KBC Group NV Raises Stock Position in Victoria's Secret & Co. $VSXY

Key Points

• KBC Group NV boosted its stake in Victoria’s Secret & Co. by 2,247.3% in the first quarter, ending with 47,931 shares worth about $2.22 million.
• Victoria’s Secret reported strong quarterly results, posting $0.60 EPS versus the expected $0.29 and revenue of $1.56 billion, both above analyst estimates.
• Analysts are broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $86.50, while the shares recently traded near $83.14.

KBC Group NV raised its position in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 2,247.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,931 shares of the company's stock after purchasing an additional 45,889 shares during the quarter. KBC Group NV owned about 0.06% of Victoria's Secret & Co. worth $2,222,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Bbfit Investments PTE Ltd. acquired a new stake in shares of Victoria's Secret & Co. during the 4th quarter worth approximately $558,521,000. Vanguard Group Inc. lifted its holdings in Victoria's Secret & Co. by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 8,748,614 shares of the company's stock valued at $473,912,000 after acquiring an additional 263,079 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Victoria's Secret & Co. by 10.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,549,501 shares of the company's stock valued at $69,187,000 after acquiring an additional 238,516 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Victoria's Secret & Co. by 11.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,366 shares of the company's stock valued at $108,956,000 after acquiring an additional 199,170 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Victoria's Secret & Co. by 301.4% in the fourth quarter. Marshall Wace LLP now owns 1,792,727 shares of the company's stock worth $97,112,000 after acquiring an additional 1,346,104 shares during the period. Hedge funds and other institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Stock Up 0.4%

NYSE:VSXY opened at $83.14 on Friday. The company has a quick ratio of 0.41, a current ratio of 1.26 and a debt-to-equity ratio of 1.17. The stock's fifty day moving average is $73.56 and its two-hundred day moving average is $60.79. Victoria's Secret & Co. has a 52 week low of $18.04 and a 52 week high of $90.00. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 44.70, a price-to-earnings-growth ratio of 0.65 and a beta of 2.07.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.29 by $0.31. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates 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 last year, the business posted $0.09 earnings per share. Research analysts anticipate that Victoria's Secret & Co. will post 4.65 EPS for the current year.

Insider Buying and Selling

In related 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 stock was 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 directly owned 9,202,959 shares in the company, valued at $737,249,045.49. This trade represents a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 1,411,601 shares of company stock worth $115,398,210. Company insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Victoria's Secret & Co. from $57.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. 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 research note on Wednesday, June 3rd. Weiss Ratings upgraded Victoria's Secret & Co. from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 24th. Jefferies Financial Group downgraded Victoria's Secret & Co. from a "buy" rating to a "hold" rating and raised their price objective for the stock from $65.00 to $73.00 in a research report on Wednesday, June 3rd. Finally, Bank of America upgraded shares of Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $58.00 to $68.00 in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Victoria's Secret & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $86.50.

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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