Tidal Investments LLC Invests $2.31 Million in Victoria's Secret & Co. $VSXY

Key Points

• Tidal Investments initiated a $2.31 million position in Victoria’s Secret & Co. during the second quarter, buying 27,644 shares. Institutional investors collectively own 90.29% of the company.
• Analyst sentiment remains mixed: six analysts rate the stock a Buy and eight rate it a Hold, producing a consensus Hold rating and an average price target of $89.
• Victoria’s Secret exceeded quarterly EPS expectations, reporting $0.95 versus the $0.77 consensus, while revenue rose 10.4% year over year to $1.61 billion. Shares opened at $73.75, well below their 52-week high of $102.46.

Tidal Investments LLC bought a new position in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,644 shares of the company's stock, valued at approximately $2,308,000.

A number of other hedge funds have also added to or reduced their stakes in VSXY. Integrated Wealth Concepts LLC bought a new stake in Victoria's Secret & Co. during the 2nd quarter worth about $49,000. Squarepoint Ops LLC bought a new position in shares of Victoria's Secret & Co. in the 2nd quarter valued at about $39,803,000. Baird Financial Group Inc. acquired a new stake in shares of Victoria's Secret & Co. in the second quarter valued at about $30,622,000. Allworth Financial LP acquired a new stake in shares of Victoria's Secret & Co. in the second quarter valued at about $278,000. Finally, Arizona State Retirement System bought a new stake in Victoria's Secret & Co. during the second quarter worth about $1,576,000. Institutional investors own 90.29% of the company's stock.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of Victoria's Secret & Co. stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total transaction of $71,223,718.00. Following the completion of the transaction, the insider directly owned 7,810,631 shares in the company, valued at approximately $696,317,753.65. The trade was a 9.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 1,364,570 shares of company stock valued at $121,396,640 over the last ninety days. Company insiders own 0.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on VSXY shares. Wells Fargo & Company increased their price target on Victoria's Secret & Co. from $57.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, June 3rd. Wall Street Zen raised Victoria's Secret & Co. from a "hold" rating to a "buy" rating in a research report on Sunday. UBS Group lowered their price target on Victoria's Secret & Co. from $95.00 to $87.00 and set a "neutral" rating on the stock in a research report on Friday, September 4th. Zacks Research cut Victoria's Secret & Co. from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 11th. Finally, TD Cowen increased their price objective on Victoria's Secret & Co. from $75.00 to $80.00 and gave the company a "hold" rating in a report on Tuesday, August 18th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $89.00.

Victoria's Secret & Co. Stock Up 1.6%

Shares of VSXY stock opened at $73.75 on Thursday. Victoria's Secret & Co. has a 52-week low of $25.09 and a 52-week high of $102.46. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 0.49 and a beta of 2.05. The firm's 50-day moving average is $84.75 and its 200-day moving average is $67.52. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.57 and a current ratio of 1.36.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.18. The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.62 billion. Victoria's Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%.The business's revenue was up 10.4% compared to the same quarter last year. Sell-side analysts predict that Victoria's Secret & Co. will post 4.69 EPS for the current year.

Victoria's Secret & Co. Company Profile

Victoria's Secret & Co is a specialty retailer focused on intimate apparel, lingerie, beauty products and related accessories. Its portfolio includes the Victoria's Secret brand, which offers bras, panties, sleepwear, swimwear, apparel, fragrances and body-care products, and PINK, which targets younger consumers with lingerie, loungewear, apparel, beauty products and accessories.

The company also owns Adore Me, a digitally focused intimates brand offering lingerie and related apparel.

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