10,310,531 Shares in Victoria's Secret & Co. $VSXY Bought by Bbfit Investments PTE Ltd.

Key Points

• Bbfit Investments PTE Ltd. bought 10,310,531 shares of Victoria’s Secret & Co. in the fourth quarter, worth about $558.5 million, making the stock its largest holding and 55.7% of its portfolio.
• Victoria’s Secret reported better-than-expected quarterly results, with EPS of $0.60 versus the $0.29 consensus and revenue of $1.56 billion versus estimates of $1.52 billion.
• Analysts remain generally constructive, with several firms raising price targets; the stock currently carries a Moderate Buy rating and a consensus target price of $82.60.

Bbfit Investments PTE Ltd. acquired a new position in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,310,531 shares of the company's stock, valued at approximately $558,521,000. Victoria's Secret & Co. comprises 55.7% of Bbfit Investments PTE Ltd.'s investment portfolio, making the stock its biggest position. Bbfit Investments PTE Ltd. owned 12.84% of Victoria's Secret & Co. at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its position in Victoria's Secret & Co. by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 311,502 shares of the company's stock worth $8,454,000 after buying an additional 39,356 shares during the period. Premier Fund Managers Ltd acquired a new position in shares of Victoria's Secret & Co. during the third quarter valued at $540,000. Royce & Associates LP increased its holdings in shares of Victoria's Secret & Co. by 11.2% during the third quarter. Royce & Associates LP now owns 398,992 shares of the company's stock valued at $10,829,000 after purchasing an additional 40,155 shares during the period. Tabor Asset Management LP acquired a new position in shares of Victoria's Secret & Co. during the third quarter valued at $907,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Victoria's Secret & Co. during the fourth quarter valued at $7,790,000. 90.29% of the stock is owned by institutional investors and hedge funds.

Victoria's Secret & Co. Trading Down 0.2%

Shares of NYSE VSXY opened at $78.57 on Thursday. Victoria's Secret & Co. has a one year low of $17.53 and a one year high of $82.99. The firm has a market capitalization of $6.24 billion, a PE ratio of 42.24, a PEG ratio of 0.62 and a beta of 2.16. The company has a current ratio of 1.26, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average price of $56.72 and a two-hundred day moving average price of $55.16.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.31. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.09 EPS. As a group, analysts predict that Victoria's Secret & Co. will post 4.61 earnings per share for the current fiscal year.

Insider Activity at Victoria's Secret & Co.

In related news, Director Anne Sheehan acquired 4,842 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The shares were acquired at an average cost of $45.86 per share, with a total value of $222,054.12. Following the purchase, the director owned 34,261 shares of the company's stock, valued at approximately $1,571,209.46. The trade was a 16.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donna James acquired 2,175 shares of the business's stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average cost of $46.23 per share, for a total transaction of $100,550.25. Following the completion of the purchase, the director directly owned 63,097 shares in the company, valued at $2,916,974.31. This represents a 3.57% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on VSXY shares. Weiss Ratings lowered Victoria's Secret & Co. from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, April 27th. Zacks Research raised Victoria's Secret & Co. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. Wall Street Zen cut Victoria's Secret & Co. from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 5th. TD Cowen raised their target price on Victoria's Secret & Co. from $50.00 to $75.00 and gave the company a "hold" rating in a research note on Thursday, June 4th. Finally, Telsey Advisory Group raised their target price on Victoria's Secret & Co. from $71.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.60.

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.

Want to see what other hedge funds are holding VSXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Victoria's Secret & Co. (NYSE:VSXY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.