Peregrine Capital Management LLC Reduces Holdings in Victoria's Secret & Co. $VSXY

Key Points

• Peregrine Capital Management cut its stake in Victoria's Secret & Co. by 47.4% in the first quarter, leaving it with 73,883 shares valued at about $3.43 million.
• Victoria's Secret reported better-than-expected quarterly results, posting EPS of $0.60 versus the $0.29 estimate and revenue of $1.56 billion versus $1.52 billion expected.
• Analysts have become more bullish on the stock, with several raising price targets; MarketBeat shows a consensus rating of “Moderate Buy” and an average target price of $82.60.

Peregrine Capital Management LLC lowered its position in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 47.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,883 shares of the company's stock after selling 66,587 shares during the quarter. Peregrine Capital Management LLC owned about 0.09% of Victoria's Secret & Co. worth $3,425,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Victoria's Secret & Co. during the 4th quarter valued at about $33,000. Hantz Financial Services Inc. lifted its stake in Victoria's Secret & Co. by 104.3% in the fourth quarter. Hantz Financial Services Inc. now owns 811 shares of the company's stock worth $44,000 after purchasing an additional 414 shares during the last quarter. DV Equities LLC purchased a new position in shares of Victoria's Secret & Co. during the fourth quarter valued at approximately $49,000. Leonteq Securities AG bought a new position in shares of Victoria's Secret & Co. during the fourth quarter valued at approximately $54,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Victoria's Secret & Co. by 48.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,122 shares of the company's stock valued at $61,000 after buying an additional 364 shares during the last quarter. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Stock Down 1.6%

Shares of NYSE VSXY opened at $76.46 on Friday. Victoria's Secret & Co. has a 52-week low of $17.53 and a 52-week high of $88.57. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 0.61 and a beta of 2.07. The stock has a 50 day moving average price of $63.40 and a 200 day moving average price of $57.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26.

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 the consensus estimate of $0.29 by $0.31. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate 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 EPS. Sell-side analysts expect that Victoria's Secret & Co. will post 4.61 earnings per share for the current year.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the firm's stock in a transaction on 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 transaction, the insider owned 9,202,959 shares in the company, valued at approximately $737,249,045.49. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 1,411,601 shares of company stock worth $115,398,210. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Telsey Advisory Group raised their price target on Victoria's Secret & Co. from $71.00 to $90.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. 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 report on Wednesday, June 3rd. Wells Fargo & Company increased 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. Bank of America upgraded Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $58.00 to $68.00 in a research report on Wednesday, April 29th. Finally, Zacks Research raised shares of Victoria's Secret & Co. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $82.60.

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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