CIBC Asset Management Inc Makes New Investment in Victoria’s Secret & Co. $VSXY

CIBC Asset Management Inc bought a new position in shares of Victoria’s Secret & Co. (NYSE:VSXY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,515 shares of the company’s stock, valued at approximately $407,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its stake in Victoria’s Secret & Co. by 104.3% during the fourth quarter. Hantz Financial Services Inc. now owns 811 shares of the company’s stock worth $44,000 after purchasing an additional 414 shares during the last quarter. Leonteq Securities AG bought a new stake in Victoria’s Secret & Co. during the fourth quarter worth $54,000. Aster Capital Management DIFC Ltd bought a new stake in Victoria’s Secret & Co. during the third quarter worth $30,000. Flagship Harbor Advisors LLC bought a new stake in Victoria’s Secret & Co. during the fourth quarter worth $70,000. Finally, State of Wyoming bought a new stake in Victoria’s Secret & Co. during the third quarter worth $48,000. 90.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on VSXY. Telsey Advisory Group increased their price target on Victoria’s Secret & Co. from $71.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Weiss Ratings cut Victoria’s Secret & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. The Goldman Sachs Group increased their price target on 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. UBS Group cut Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and increased their price target for the company from $81.00 to $90.00 in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group cut Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and increased their price target for the company from $65.00 to $73.00 in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.60.

Insider Activity at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc sold 27,758 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $80.03, for a total value of $2,221,472.74. Following the completion of the sale, the insider directly owned 9,175,201 shares in the company, valued at $734,291,336.03. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anne Sheehan acquired 4,842 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average price of $45.86 per share, with a total value of $222,054.12. Following the completion of the acquisition, the director directly owned 34,261 shares of the company’s stock, valued at $1,571,209.46. This trade represents a 16.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.52% of the stock is currently owned by company insiders.

Victoria’s Secret & Co. Stock Down 1.4%

Shares of VSXY opened at $75.21 on Wednesday. Victoria’s Secret & Co. has a 52 week low of $17.53 and a 52 week high of $81.28. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 0.64 and a beta of 2.16. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.54 and a current ratio of 1.26. The stock has a fifty day moving average of $52.90 and a 200-day moving average of $53.45.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.31. Victoria’s Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the company earned $0.09 EPS. As a group, sell-side analysts anticipate that Victoria’s Secret & Co. will post 4.37 earnings per share for the current fiscal year.

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.