SG Americas Securities LLC Reduces Stock Position in Victoria's Secret & Co. $VSXY

Key Points

• SG Americas Securities LLC reduced its stake in Victoria's Secret & Co. by 43.7% in the first quarter, selling 29,315 shares and leaving it with 37,709 shares valued at about $1.75 million.
• Victoria's Secret reported stronger-than-expected quarterly results, posting $0.60 EPS versus the $0.29 estimate and revenue of $1.56 billion versus expectations of $1.52 billion.
• Despite some insider selling and a mixed analyst backdrop, the stock has risen sharply, with shares trading near $76.46 after hitting a 52-week low of $17.53 and high of $88.57; analysts currently rate it a moderate buy with an average target of $82.60.

SG Americas Securities LLC cut its stake in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 43.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,709 shares of the company's stock after selling 29,315 shares during the quarter. SG Americas Securities LLC's holdings in Victoria's Secret & Co. were worth $1,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tabor Asset Management LP bought a new position in shares of Victoria's Secret & Co. during the 3rd quarter valued at $907,000. Geode Capital Management LLC boosted its stake in shares of Victoria's Secret & Co. by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,760,139 shares of the company's stock worth $95,365,000 after buying an additional 47,462 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Victoria's Secret & Co. in the fourth quarter worth $7,790,000. American Century Companies Inc. grew its holdings in shares of Victoria's Secret & Co. by 230.3% in the third quarter. American Century Companies Inc. now owns 781,057 shares of the company's stock worth $21,198,000 after acquiring an additional 544,554 shares during the period. Finally, Landscape Capital Management L.L.C. increased its position in Victoria's Secret & Co. by 47.5% during the fourth quarter. Landscape Capital Management L.L.C. now owns 177,423 shares of the company's stock valued at $9,611,000 after acquiring an additional 57,133 shares during the last quarter. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Price Performance

Shares of Victoria's Secret & Co. stock opened at $76.46 on Friday. The stock has a market cap of $6.07 billion, a P/E ratio of 41.11, a P/E/G ratio of 0.61 and a beta of 2.07. 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 stock's fifty day moving average is $63.40 and its 200 day moving average is $57.82. Victoria's Secret & Co. has a one year low of $17.53 and a one year high of $88.57.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $0.09 earnings per share. Sell-side analysts anticipate that Victoria's Secret & Co. will post 4.61 earnings per share for the current year.

Insider Activity

In related news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 9,202,959 shares in the company, valued at approximately $737,249,045.49. The trade was a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 1,411,601 shares of company stock worth $115,398,210. Insiders own 0.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VSXY. UBS Group downgraded Victoria's Secret & Co. from a "buy" rating to a "neutral" rating and increased their target price for the company from $81.00 to $90.00 in a report on Wednesday, June 3rd. Weiss Ratings upgraded Victoria's Secret & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 24th. Zacks Research raised shares of Victoria's Secret & Co. from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. Wells Fargo & Company increased their price objective on shares of 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. Finally, TD Cowen raised their price objective on shares of Victoria's Secret & Co. from $50.00 to $75.00 and gave the stock a "hold" rating in a report on Thursday, June 4th. One equities research 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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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