Edgestream Partners L.P. Purchases 17,425 Shares of Victoria's Secret & Co. $VSXY

Key Points

• Edgestream Partners more than doubled its Victoria’s Secret stake in the first quarter, adding 17,425 shares to own 32,718 shares valued at approximately $1.52 million. Institutional investors collectively control 90.29% of the company.
• Victoria’s Secret reported stronger-than-expected quarterly results, with earnings of $0.60 per share versus the $0.29 consensus and revenue of $1.56 billion, ahead of estimates.
• The stock opened at $89.29, near its 52-week high, while analyst sentiment remained “Moderate Buy” with an average price target of $88.70; targets ranged from $75 to $110. Meanwhile, insiders sold roughly 2.5 million shares worth $212.4 million over the past three months.

Edgestream Partners L.P. raised its position in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 113.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,718 shares of the company's stock after acquiring an additional 17,425 shares during the quarter. Edgestream Partners L.P.'s holdings in Victoria's Secret & Co. were worth $1,517,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. bought a new stake in shares of Victoria's Secret & Co. in the 1st quarter valued at about $233,000. Royal Bank of Canada lifted its stake in Victoria's Secret & Co. by 279.1% in the 1st quarter. Royal Bank of Canada now owns 47,839 shares of the company's stock valued at $888,000 after purchasing an additional 35,220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Victoria's Secret & Co. by 2.9% during 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. grew its holdings in Victoria's Secret & Co. by 8.0% during the second 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 period. Finally, First Trust Advisors LP increased its position in Victoria's Secret & Co. by 194.4% during the second quarter. First Trust Advisors LP now owns 152,625 shares of the company's stock worth $2,827,000 after buying an additional 100,787 shares during the last quarter. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Price Performance

Victoria's Secret & Co. stock opened at $89.29 on Tuesday. The stock's fifty day moving average price is $78.31 and its two-hundred day moving average price is $61.94. Victoria's Secret & Co. has a one year low of $18.93 and a one year high of $91.97. 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 firm has a market cap of $7.09 billion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 0.69 and a beta of 2.07.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.31. The firm 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 previous year, the firm earned $0.09 EPS. As a group, research analysts expect that Victoria's Secret & Co. will post 4.67 EPS for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VSXY. The Goldman Sachs Group upped their price objective 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 downgraded Victoria's Secret & Co. from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $81.00 to $90.00 in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their target price on Victoria's Secret & Co. from $88.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. TD Cowen increased their price target on Victoria's Secret & Co. from $50.00 to $75.00 and gave the company a "hold" rating in a research note on Thursday, June 4th. Finally, Telsey Advisory Group raised their price target on Victoria's Secret & Co. from $71.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.70.

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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