Victoria's Secret & Co. (NYSE:VSXY) Stock Rating Raised to "Moderate Buy" at Needham & Company LLC

Key Points

• Needham upgraded Victoria’s Secret & Co. to “Moderate Buy.” The broader analyst consensus is also “Moderate Buy,” with eight Buy ratings, seven Holds and an average price target of $91.25.
• The stock fell 3.4% to $87.44, despite the company reporting quarterly EPS of $0.95—beating estimates of $0.77—and revenue growth of 10.4% year over year to $1.61 billion.
• Insiders sold more than 1.09 million shares worth approximately $97.4 million over the past 90 days, while institutional investors own 90.29% of the company.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) was upgraded by investment analysts at Needham & Company LLC to a "moderate buy" rating in a report issued on Friday, Zacks reports.

Several other analysts also recently commented on VSXY. Barclays lowered their target price on shares of Victoria's Secret & Co. from $108.00 to $106.00 and set an "overweight" rating for the company in a report on Friday, September 4th. Telsey Advisory Group upped their price objective on shares of Victoria's Secret & Co. from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 2nd. Wall Street Zen upgraded Victoria's Secret & Co. from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley upped their target price on Victoria's Secret & Co. from $99.00 to $101.00 and gave the company an "overweight" rating in a report on Friday, September 4th. Finally, TD Cowen raised their target price on Victoria's Secret & Co. from $75.00 to $80.00 and gave the company a "hold" rating in a research report on Tuesday, August 18th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Victoria's Secret & Co. currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.25.

Victoria's Secret & Co. Stock Down 3.4%

NYSE VSXY traded down $3.09 on Friday, hitting $87.44. 1,453,067 shares of the company were exchanged, compared to its average volume of 1,681,002. The company has a current ratio of 1.36, a quick ratio of 0.57 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average of $84.69 and a 200-day moving average of $73.09. The company has a market cap of $6.97 billion, a PE ratio of 25.34, a PEG ratio of 0.61 and a beta of 2.01. Victoria's Secret & Co. has a 12 month low of $29.67 and a 12 month high of $102.46.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last issued its 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. Victoria's Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. Victoria's Secret & Co.'s revenue was up 10.4% compared to the same quarter last year. As a group, analysts forecast that Victoria's Secret & Co. will post 4.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Melinda R. Mcafee sold 4,500 shares of the business's stock in a transaction on Monday, October 5th. The stock was sold at an average price of $91.10, for a total transaction of $409,950.00. Following the sale, the insider directly owned 166,317 shares in the company, valued at approximately $15,151,478.70. The trade was a 2.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total value of $71,223,718.00. Following the sale, the insider directly owned 7,810,631 shares in the company, valued at $696,317,753.65. This trade represents a 9.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,092,899 shares of company stock valued at $97,365,456 over the last ninety days. Corporate insiders own 0.52% of the company's stock.

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

Several hedge funds and other institutional investors have recently modified their holdings of VSXY. Triasima Portfolio Management inc. bought a new stake in Victoria's Secret & Co. during the 3rd quarter worth approximately $658,000. Fortitude Family Office LLC lifted its stake in Victoria's Secret & Co. by 126.7% in the 3rd quarter. Fortitude Family Office LLC now owns 306 shares of the company's stock worth $27,000 after purchasing an additional 171 shares in the last quarter. ANB Bank purchased a new stake in Victoria's Secret & Co. in the 3rd quarter worth approximately $304,000. GK Wealth Management LLC bought a new position in Victoria's Secret & Co. in the 3rd quarter valued at $103,000. Finally, GAMMA Investing LLC boosted its holdings in Victoria's Secret & Co. by 11.7% in the 3rd quarter. GAMMA Investing LLC now owns 9,411 shares of the company's stock valued at $832,000 after purchasing an additional 985 shares during the period. 90.29% of the stock is currently owned by institutional investors.

About Victoria's Secret & Co.

Victoria's Secret & Co is a specialty retailer focused on women's intimate apparel, lingerie, beauty products, sleepwear, loungewear and related accessories. Its portfolio includes the Victoria's Secret brand, which offers bras, panties, sleepwear, apparel, fragrances and body-care products, and PINK, a lifestyle brand serving younger consumers with intimates, apparel, beauty products and accessories. The company also owns Adore Me, a digitally focused intimate-apparel brand.

The company sells its products through company-operated stores, digital platforms and selected wholesale and partner channels.

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