Victoria’s Secret & Co. (NYSE:VSXY) Major Shareholder Sells $71,223,718.00 in Stock

Victoria’s Secret & Co. (NYSE:VSXY) major shareholder International Pte Ltd Bbrc sold 798,920 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total transaction of $71,223,718.00. Following the transaction, the insider owned 7,810,631 shares in the company, valued at $696,317,753.65. The trade was a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• On Wednesday, July 22nd, International Pte Ltd Bbrc sold 289,479 shares of Victoria’s Secret & Co. stock. The shares were sold at an average price of $88.89, for a total transaction of $25,731,788.31.
• On Friday, June 26th, International Pte Ltd Bbrc sold 276,171 shares of Victoria’s Secret & Co. stock. The shares were sold at an average price of $88.50, for a total transaction of $24,441,133.50.
• On Thursday, June 4th, International Pte Ltd Bbrc sold 27,758 shares of Victoria’s Secret & Co. stock. The stock was sold at an average price of $80.03, for a total transaction of $2,221,472.74.
• On Tuesday, June 2nd, International Pte Ltd Bbrc sold 1,107,672 shares of Victoria’s Secret & Co. stock. The stock was sold at an average price of $80.11, for a total value of $88,735,603.92.

Victoria’s Secret & Co. Price Performance

VSXY stock opened at $89.09 on Friday. 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 business has a 50 day simple moving average of $77.58 and a 200-day simple moving average of $61.76. The firm has a market capitalization of $7.08 billion, a PE ratio of 47.90, a price-to-earnings-growth ratio of 0.69 and a beta of 2.07. Victoria’s Secret & Co. has a 1 year low of $18.04 and a 1 year high of $91.97.

Victoria’s Secret & Co. (NYSE:VSXY) last posted 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 analysts’ expectations of $1.52 billion. Victoria’s Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.During the same quarter last year, the firm earned $0.09 earnings per share. Equities research analysts anticipate that Victoria’s Secret & Co. will post 4.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Telsey Advisory Group boosted their price target on shares of Victoria’s Secret & Co. from $71.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group cut shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and raised their price objective for the stock from $65.00 to $73.00 in a research report on Wednesday, June 3rd. Wells Fargo & Company lifted their target price on shares of Victoria’s Secret & Co. from $57.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Bank of America upgraded shares of Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and boosted their target price for the company from $58.00 to $68.00 in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group increased their price target 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, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Victoria’s Secret & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.70.

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

Several large investors have recently modified their holdings of VSXY. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Victoria’s Secret & Co. during the 4th quarter worth $33,000. Parallel Advisors LLC raised its holdings in Victoria’s Secret & Co. by 666.7% in the 1st quarter. Parallel Advisors LLC now owns 621 shares of the company’s stock valued at $29,000 after buying an additional 540 shares during the period. Hantz Financial Services Inc. raised its holdings in Victoria’s Secret & Co. by 104.3% in the 4th quarter. Hantz Financial Services Inc. now owns 811 shares of the company’s stock valued at $44,000 after buying an additional 414 shares during the period. DV Equities LLC acquired a new position in Victoria’s Secret & Co. in the fourth quarter valued at about $49,000. Finally, Leonteq Securities AG acquired a new position in Victoria’s Secret & Co. in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

Victoria’s Secret & Co. Company Profile

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.