Victoria’s Secret & Co. (NYSE:VSXY) Reaches New 1-Year High – Here’s What Happened

Victoria’s Secret & Co. (NYSE:VSXY)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $82.91 and last traded at $81.88, with a volume of 171789 shares changing hands. The stock had previously closed at $78.88.

Analysts Set New Price Targets

Several equities analysts have issued reports on VSXY shares. Wells Fargo & Company lifted their target price on Victoria’s Secret & Co. from $57.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. TD Cowen lifted their target price on Victoria’s Secret & Co. from $50.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on Victoria’s Secret & Co. from $77.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Jefferies Financial Group cut 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. Finally, Barclays raised their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.60.

Victoria’s Secret & Co. Price Performance

The firm has a market capitalization of $6.26 billion, a PE ratio of 42.34, a price-to-earnings-growth ratio of 0.63 and a beta of 2.16. The stock’s 50 day simple moving average is $56.12 and its two-hundred day simple moving average is $54.89. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26.

Victoria’s Secret & Co. (NYSE:VSXY) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, topping 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 business 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 business posted $0.09 EPS. On average, sell-side analysts forecast that Victoria’s Secret & Co. will post 4.61 EPS for the current year.

Insider Buying and Selling

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

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

Several hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. purchased a new position in shares of Victoria’s Secret & Co. in the 1st quarter valued at $233,000. Royal Bank of Canada grew its position in shares of Victoria’s Secret & Co. by 279.1% in the 1st quarter. Royal Bank of Canada now owns 47,839 shares of the company’s stock valued at $888,000 after buying an additional 35,220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Victoria’s Secret & Co. by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company’s stock valued at $1,170,000 after buying an additional 1,797 shares during the last quarter. Invesco Ltd. grew its position in shares of Victoria’s Secret & Co. by 8.0% in the 2nd quarter. Invesco Ltd. now owns 772,884 shares of the company’s stock valued at $14,314,000 after buying an additional 57,048 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Victoria’s Secret & Co. by 194.4% in the second quarter. First Trust Advisors LP now owns 152,625 shares of the company’s stock valued at $2,827,000 after acquiring an additional 100,787 shares during the period. 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.