Victoria’s Secret & Co. (NYSE:VSXY) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Victoria’s Secret & Co. (NYSE:VSXY) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

VSXY has been the subject of several other reports. UBS Group cut their target price on shares of Victoria’s Secret & Co. from $95.00 to $87.00 and set a “neutral” rating for the company in a report on Friday. Jefferies Financial Group downgraded shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and increased their price target for the stock from $65.00 to $73.00 in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted 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 report on Tuesday, July 28th. Wells Fargo & Company upped 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 report on Wednesday, June 3rd. Finally, The Goldman Sachs Group raised their target price on Victoria’s Secret & Co. from $56.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.90.

Victoria’s Secret & Co. Price Performance

NYSE:VSXY opened at $75.48 on Friday. The firm’s fifty day moving average is $85.22 and its two-hundred day moving average is $66.92. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 0.51 and a beta of 2.05. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26. Victoria’s Secret & Co. has a one year low of $25.00 and a one year high of $102.46.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its earnings results on Thursday, September 3rd. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.18. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Victoria’s Secret & Co. had a return on equity of 43.36% and a net margin of 5.46%.The company’s revenue was up 10.4% compared to the same quarter last year. Research analysts expect that Victoria’s Secret & Co. will post 4.72 EPS for the current year.

Insider Activity at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $89.15, for a total transaction of $71,223,718.00. Following the transaction, the insider directly owned 7,810,631 shares in the company, valued at approximately $696,317,753.65. The trade was a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 1,364,570 shares of company stock valued at $121,396,640 in the last ninety days. 0.52% of the stock is owned by corporate insiders.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VSXY. Baird Financial Group Inc. purchased a new stake in shares of Victoria’s Secret & Co. in the first quarter valued at about $233,000. Royal Bank of Canada raised its stake in Victoria’s Secret & Co. by 279.1% during the first quarter. Royal Bank of Canada now owns 47,839 shares of the company’s stock worth $888,000 after purchasing an additional 35,220 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Victoria’s Secret & Co. by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company’s stock valued at $1,170,000 after purchasing an additional 1,797 shares during the last quarter. Invesco Ltd. grew its stake in shares of Victoria’s Secret & Co. by 8.0% in the 2nd quarter. Invesco Ltd. now owns 772,884 shares of the company’s stock valued at $14,314,000 after buying an additional 57,048 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Victoria’s Secret & Co. by 194.4% during the 2nd quarter. First Trust Advisors LP now owns 152,625 shares of the company’s stock worth $2,827,000 after buying an additional 100,787 shares during the last quarter. Institutional investors and hedge funds own 90.29% of the company’s stock.

About Victoria’s Secret & Co.

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.