BNP Paribas Financial Markets Cuts Stake in Victoria's Secret & Co. $VSXY

Key Points

• BNP Paribas Financial Markets reduced its stake in Victoria’s Secret & Co. by 22.5% in the fourth quarter, selling 35,309 shares and ending with 121,786 shares worth about $6.6 million.
• Victoria’s Secret posted stronger-than-expected quarterly results, reporting $0.60 EPS versus the $0.29 estimate and revenue of $1.56 billion, above analyst expectations.
• Wall Street sentiment is mostly constructive, with several firms raising price targets; the stock now has a consensus “Moderate Buy” rating and an average target of $82.60.

BNP Paribas Financial Markets cut its stake in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 22.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,786 shares of the company's stock after selling 35,309 shares during the quarter. BNP Paribas Financial Markets owned about 0.15% of Victoria's Secret & Co. worth $6,597,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in VSXY. Aster Capital Management DIFC Ltd purchased a new stake in shares of Victoria's Secret & Co. during the third quarter worth about $30,000. Hantz Financial Services Inc. increased its position in shares of Victoria's Secret & Co. by 104.3% during the fourth quarter. Hantz Financial Services Inc. now owns 811 shares of the company's stock worth $44,000 after acquiring an additional 414 shares during the last quarter. State of Wyoming purchased a new stake in shares of Victoria's Secret & Co. during the third quarter worth about $48,000. Quantbot Technologies LP purchased a new stake in shares of Victoria's Secret & Co. during the third quarter worth about $53,000. Finally, Leonteq Securities AG purchased a new stake in shares of Victoria's Secret & Co. during the fourth quarter worth about $54,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

Victoria's Secret & Co. Stock Performance

Shares of VSXY stock opened at $75.21 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.26 and a debt-to-equity ratio of 1.17. The business has a 50 day moving average of $52.90 and a two-hundred day moving average of $53.45. Victoria's Secret & Co. has a 52 week low of $17.53 and a 52 week high of $81.28. The company has a market cap of $5.97 billion, a P/E ratio of 40.44, a PEG ratio of 0.64 and a beta of 2.16.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last issued its 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. Victoria's Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. As a group, analysts anticipate that Victoria's Secret & Co. will post 4.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VSXY. The Goldman Sachs Group lifted their target price on Victoria's Secret & Co. from $56.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their target price on Victoria's Secret & Co. from $77.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday. Wall Street Zen lowered Victoria's Secret & Co. from a "strong-buy" rating to a "buy" rating in a research report on Sunday, April 5th. Zacks Research raised Victoria's Secret & Co. from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. Finally, Barclays lifted their target price on Victoria's Secret & Co. from $67.00 to $108.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $82.60.

Insider Buying and Selling at Victoria's Secret & Co.

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

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.

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