Victoria's Secret & Co. (NYSE:VSXY) Stock Gets Price Target Bump from Wells Fargo & Company

Key Points

• Wells Fargo raised Victoria’s Secret’s price target from $100 to $120 while maintaining an “overweight” rating, implying 20.58% upside from the prior close.
• Analyst sentiment is broadly positive: the stock has eight Buy and seven Hold ratings, resulting in a “Moderate Buy” consensus and an average price target of $93.67.
• Victoria’s Secret reported quarterly EPS of $0.95, beating the $0.77 estimate, while revenue rose 10.4% year over year to $1.61 billion; shares recently traded near their 52-week high at $99.52.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) had its price objective raised by analysts at Wells Fargo & Company from $100.00 to $120.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 20.58% from the company's previous close.

Other analysts have also issued research reports about the stock. Needham & Company LLC began coverage on shares of Victoria's Secret & Co. in a report on Friday, October 16th. They issued a "buy" rating and a $106.00 price target for the company. TD Cowen upped their price objective 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. UBS Group decreased their price objective on Victoria's Secret & Co. from $95.00 to $87.00 and set a "neutral" rating on the stock in a research report on Friday, September 4th. 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 on the stock. Finally, Telsey Advisory Group lifted their target price on Victoria's Secret & Co. from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, September 2nd. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.67.

Victoria's Secret & Co. Price Performance

NYSE:VSXY traded up $0.97 on Tuesday, reaching $99.52. The stock had a trading volume of 146,029 shares, compared to its average volume of 2,063,214. The company has a market capitalization of $7.94 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 0.64 and a beta of 2.11. Victoria's Secret & Co. has a 1-year low of $33.61 and a 1-year high of $102.46. The company has a quick ratio of 0.57, a current ratio of 1.36 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average price of $85.74 and a 200-day moving average price of $69.88.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.18. Victoria's Secret & Co. had a net margin of 5.46% and a return on equity of 40.43%. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.62 billion. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts forecast that Victoria's Secret & Co. will post 4.75 EPS for the current year.

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

In other news, insider Melinda McAfee sold 4,500 shares of the company's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $91.10, for a total value of $409,950.00. Following the completion of the transaction, the insider owned 166,317 shares in the company, valued at $15,151,478.70. This represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.52% of the stock is owned by company insiders.

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

A number of large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in shares of Victoria's Secret & Co. by 4.7% during the third quarter. Commonwealth Equity Services LLC now owns 2,524 shares of the company's stock worth $223,000 after buying an additional 114 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Victoria's Secret & Co. in the 3rd quarter valued at approximately $11,371,000. Vise Technologies Inc. lifted its stake in Victoria's Secret & Co. by 10.5% in the 3rd quarter. Vise Technologies Inc. now owns 10,825 shares of the company's stock valued at $958,000 after acquiring an additional 1,031 shares in the last quarter. Hanseatic Management Services Inc. lifted its stake in Victoria's Secret & Co. by 2.1% in the 3rd quarter. Hanseatic Management Services Inc. now owns 14,330 shares of the company's stock valued at $1,268,000 after acquiring an additional 292 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Victoria's Secret & Co. by 83.4% during the 3rd quarter. Signaturefd LLC now owns 552 shares of the company's stock worth $49,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Company Profile

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.

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