Victoria's Secret & Co. (NYSE:VSXY) Price Target Raised to $100.00 at Telsey Advisory Group

Key Points

• Telsey Advisory Group raised Victoria’s Secret’s price target to $100 from $90 and maintained an “outperform” rating, implying roughly 21% upside from the reported $82.40 share price.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $90.70; targets from other firms range from $73 to $108.
• The company beat quarterly expectations, reporting $0.60 EPS versus a $0.29 consensus and revenue of $1.56 billion versus $1.52 billion expected, although insiders have sold more than $123 million of stock over the past three months.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) had its target price lifted by investment analysts at Telsey Advisory Group from $90.00 to $100.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Telsey Advisory Group's price target would indicate a potential upside of 21.36% from the company's current price.

VSXY has been the topic of several other research reports. Jefferies Financial Group lowered shares of Victoria's Secret & Co. from a "buy" rating to a "hold" rating and boosted their price target for the company from $65.00 to $73.00 in a research report on Wednesday, June 3rd. The Goldman Sachs Group lifted their price objective on shares of Victoria's Secret & Co. from $56.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, June 3rd. Barclays boosted their target price 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. Weiss Ratings raised Victoria's Secret & Co. from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 24th. Finally, TD Cowen raised their price target on Victoria's Secret & Co. from $75.00 to $80.00 and gave the stock a "hold" rating in a report on Tuesday, August 18th. One research 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.70.

Victoria's Secret & Co. Stock Performance

Shares of NYSE VSXY traded down $1.77 during midday trading on Wednesday, reaching $82.40. The company's stock had a trading volume of 1,507,202 shares, compared to its average volume of 2,123,863. The stock has a market capitalization of $6.55 billion, a P/E ratio of 44.30, a PEG ratio of 0.58 and a beta of 2.05. 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 firm has a 50 day moving average price of $85.78 and a 200-day moving average price of $66.38. Victoria's Secret & Co. has a 12-month low of $22.54 and a 12-month high of $102.46.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last issued 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 company had revenue of $1.56 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $0.09 earnings per share. As a group, equities analysts predict that Victoria's Secret & Co. will post 4.71 earnings per share for the current year.

Insider Buying and Selling

In related 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 shares were 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 of the company's stock, valued at approximately $696,317,753.65. This represents a 9.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,392,328 shares of company stock worth $123,618,113 over the last three months. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Victoria's Secret & Co.

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of Victoria's Secret & Co. by 666.7% during the 1st quarter. Parallel Advisors LLC now owns 621 shares of the company's stock worth $29,000 after acquiring an additional 540 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Victoria's Secret & Co. in the fourth quarter valued at about $33,000. Hantz Financial Services Inc. increased its holdings 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. DV Equities LLC bought a new position in shares of Victoria's Secret & Co. during the fourth quarter valued at approximately $49,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Victoria's Secret & Co. in the 3rd quarter worth about $53,000. Hedge funds and other institutional investors own 90.29% of the company's stock.

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.

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