Victoria's Secret & Co. (NYSE:VSXY) Stock Price Expected to Rise, Telsey Advisory Group Analyst Says

Key Points

• Telsey Advisory Group raised its price target for Victoria’s Secret & Co. from $90 to $100 and maintained an “outperform” rating, implying 10.2% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average price target of $90.70; individual targets range from $68 to $110.
• The company exceeded quarterly expectations, reporting $0.60 in earnings per share versus a $0.29 consensus estimate and revenue of $1.56 billion versus $1.52 billion expected. However, insiders sold about 2.5 million shares worth $212.4 million during the last quarter.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) had its target price boosted by investment analysts at Telsey Advisory Group from $90.00 to $100.00 in a research report issued on Thursday. The firm currently has an "outperform" rating on the stock. Telsey Advisory Group's price target would indicate a potential upside of 10.20% from the stock's previous close.

VSXY has been the topic of a number of other research reports. UBS Group increased their price target on shares of Victoria's Secret & Co. from $90.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday, August 18th. Weiss Ratings upgraded Victoria's Secret & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 24th. The Goldman Sachs Group lifted their target price on Victoria's Secret & Co. from $56.00 to $84.00 and gave the stock a "neutral" rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their price target on Victoria's Secret & Co. from $88.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Finally, Bank of America raised Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and increased their price objective for the company from $58.00 to $68.00 in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.70.

Victoria's Secret & Co. Price Performance

VSXY opened at $90.74 on Thursday. The stock has a 50-day moving average price of $85.30 and a 200-day moving average price of $65.62. 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 market cap of $7.21 billion, a PE ratio of 48.78, a P/E/G ratio of 0.60 and a beta of 2.06. Victoria's Secret & Co. has a 1 year low of $21.91 and a 1 year high of $102.46.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.29 by $0.31. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.52 billion. Victoria's Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. During the same period in the prior year, the firm posted $0.09 EPS. Sell-side analysts predict that Victoria's Secret & Co. will post 4.7 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the completion of the sale, the insider directly owned 9,202,959 shares in the company, valued at approximately $737,249,045.49. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 2,500,000 shares of company stock valued at $212,353,716 over the last quarter. Company insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Victoria's Secret & Co.

Hedge funds have recently modified their holdings of the business. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Victoria's Secret & Co. during the fourth quarter valued at $33,000. Parallel Advisors LLC raised its stake in shares of Victoria's Secret & Co. by 666.7% in the first quarter. Parallel Advisors LLC now owns 621 shares of the company's stock worth $29,000 after buying an additional 540 shares during the period. Hantz Financial Services Inc. lifted its position in shares of 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 buying an additional 414 shares in the last quarter. DV Equities LLC bought a new position in shares of Victoria's Secret & Co. during the 4th quarter valued at approximately $49,000. Finally, Leonteq Securities AG bought a new position in shares of Victoria's Secret & Co. during the 4th quarter valued at approximately $54,000. Institutional investors 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.

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