Baird Financial Group Inc. Makes New $30.62 Million Investment in Victoria's Secret & Co. $VSXY

Key Points

• Baird Financial Group acquired 366,820 shares of Victoria’s Secret & Co. worth approximately $30.62 million, representing about 0.46% of the company. Institutional investors collectively own 90.29% of the stock.
• Victoria’s Secret exceeded quarterly earnings expectations, reporting $0.95 EPS versus the $0.77 consensus. Revenue rose 10.4% year over year to $1.61 billion, slightly below estimates.
• Analyst sentiment remains moderately bullish, with a consensus price target of $89 versus the reported share price of $73.18, although several firms maintain Hold ratings and insiders sold more than $121 million in shares during the quarter.

Baird Financial Group Inc. acquired a new position in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 366,820 shares of the company's stock, valued at approximately $30,622,000. Baird Financial Group Inc. owned about 0.46% of Victoria's Secret & Co. at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Parallel Advisors LLC grew 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 valued at $29,000 after buying an additional 540 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Victoria's Secret & Co. during the 4th quarter worth about $33,000. Hantz Financial Services Inc. increased its stake 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 worth $44,000 after purchasing an additional 414 shares during the last quarter. DV Equities LLC bought a new stake in shares of Victoria's Secret & Co. in the 4th quarter valued at about $49,000. Finally, Quantbot Technologies LP bought a new stake in shares of Victoria's Secret & Co. in the 3rd quarter valued at about $53,000. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Price Performance

Shares of NYSE:VSXY opened at $73.18 on Friday. The firm has a 50 day moving average of $84.99 and a 200-day moving average of $67.19. Victoria's Secret & Co. has a 12 month low of $25.09 and a 12 month high of $102.46. The company has a current ratio of 1.36, a quick ratio of 0.41 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $5.84 billion, a PE ratio of 21.21, 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 results on Thursday, September 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.18. Victoria's Secret & Co. had a net margin of 5.46% and a return on equity of 40.43%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. The business's quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that Victoria's Secret & Co. will post 4.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group dropped their price objective on Victoria's Secret & Co. from $95.00 to $87.00 and set a "neutral" rating on the stock in a research note on Friday, September 4th. Jefferies Financial Group downgraded Victoria's Secret & Co. from a "buy" rating to a "hold" rating and lifted their target price for the stock from $65.00 to $73.00 in a research note on Wednesday, June 3rd. TD Cowen boosted their target price on Victoria's Secret & Co. from $75.00 to $80.00 and gave the stock a "hold" rating in a report on Tuesday, August 18th. Wells Fargo & Company increased their price target on Victoria's Secret & Co. from $57.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. increased their price target on Victoria's Secret & Co. from $88.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $89.00.

Insiders Place Their Bets

In related news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the firm's 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 of the company's stock, valued at $696,317,753.65. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 1,364,570 shares of company stock valued at $121,396,640 over the last quarter. Company insiders own 0.52% of the company's stock.

Victoria's Secret & Co. Company Profile

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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