Fulcrum Asset Management LLP Buys 108,628 Shares of Victoria's Secret & Co. $VSXY

Key Points

• Fulcrum Asset Management increased its Victoria’s Secret stake by 57,172.6%, buying 108,628 shares in the third quarter to hold 108,818 shares, worth about $9.71 million. Institutional investors and hedge funds own 90.29% of the stock.
• Analysts give the stock a “Moderate Buy” consensus, with an average price target of $93.67; eight analysts rate it Buy and seven rate it Hold.
• Victoria’s Secret beat quarterly EPS estimates, reporting $0.95 per share versus $0.77 expected, while revenue rose 10.4% year over year to $1.61 billion—slightly below analysts’ forecast.

Fulcrum Asset Management LLP lifted its stake in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 57,172.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,818 shares of the company's stock after buying an additional 108,628 shares during the quarter. Fulcrum Asset Management LLP owned 0.14% of Victoria's Secret & Co. worth $9,710,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Victoria's Secret & Co. by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,943,417 shares of the company's stock worth $90,066,000 after acquiring an additional 50,007 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 valued at $62,271,000 after purchasing an additional 12,238 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Victoria's Secret & Co. during the second quarter valued at approximately $39,803,000. Baird Financial Group Inc. acquired a new position in shares of Victoria's Secret & Co. during the second quarter worth $30,622,000. Finally, Bank of America Corp DE lifted its position in shares of Victoria's Secret & Co. by 61.9% during the first quarter. Bank of America Corp DE now owns 632,358 shares of the company's stock worth $29,316,000 after purchasing an additional 241,660 shares in the last quarter. 90.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC started coverage on shares of Victoria's Secret & Co. in a research note on Friday, October 16th. They issued a "buy" rating and a $106.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Victoria's Secret & Co. from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 3rd. Morgan Stanley lifted their price target on shares of Victoria's Secret & Co. from $101.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, October 19th. Wall Street Zen upgraded shares of Victoria's Secret & Co. from a "hold" rating to a "buy" rating in a report on Saturday, October 17th. Finally, Barclays boosted their price objective on shares of Victoria's Secret & Co. from $106.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, October 20th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.67.

Victoria's Secret & Co. Price Performance

VSXY stock opened at $107.93 on Monday. 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 $33.61 and a 52-week high of $110.27. The stock's 50 day moving average is $87.12 and its two-hundred day moving average is $70.77. The company has a market capitalization of $8.61 billion, a PE ratio of 31.28, a P/E/G ratio of 0.72 and a beta of 2.11.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last announced its earnings results on Thursday, September 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.18. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Victoria's Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%. Victoria's Secret & Co.'s revenue was up 10.4% on a year-over-year basis. Analysts predict that Victoria's Secret & Co. will post 4.75 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Melinda McAfee sold 7,000 shares of the company's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $98.90, for a total value of $692,300.00. Following the sale, the insider directly owned 156,817 shares of the company's stock, valued at $15,509,201.30. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,000 shares of company stock valued at $1,339,750 in the last three months. 0.52% of the stock is currently owned by insiders.

About Victoria's Secret & Co.

Victoria's Secret & Co is a specialty retailer focused on intimate apparel, beauty products and related merchandise. Its offerings include bras, lingerie, panties, sleepwear, apparel, fragrances and body care products.

The company operates under the Victoria's Secret and PINK brands and also owns Adore Me, an intimate-apparel brand with a digital-first business. It serves customers through stores and e-commerce, primarily in North America, as well as through international operations and partners.

Victoria's Secret traces its origins to a lingerie retailer founded in 1977.

Want to see what other hedge funds are holding VSXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Victoria's Secret & Co. (NYSE:VSXY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.