JPMorgan Chase & Co. Issues Positive Forecast for Victoria’s Secret & Co. (NYSE:VSXY) Stock Price

Victoria’s Secret & Co. (NYSE:VSXY) had its target price upped by analysts at JPMorgan Chase & Co. from $77.00 to $88.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 18.26% from the stock’s current price.

A number of other research firms have also recently weighed in on VSXY. UBS Group cut shares of Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and upped their price objective for the company from $81.00 to $90.00 in a research report on Wednesday. Wall Street Zen cut Victoria’s Secret & Co. from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 5th. Barclays increased their price target on Victoria’s Secret & Co. from $67.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group lowered Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and upped their target price for the company from $65.00 to $73.00 in a research report on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.60.

Victoria’s Secret & Co. Stock Down 0.3%

NYSE VSXY opened at $74.41 on Monday. The business has a 50 day moving average price of $51.60 and a two-hundred day moving average price of $52.87. Victoria’s Secret & Co. has a fifty-two week low of $17.53 and a fifty-two week high of $81.28. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 1.07. The stock has a market cap of $5.91 billion, a PE ratio of 40.01, a P/E/G ratio of 0.67 and a beta of 2.16.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.31. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.95%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, sell-side analysts predict that Victoria’s Secret & Co. will post 4.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 27,758 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $80.03, for a total transaction of $2,221,472.74. Following the sale, the insider directly owned 9,175,201 shares of the company’s stock, valued at approximately $734,291,336.03. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne Sheehan purchased 4,842 shares of Victoria’s Secret & Co. stock in a transaction dated Thursday, April 2nd. The stock was acquired at an average price of $45.86 per share, for a total transaction of $222,054.12. Following the completion of the transaction, the director owned 34,261 shares in the company, valued at approximately $1,571,209.46. The trade was a 16.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Victoria’s Secret & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its position in shares of Victoria’s Secret & Co. by 61.9% during the 1st quarter. Bank of America Corp DE now owns 632,358 shares of the company’s stock worth $29,316,000 after purchasing an additional 241,660 shares during the period. Edgestream Partners L.P. boosted its position in Victoria’s Secret & Co. by 113.9% during the 1st quarter. Edgestream Partners L.P. now owns 32,718 shares of the company’s stock valued at $1,517,000 after purchasing an additional 17,425 shares during the period. Janus Henderson Group PLC grew its stake in Victoria’s Secret & Co. by 3.5% during the 1st quarter. Janus Henderson Group PLC now owns 57,928 shares of the company’s stock worth $2,685,000 after buying an additional 1,974 shares during the last quarter. Amundi grew its stake in Victoria’s Secret & Co. by 28.8% during the 1st quarter. Amundi now owns 20,308 shares of the company’s stock worth $941,000 after buying an additional 4,537 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Victoria’s Secret & Co. by 23.5% in the first quarter. California State Teachers Retirement System now owns 84,333 shares of the company’s stock worth $3,910,000 after buying an additional 16,044 shares during the period. 90.29% of the stock is currently owned by institutional investors and hedge funds.

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.