Victoria’s Secret & Co. (NYSE:VSXY) Stock Rated “Buy” in New Coverage at Needham & Company LLC

Equities research analysts at Needham & Company LLC initiated coverage on shares of Victoria’s Secret & Co. (NYSE:VSXY) in a note issued to investors on Friday, MarketBeat reports. The brokerage set a “buy” rating and a $106.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 21.23% from the stock’s current price.

A number of other brokerages have also issued reports on VSXY. UBS Group decreased their price target on Victoria’s Secret & Co. from $95.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, September 4th. Zacks Research downgraded Victoria’s Secret & Co. from a “strong-buy” rating to a “hold” rating in a report on Friday, September 11th. Morgan Stanley increased their target price on Victoria’s Secret & Co. from $99.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Telsey Advisory Group lifted their target price on Victoria’s Secret & Co. from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Finally, Wall Street Zen upgraded Victoria’s Secret & Co. from a “hold” rating to a “buy” rating in a report on Saturday. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.25.

Victoria’s Secret & Co. Stock Down 3.4%

Shares of Victoria’s Secret & Co. stock traded down $3.09 during trading on Friday, reaching $87.44. The company had a trading volume of 1,453,067 shares, compared to its average volume of 1,681,002. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 0.61 and a beta of 2.01. Victoria’s Secret & Co. has a fifty-two week low of $29.67 and a fifty-two week high of $102.46. The firm’s fifty day moving average is $84.69 and its 200-day moving average is $73.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.57 and a current ratio of 1.36.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its earnings results on Thursday, September 3rd. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.18. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Victoria’s Secret & Co. had a net margin of 5.46% and a return on equity of 40.43%. Victoria’s Secret & Co.’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts anticipate that Victoria’s Secret & Co. will post 4.69 EPS for the current year.

Insider Activity at Victoria’s Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 7,810,631 shares of the company’s stock, valued at $696,317,753.65. The trade was a 9.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Melinda R. Mcafee sold 4,500 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $91.10, for a total value of $409,950.00. Following the sale, the insider owned 166,317 shares in the company, valued at $15,151,478.70. The trade was a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,092,899 shares of company stock worth $97,365,456. Corporate insiders own 0.52% of the company’s stock.

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

A number of large investors have recently added to or reduced their stakes in VSXY. Fortitude Family Office LLC raised its position in shares of Victoria’s Secret & Co. by 126.7% in the third quarter. Fortitude Family Office LLC now owns 306 shares of the company’s stock valued at $27,000 after buying an additional 171 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Victoria’s Secret & Co. during the 2nd quarter worth approximately $49,000. Parallel Advisors LLC lifted its stake in shares of 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 acquiring an additional 540 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Victoria’s Secret & Co. by 48.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,122 shares of the company’s stock valued at $61,000 after purchasing an additional 364 shares during the last quarter. Finally, GK Wealth Management LLC bought a new position in Victoria’s Secret & Co. in the 3rd quarter valued at approximately $103,000. Institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Company Profile

Victoria’s Secret & Co is a specialty retailer focused on women’s intimate apparel, lingerie, beauty products, sleepwear, loungewear and related accessories. Its portfolio includes the Victoria’s Secret brand, which offers bras, panties, sleepwear, apparel, fragrances and body-care products, and PINK, a lifestyle brand serving younger consumers with intimates, apparel, beauty products and accessories. The company also owns Adore Me, a digitally focused intimate-apparel brand.

The company sells its products through company-operated stores, digital platforms and selected wholesale and partner channels.