Victoria’s Secret & Co. (NYSE:VSXY) Announces Quarterly Earnings Results

Victoria’s Secret & Co. (NYSE:VSXY) announced its quarterly earnings results on Thursday. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.76 by $0.19, FiscalAI reports. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%.

Victoria’s Secret & Co. Stock Performance

NYSE:VSXY opened at $84.91 on Thursday. The firm’s fifty day simple moving average is $85.87 and its 200 day simple moving average is $66.58. 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 stock has a market cap of $6.74 billion, a P/E ratio of 45.65, a price-to-earnings-growth ratio of 0.57 and a beta of 2.05. Victoria’s Secret & Co. has a twelve month low of $22.54 and a twelve month high of $102.46.

Analyst Ratings Changes

A number of equities analysts have recently commented on VSXY shares. TD Cowen increased their price target on shares of Victoria’s Secret & Co. from $75.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, August 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $99.00 price objective on shares of Victoria’s Secret & Co. in a report on Monday, July 6th. Barclays upped their target price on shares of Victoria’s Secret & Co. from $67.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Wells Fargo & Company raised their price target on Victoria’s Secret & Co. from $57.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Finally, Telsey Advisory Group lifted their price target on Victoria’s Secret & Co. from $90.00 to $100.00 and gave the stock an “outperform” 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.70.

Insider Transactions at Victoria’s Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the stock in a transaction 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 sale, the insider directly owned 7,810,631 shares of the company’s stock, valued at approximately $696,317,753.65. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 1,364,570 shares of company stock worth $121,396,640. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VSXY. Dimensional Fund Advisors LP lifted its position in shares of Victoria’s Secret & Co. by 10.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,549,501 shares of the company’s stock valued at $69,187,000 after buying an additional 238,516 shares in the last quarter. Marshall Wace LLP lifted its holdings in 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 valued at $97,112,000 after purchasing an additional 1,346,104 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Victoria’s Secret & Co. in the fourth quarter worth approximately $87,786,000. Bank of America Corp DE increased its stake in shares of Victoria’s Secret & Co. by 44.2% in the second quarter. Bank of America Corp DE now owns 1,415,200 shares of the company’s stock worth $26,210,000 after purchasing an additional 434,012 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Victoria’s Secret & Co. by 47.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,330,965 shares of the company’s stock valued at $72,098,000 after purchasing an additional 425,805 shares during the period. 90.29% of the stock is currently owned by institutional investors.

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.