81.00 to $90.00 in a research note on Wednesday, June 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $99.00 price objective on shares of Victoria’s Secret & Co. in a report on Monday, July 6th. Telsey Advisory Group boosted their price objective on shares of Victoria’s Secret & Co. from $71.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. TD Cowen boosted their price objective on shares of Victoria’s Secret & Co. from $50.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group increased their target price on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. One investment 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. According to MarketBeat, Victoria’s Secret & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

Get Our Latest Stock Analysis on Victoria’s Secret & Co.

Victoria’s Secret & Co. Stock Up 3.2%

VSXY stock opened at $81.50 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.26 and a debt-to-equity ratio of 1.17. The business has a 50 day moving average price of $67.58 and a two-hundred day moving average price of $59.14. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 43.82, a P/E/G ratio of 0.62 and a beta of 2.07. Victoria’s Secret & Co. has a twelve month low of $17.53 and a twelve month high of $88.57.

Victoria’s Secret & Co. (NYSE:VSXYGet Free Report) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.31. Victoria’s Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm earned $0.09 EPS. Analysts anticipate that Victoria’s Secret & Co. will post 4.65 EPS for the current fiscal year.

Insider Buying and Selling at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the transaction, the insider directly owned 9,202,959 shares in the company, valued at approximately $737,249,045.49. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,411,601 shares of company stock valued at $115,398,210 over the last three months. 0.52% of the stock is currently owned by company insiders.

Victoria’s Secret & Co. Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Victoria's Secret & Co. (NYSE:VSXY)

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