Royal Bank of Canada Has $7.26 Million Stock Position in Victoria's Secret & Co. $VSXY

Key Points

• Royal Bank of Canada reduced its Victoria’s Secret stake by 13%, selling 23,365 shares and retaining 156,608 shares valued at approximately $7.26 million. Institutional investors collectively own 90.29% of the company.
• Victoria’s Secret shares opened at $99.77, near their 52-week high of $102.46. The company reported quarterly EPS of $0.60, beating estimates of $0.29, while revenue of $1.56 billion exceeded expectations.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $88.70, although UBS and Jefferies downgraded the stock to “neutral” and “hold.” Insiders have sold 2.5 million shares worth about $212.4 million over the past 90 days.

Royal Bank of Canada cut its holdings in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,608 shares of the company's stock after selling 23,365 shares during the quarter. Royal Bank of Canada owned 0.20% of Victoria's Secret & Co. worth $7,260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Victoria's Secret & Co. by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,760,139 shares of the company's stock valued at $95,365,000 after acquiring an additional 47,462 shares during the period. Landscape Capital Management L.L.C. grew its holdings in Victoria's Secret & Co. by 47.5% in the fourth quarter. Landscape Capital Management L.L.C. now owns 177,423 shares of the company's stock worth $9,611,000 after purchasing an additional 57,133 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Victoria's Secret & Co. by 212.4% in the first quarter. Sequoia Financial Advisors LLC now owns 18,754 shares of the company's stock worth $869,000 after purchasing an additional 12,750 shares during the period. Apollon Wealth Management LLC bought a new stake in Victoria's Secret & Co. in the first quarter valued at $940,000. Finally, Comerica Bank increased its stake in Victoria's Secret & Co. by 129.3% in the fourth quarter. Comerica Bank now owns 51,224 shares of the company's stock valued at $2,775,000 after purchasing an additional 28,889 shares in the last quarter. 90.29% of the stock is currently owned by institutional investors.

Victoria's Secret & Co. Trading Up 1.2%

NYSE:VSXY opened at $99.77 on Tuesday. Victoria's Secret & Co. has a 52 week low of $20.48 and a 52 week high of $102.46. The firm has a 50-day moving average price of $82.09 and a two-hundred day moving average price of $63.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 53.64, a price-to-earnings-growth ratio of 0.77 and a beta of 2.06.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last announced its earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.31. The firm 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 quarter in the previous year, the business earned $0.09 EPS. On average, equities analysts expect that Victoria's Secret & Co. will post 4.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VSXY shares. UBS Group cut shares of Victoria's Secret & Co. from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $81.00 to $90.00 in a research report 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 company an "overweight" rating in a research report on Tuesday, July 28th. Weiss Ratings raised Victoria's Secret & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 24th. Telsey Advisory Group increased their price target on Victoria's Secret & Co. from $71.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Finally, Jefferies Financial Group cut Victoria's Secret & Co. from a "buy" rating to a "hold" rating and raised their price objective for the company from $65.00 to $73.00 in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Victoria's Secret & Co. presently has a consensus rating of "Moderate Buy" and an average target price of $88.70.

Insider Buying and Selling

In other Victoria's Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the business's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total value of $71,223,718.00. Following the transaction, the insider owned 7,810,631 shares of the company's stock, valued at approximately $696,317,753.65. The trade was a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,500,000 shares of company stock worth $212,353,716 in the last 90 days. Company insiders own 0.52% of the company's stock.

About Victoria's Secret & Co.

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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