Victoria’s Secret & Co. (NYSE:VSXY) Trading 5.4% Higher – Here’s Why

Shares of Victoria’s Secret & Co. (NYSE:VSXY) rose 5.4% on Monday . The stock traded as high as $86.61 and last traded at $85.87. 300,197 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 2,242,520 shares. The stock had previously closed at $81.45.

Analyst Ratings Changes

VSXY has been the subject of a number of research analyst reports. UBS Group lowered shares of Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and increased their price objective for the company from $81.00 to $90.00 in a report on Wednesday, June 3rd. Bank of America upgraded shares of Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $68.00 in a research report on Wednesday, April 29th. Wall Street Zen cut shares of Victoria’s Secret & Co. from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 5th. Jefferies Financial Group downgraded shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and lifted their price target for the company from $65.00 to $73.00 in a report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Victoria’s Secret & Co. from $77.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.50.

Victoria’s Secret & Co. Price Performance

The firm has a market cap of $6.92 billion, a P/E ratio of 46.83, a PEG ratio of 0.68 and a beta of 2.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.26 and a quick ratio of 0.41. The stock’s 50-day simple moving average is $71.24 and its two-hundred day simple moving average is $60.19.

Victoria’s Secret & Co. (NYSE:VSXY) last released its earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.31. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.09 EPS. Equities research analysts forecast that Victoria’s Secret & Co. will post 4.65 earnings per share for the current fiscal year.

Insider Transactions at Victoria’s Secret & Co.

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $88.50, for a total transaction of $24,441,133.50. Following the completion of the transaction, the insider owned 8,899,030 shares in the company, valued at $787,564,155. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,411,601 shares of company stock valued at $115,398,210 over the last ninety days. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Several hedge funds and other institutional investors have recently modified their holdings of VSXY. Bbfit Investments PTE Ltd. purchased a new position in Victoria’s Secret & Co. during the 4th quarter valued at $558,521,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Victoria’s Secret & Co. during the fourth quarter valued at $87,786,000. Marshall Wace LLP grew its holdings in shares of Victoria’s Secret & Co. by 301.4% in the fourth quarter. Marshall Wace LLP now owns 1,792,727 shares of the company’s stock worth $97,112,000 after purchasing an additional 1,346,104 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 purchasing an additional 978,194 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Victoria’s Secret & Co. in the 3rd quarter worth about $20,870,000. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

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.