Victoria’s Secret & Co. (NYSE:VSXY) Sets New 52-Week High – Here’s What Happened

Victoria’s Secret & Co. (NYSE:VSXY)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $89.71 and last traded at $87.43, with a volume of 91437 shares trading hands. The stock had previously closed at $87.41.

Analysts Set New Price Targets

Several research analysts recently issued reports on VSXY shares. Morgan Stanley reissued an “overweight” rating and set a $99.00 target price on shares of Victoria’s Secret & Co. in a research note on Monday, July 6th. Barclays upped their price objective 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. The Goldman Sachs Group increased their price objective on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group downgraded Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and raised their target price for the company from $65.00 to $73.00 in a research note on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Victoria’s Secret & Co. from $77.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $86.50.

Victoria’s Secret & Co. Stock Up 0.9%

The company has a market cap of $6.98 billion, a P/E ratio of 47.24, a price-to-earnings-growth ratio of 0.68 and a beta of 2.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.26 and a quick ratio of 0.41. The stock has a fifty day moving average price of $72.09 and a two-hundred day moving average price of $60.43.

Victoria’s Secret & Co. (NYSE:VSXY) last released 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. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. Victoria’s Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.During the same period in the prior year, the firm posted $0.09 EPS. On average, research analysts expect that Victoria’s Secret & Co. will post 4.65 EPS for the current year.

Insider Transactions at Victoria’s Secret & Co.

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $88.50, for a total value of $24,441,133.50. Following the completion of the sale, the insider owned 8,899,030 shares in the company, valued at approximately $787,564,155. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 1,411,601 shares of company stock valued at $115,398,210. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Victoria’s Secret & Co.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Victoria’s Secret & Co. in the 4th quarter worth about $33,000. Parallel Advisors LLC increased its holdings in Victoria’s Secret & Co. by 666.7% during the first quarter. Parallel Advisors LLC now owns 621 shares of the company’s stock worth $29,000 after buying an additional 540 shares during the last quarter. Hantz Financial Services Inc. raised its position in Victoria’s Secret & Co. by 104.3% in the fourth quarter. Hantz Financial Services Inc. now owns 811 shares of the company’s stock worth $44,000 after acquiring an additional 414 shares during the period. DV Equities LLC bought a new stake in Victoria’s Secret & Co. in the fourth quarter worth about $49,000. Finally, Leonteq Securities AG purchased a new position in Victoria’s Secret & Co. in the fourth quarter valued at about $54,000. 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.