Victoria’s Secret & Co. (NYSE:VSXY) Major Shareholder International Pte Ltd Bbrc Sells 1,107,672 Shares of Stock

Victoria’s Secret & Co. (NYSE:VSXY) major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the completion of the sale, the insider owned 9,202,959 shares of the company’s stock, valued at approximately $737,249,045.49. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• On Thursday, June 4th, International Pte Ltd Bbrc sold 27,758 shares of Victoria’s Secret & Co. stock. The stock was sold at an average price of $80.03, for a total transaction of $2,221,472.74.

Victoria’s Secret & Co. Stock Down 7.4%

Shares of NYSE VSXY opened at $73.09 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 1.07. Victoria’s Secret & Co. has a 52 week low of $17.53 and a 52 week high of $81.28. The firm’s fifty day moving average is $51.00 and its 200 day moving average is $52.60. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 39.30, a PEG ratio of 1.36 and a beta of 2.16.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.29 by $0.31. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.95%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, equities research analysts expect that Victoria’s Secret & Co. will post 3.49 earnings per share for the current year.

Key Victoria’s Secret & Co. News

Here are the key news stories impacting Victoria’s Secret & Co. this week:

• Positive Sentiment: Victoria’s Secret posted stronger-than-expected Q1 results, with sales and earnings topping guidance and management raising its full-year outlook. Reuters article
• Positive Sentiment: Wells Fargo and Telsey Advisory Group both raised their price targets to $90 and maintained bullish ratings, reinforcing confidence in the turnaround story. Benzinga article
• Positive Sentiment: All three independent proxy advisors recommended shareholders vote for the company’s nominees, reducing governance-related uncertainty ahead of the annual meeting. GlobeNewswire article
• Neutral Sentiment: Several commentary pieces highlighted that the stock’s sharp rally has pushed valuation higher, and one Seeking Alpha note downgraded the shares to Hold because the risk/reward is less compelling after the surge.
• Neutral Sentiment: Market commentary points to Victoria’s Secret’s brand reset, improved pricing power, and revived core identity as the basis for the stock’s recent momentum.

Analyst Ratings Changes

VSXY has been the topic of several analyst reports. Zacks Research raised shares of Victoria’s Secret & Co. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Barclays lifted 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 note on Wednesday. The Goldman Sachs Group lifted their target price on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America raised shares of Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $68.00 in a research note on Wednesday, April 29th. Finally, UBS Group downgraded shares of Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $81.00 to $90.00 in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VSXY. Parallel Advisors LLC increased its position in Victoria’s Secret & Co. by 666.7% during the 1st quarter. Parallel Advisors LLC now owns 621 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Victoria’s Secret & Co. during the 3rd quarter valued at $30,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Victoria’s Secret & Co. during the 4th quarter valued at $33,000. Hantz Financial Services Inc. increased its position in Victoria’s Secret & Co. by 104.3% during the 4th quarter. Hantz Financial Services Inc. now owns 811 shares of the company’s stock valued at $44,000 after purchasing an additional 414 shares during the period. Finally, State of Wyoming purchased a new position in Victoria’s Secret & Co. during the 3rd quarter valued at $48,000. 90.29% of the stock is 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.