Arizona State Retirement System Invests $1.58 Million in Victoria's Secret & Co. $VSXY

Key Points

• Arizona State Retirement System acquired 18,873 shares of Victoria’s Secret & Co. in the second quarter, valued at approximately $1.58 million. Institutional investors collectively own 90.29% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $89.00, although individual targets range from $80 to $101.
• Victoria’s Secret exceeded quarterly earnings expectations, reporting $0.95 in EPS versus the $0.77 estimate, while revenue rose 10.4% year over year to $1.61 billion. However, insiders sold $121.4 million worth of shares during the latest quarter.

Arizona State Retirement System acquired a new stake in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,873 shares of the company's stock, valued at approximately $1,576,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VSXY. Nykredit A S purchased a new stake in Victoria's Secret & Co. during the 2nd quarter valued at $187,000. Corient Private Wealth LP bought a new position in shares of Victoria's Secret & Co. during the 2nd quarter valued at $577,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Victoria's Secret & Co. in the 2nd quarter worth $2,817,000. California State Teachers Retirement System purchased a new position in shares of Victoria's Secret & Co. in the 2nd quarter worth $571,660,000. Finally, Wedmont Private Capital bought a new stake in shares of Victoria's Secret & Co. in the second quarter worth $425,000. Institutional investors own 90.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on VSXY. TD Cowen upped their price objective 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. Morgan Stanley raised their target price on Victoria's Secret & Co. from $99.00 to $101.00 and gave the stock an "overweight" rating in a research report on Friday, September 4th. The Goldman Sachs Group boosted their price target on Victoria's Secret & Co. from $56.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, June 3rd. UBS Group reduced their price target on shares of Victoria's Secret & Co. from $95.00 to $87.00 and set a "neutral" rating for the company in a research report on Friday, September 4th. Finally, Telsey Advisory Group increased 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 note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.

Insiders Place Their Bets

In other Victoria's Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $89.15, for a total value of $71,223,718.00. Following the completion of the transaction, the insider directly owned 7,810,631 shares in the company, valued at $696,317,753.65. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,364,570 shares of company stock worth $121,396,640 over the last quarter. 0.52% of the stock is owned by insiders.

Victoria's Secret & Co. Stock Performance

Shares of VSXY opened at $74.47 on Tuesday. The business has a 50-day simple moving average of $84.91 and a two-hundred day simple moving average of $67.38. The company has a quick ratio of 0.57, a current ratio of 1.36 and a debt-to-equity ratio of 0.92. Victoria's Secret & Co. has a 52 week low of $25.09 and a 52 week high of $102.46. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 0.51 and a beta of 2.05.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.18. The firm had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.62 billion. Victoria's Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%.The firm's revenue was up 10.4% on a year-over-year basis. On average, analysts expect that Victoria's Secret & Co. will post 4.69 EPS for the current year.

About Victoria's Secret & Co.

Victoria's Secret & Co is a specialty retailer focused on intimate apparel, lingerie, beauty products and related accessories. Its portfolio includes the Victoria's Secret brand, which offers bras, panties, sleepwear, swimwear, apparel, fragrances and body-care products, and PINK, which targets younger consumers with lingerie, loungewear, apparel, beauty products and accessories.

The company also owns Adore Me, a digitally focused intimates brand offering lingerie and related apparel.

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