California State Teachers Retirement System Acquires 16,044 Shares of Victoria's Secret & Co. $VSXY

Key Points

• California State Teachers Retirement System increased its Victoria’s Secret & Co. stake by 23.5% in the first quarter, adding 16,044 shares to own 84,333 shares valued at approximately $3.91 million.
• Institutional investors own 90.29% of the company, while insiders have sold 2.5 million shares worth about $212.4 million over the past three months, including a 1.1 million-share sale by major shareholder International Pte Ltd Bbrc.
• Victoria’s Secret exceeded quarterly expectations with $0.60 earnings per share versus a $0.29 consensus and $1.56 billion in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $88.70.

California State Teachers Retirement System increased its holdings in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 23.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 84,333 shares of the company's stock after purchasing an additional 16,044 shares during the period. California State Teachers Retirement System owned approximately 0.11% of Victoria's Secret & Co. worth $3,910,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quantinno Capital Management LP lifted its holdings in shares of Victoria's Secret & Co. by 9.2% during the first quarter. Quantinno Capital Management LP now owns 32,095 shares of the company's stock worth $1,488,000 after buying an additional 2,704 shares during the last quarter. Whitebox Advisors LLC grew its stake in shares of Victoria's Secret & Co. by 7.4% in the first quarter. Whitebox Advisors LLC now owns 10,890 shares of the company's stock worth $505,000 after acquiring an additional 750 shares during the last quarter. Lazard Asset Management LLC increased its position in Victoria's Secret & Co. by 6.3% during the first quarter. Lazard Asset Management LLC now owns 7,712 shares of the company's stock worth $358,000 after acquiring an additional 454 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Victoria's Secret & Co. by 0.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,343,203 shares of the company's stock worth $62,271,000 after acquiring an additional 12,238 shares during the period. Finally, Inceptionr LLC acquired a new position in Victoria's Secret & Co. during the 1st quarter valued at $242,000. Institutional investors own 90.29% of the company's stock.

Insider Transactions at Victoria's Secret & Co.

In other Victoria's Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the completion of the transaction, the insider owned 9,202,959 shares in the company, valued at $737,249,045.49. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 2,500,000 shares of company stock valued at $212,353,716 over the last three months. Corporate insiders own 0.52% of the company's stock.

Victoria's Secret & Co. Trading Up 5.6%

Shares of Victoria's Secret & Co. stock opened at $98.75 on Friday. Victoria's Secret & Co. has a 52-week low of $20.48 and a 52-week high of $99.33. The firm has a market capitalization of $7.84 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 0.77 and a beta of 2.06. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.26 and a quick ratio of 0.41. The company's fifty day moving average price is $81.19 and its two-hundred day moving average price is $62.83.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.31. Victoria's Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $0.09 EPS. On average, analysts expect that Victoria's Secret & Co. will post 4.67 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on VSXY. Telsey Advisory Group raised their price target on shares of Victoria's Secret & Co. from $71.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 3rd. Wells Fargo & Company upped their price objective on shares of Victoria's Secret & Co. from $57.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on shares of 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. Morgan Stanley restated an "overweight" rating and set a $99.00 price target on shares of Victoria's Secret & Co. in a research note on Monday, July 6th. Finally, The Goldman Sachs Group upped their price target on Victoria's Secret & Co. from $56.00 to $84.00 and gave the company a "neutral" rating in a 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.70.

Victoria's Secret & Co. Company 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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