Brokerages Set Victoria’s Secret & Co. (NYSE:VSXY) Price Target at $88.70

Victoria’s Secret & Co. (NYSE:VSXY) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $88.70.

Several research firms recently issued reports on VSXY. UBS Group lowered shares of Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and increased their target price for the stock from $81.00 to $90.00 in a report on Wednesday, June 3rd. Barclays lifted their price target on shares of Victoria’s Secret & Co. from $67.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Telsey Advisory Group upped their price target on shares of Victoria’s Secret & Co. from $71.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Wells Fargo & Company increased their price objective 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. Finally, Jefferies Financial Group downgraded shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and raised their price objective for the company from $65.00 to $73.00 in a research report on Wednesday, June 3rd.

Victoria’s Secret & Co. Stock Up 0.0%

VSXY stock opened at $89.13 on Wednesday. The business has a 50 day moving average of $78.98 and a 200 day moving average of $62.13. The firm has a market cap of $7.08 billion, a PE ratio of 47.92, a price-to-earnings-growth ratio of 0.70 and a beta of 2.06. Victoria’s Secret & Co. has a twelve month low of $19.15 and a twelve month high of $91.97. The company has a quick ratio of 0.41, a current ratio of 1.26 and a debt-to-equity ratio of 1.17.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.31. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.52 billion. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. During the same quarter in the prior year, the firm posted $0.09 earnings per share. On average, research analysts forecast that Victoria’s Secret & Co. will post 4.67 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,500,000 shares of company stock valued at $212,353,716 over the last quarter. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Victoria’s Secret & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bbfit Investments PTE Ltd. purchased a new position in Victoria’s Secret & Co. during the 4th quarter valued at $558,521,000. Vanguard Group Inc. lifted its position in shares of Victoria’s Secret & Co. by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 8,748,614 shares of the company’s stock worth $473,912,000 after purchasing an additional 263,079 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Victoria’s Secret & Co. by 10.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,549,501 shares of the company’s stock worth $69,187,000 after purchasing an additional 238,516 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Victoria’s Secret & Co. by 11.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,366 shares of the company’s stock valued at $108,956,000 after purchasing an additional 199,170 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of 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 during the period. 90.29% of the stock is currently owned by hedge funds and other 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.