Victoria’s Secret & Co. (NYSE:VSXY) Shares Climb 5.2% – Here’s Why

Shares of Victoria’s Secret & Co. (NYSE:VSXY) were up 5.2% during trading on Monday. The stock traded as high as $87.98 and last traded at $87.15. Approximately 190,254 shares traded hands during trading, a decline of 91% from the average session volume of 2,111,427 shares. The stock had previously closed at $82.87.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VSXY. BMO Capital Markets began coverage on shares of Victoria’s Secret & Co. in a report on Tuesday, September 8th. They issued a “market perform” rating and a $80.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Victoria’s Secret & Co. from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 29th. Wall Street Zen lowered shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating in a report on Monday, September 21st. Morgan Stanley boosted their price objective on shares of Victoria’s Secret & Co. from $99.00 to $101.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Victoria’s Secret & Co. from $88.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.91.

Victoria’s Secret & Co. Stock Performance

The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 0.60 and a beta of 2.01. The stock’s 50 day moving average price is $85.02 and its 200 day moving average price is $72.34. The company has a current ratio of 1.36, a quick ratio of 0.57 and a debt-to-equity ratio of 0.92.

Victoria’s Secret & Co. (NYSE:VSXY) last released its earnings results on Thursday, September 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.18. Victoria’s Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts expect that Victoria’s Secret & Co. will post 4.69 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the company’s 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 sale, the insider owned 7,810,631 shares in the company, valued at $696,317,753.65. This represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Melinda R. Mcafee sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $91.10, for a total value of $409,950.00. Following the sale, the insider owned 166,317 shares in the company, valued at approximately $15,151,478.70. This represents a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,092,899 shares of company stock valued at $97,365,456. Corporate insiders own 0.52% of the company’s stock.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. ANB Bank acquired a new position in Victoria’s Secret & Co. during the third quarter worth $304,000. GK Wealth Management LLC acquired a new stake in Victoria’s Secret & Co. in the third quarter valued at $103,000. GAMMA Investing LLC grew its position in shares of Victoria’s Secret & Co. by 11.7% in the 3rd quarter. GAMMA Investing LLC now owns 9,411 shares of the company’s stock valued at $832,000 after acquiring an additional 985 shares during the period. MRA Advisory Group bought a new position in shares of Victoria’s Secret & Co. in the 3rd quarter valued at about $770,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Victoria’s Secret & Co. in the 2nd quarter valued at about $405,000. 90.29% of the stock is owned by institutional investors.

Victoria’s Secret & Co. Company Profile

Victoria’s Secret & Co is a specialty retailer focused on women’s intimate apparel, lingerie, beauty products, sleepwear, loungewear and related accessories. Its portfolio includes the Victoria’s Secret brand, which offers bras, panties, sleepwear, apparel, fragrances and body-care products, and PINK, a lifestyle brand serving younger consumers with intimates, apparel, beauty products and accessories. The company also owns Adore Me, a digitally focused intimate-apparel brand.

The company sells its products through company-operated stores, digital platforms and selected wholesale and partner channels.