Victoria’s Secret & Co. (NYSE:VSXY) Hits New 1-Year High Following Analyst Upgrade

Victoria’s Secret & Co. (NYSE:VSXY)’s share price hit a new 52-week high during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $100.00 to $120.00. Wells Fargo & Company currently has an overweight rating on the stock. Victoria’s Secret & Co. traded as high as $105.98 and last traded at $105.24, with a volume of 124,414 shares changing hands. The stock had previously closed at $100.53.

Other analysts also recently issued research reports about the company. BMO Capital Markets assumed coverage on Victoria’s Secret & Co. in a research report on Tuesday, September 8th. They issued a “market perform” rating and a $80.00 price objective for the company. Barclays raised their target price on shares of Victoria’s Secret & Co. from $106.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. JPMorgan Chase & Co. lifted their target price on shares of Victoria’s Secret & Co. from $88.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. TD Cowen lifted their target price on shares of Victoria’s Secret & Co. from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, August 18th. Finally, Telsey Advisory Group upped their price target on shares of Victoria’s Secret & Co. from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Insider Buying and Selling at Victoria’s Secret & Co.

In other Victoria’s Secret & Co. news, insider Melinda McAfee sold 7,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $98.90, for a total transaction of $692,300.00. Following the completion of the transaction, the insider owned 156,817 shares of the company’s stock, valued at approximately $15,509,201.30. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,000 shares of company stock worth $1,339,750 in the last 90 days. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VSXY. Squarepoint Ops LLC bought a new position in Victoria’s Secret & Co. in the 2nd quarter valued at approximately $39,803,000. Tidal Investments LLC bought a new stake in shares of Victoria’s Secret & Co. during the 2nd quarter valued at about $2,308,000. Sequoia Financial Advisors LLC raised its stake in shares of Victoria’s Secret & Co. by 212.4% in the first quarter. Sequoia Financial Advisors LLC now owns 18,754 shares of the company’s stock worth $869,000 after buying an additional 12,750 shares during the period. California State Teachers Retirement System raised its position in shares of Victoria’s Secret & Co. by 23.5% during the 1st quarter. California State Teachers Retirement System now owns 84,333 shares of the company’s stock valued at $3,910,000 after purchasing an additional 16,044 shares during the period. Finally, Baird Financial Group Inc. bought a new position in shares of Victoria’s Secret & Co. in the second quarter worth about $30,622,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

Victoria’s Secret & Co. Stock Up 5.0%

The firm has a market capitalization of $8.42 billion, a P/E ratio of 30.60, a P/E/G ratio of 0.66 and a beta of 2.11. The company has a 50 day simple moving average of $86.01 and a two-hundred day simple moving average of $70.07. 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 announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.18. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. Victoria’s Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%. Victoria’s Secret & Co.’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts predict that Victoria’s Secret & Co. will post 4.75 EPS for the current fiscal year.

About Victoria’s Secret & Co.

Victoria’s Secret & Co is a specialty retailer focused on intimate apparel, lingerie, beauty products and related lifestyle merchandise. Its portfolio includes the Victoria’s Secret brand, which offers bras, panties, lingerie, sleepwear, apparel, accessories, fragrances and personal-care products, and PINK, which targets younger customers with lingerie, loungewear, apparel, beauty products and accessories.

The company also operates Adore Me, a digitally focused intimates brand known for a broad range of sizes and subscription-based shopping options.