ARGA Investment Management LP Has $572,000 Position in Victoria's Secret & Co. $VSXY

Key Points

• ARGA Investment Management LP cut its stake in Victoria’s Secret & Co. by 75.7% in the first quarter, leaving it with 12,341 shares valued at about $572,000.
• Institutional interest remains high, with 90.29% of Victoria’s Secret shares owned by institutional investors. Several funds increased holdings, while insiders also sold shares in the latest quarter.
• Analysts are generally positive on the stock: Barclays and Telsey raised price targets, and the consensus rating is “Moderate Buy” with an average target of $86.50. The company also recently beat quarterly earnings and revenue estimates.

ARGA Investment Management LP decreased its position in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 75.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,341 shares of the company's stock after selling 38,489 shares during the quarter. ARGA Investment Management LP's holdings in Victoria's Secret & Co. were worth $572,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. bought a new stake in shares of Victoria's Secret & Co. during the first quarter worth $233,000. Royal Bank of Canada increased its position in Victoria's Secret & Co. by 279.1% in the first quarter. Royal Bank of Canada now owns 47,839 shares of the company's stock worth $888,000 after purchasing an additional 35,220 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Victoria's Secret & Co. by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company's stock worth $1,170,000 after purchasing an additional 1,797 shares during the period. Invesco Ltd. raised its holdings in Victoria's Secret & Co. by 8.0% during the 2nd quarter. Invesco Ltd. now owns 772,884 shares of the company's stock worth $14,314,000 after purchasing an additional 57,048 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Victoria's Secret & Co. by 194.4% during the 2nd quarter. First Trust Advisors LP now owns 152,625 shares of the company's stock worth $2,827,000 after purchasing an additional 100,787 shares during the last quarter. 90.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VSXY shares. Barclays upped 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 research report on Wednesday, June 3rd. Weiss Ratings raised shares of Victoria's Secret & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 24th. Telsey Advisory Group increased their price objective on shares of Victoria's Secret & Co. from $71.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, June 3rd. Jefferies Financial Group cut shares of Victoria's Secret & Co. from a "buy" rating to a "hold" rating and raised their price objective for the company from $65.00 to $73.00 in a research note on Wednesday, June 3rd. Finally, Wall Street Zen lowered shares of Victoria's Secret & Co. from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Victoria's Secret & Co. has a consensus rating of "Moderate Buy" and a consensus price target of $86.50.

Insiders Place Their Bets

In other news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of Victoria's Secret & Co. stock in a transaction on Friday, June 26th. The shares were sold at an average price of $88.50, for a total transaction of $24,441,133.50. Following the transaction, the insider directly owned 8,899,030 shares of the company's stock, valued at $787,564,155. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 1,411,601 shares of company stock valued at $115,398,210 in the last quarter. Company insiders own 0.52% of the company's stock.

Victoria's Secret & Co. Price Performance

Shares of VSXY opened at $78.38 on Friday. The stock has a market cap of $6.23 billion, a P/E ratio of 42.14, a price-to-earnings-growth ratio of 0.60 and a beta of 2.07. Victoria's Secret & Co. has a 1 year low of $17.53 and a 1 year high of $88.57. The stock's 50-day moving average price is $66.42 and its two-hundred day moving average price is $58.75. The company has a current ratio of 1.26, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last announced 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 analysts' expectations 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 prior year, the business posted $0.09 EPS. On average, equities analysts predict that Victoria's Secret & Co. will post 4.65 earnings per share for the current year.

Victoria's Secret & Co. 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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