Victoria's Secret & Co. $VSXY Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in Victoria’s Secret & Co. by 2.8% in the fourth quarter, bringing its holdings to 1,760,139 shares worth about $95.4 million.
• Several other major institutional investors also boosted positions, and overall institutional ownership stands at 90.29%; meanwhile, directors Anne Sheehan and Donna James each bought shares in early April.
• Victoria’s Secret posted a strong quarterly beat, reporting $0.60 EPS versus the $0.29 estimate and revenue of $1.56 billion, while analysts currently rate the stock Moderate Buy with an average target price of $79.80.

Geode Capital Management LLC lifted its holdings in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,760,139 shares of the company's stock after buying an additional 47,462 shares during the period. Geode Capital Management LLC owned approximately 2.19% of Victoria's Secret & Co. worth $95,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Victoria's Secret & Co. by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 8,748,614 shares of the company's stock worth $473,912,000 after buying an additional 263,079 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Victoria's Secret & Co. by 10.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,549,501 shares of the company's stock worth $69,187,000 after buying an additional 238,516 shares during the period. Cramer Rosenthal Mcglynn LLC boosted its position in shares of Victoria's Secret & Co. by 32.0% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 2,363,850 shares of the company's stock worth $64,155,000 after buying an additional 572,844 shares during the period. Bank of America Corp DE boosted its position in shares of Victoria's Secret & Co. by 44.2% during the second quarter. Bank of America Corp DE now owns 1,415,200 shares of the company's stock worth $26,210,000 after buying an additional 434,012 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Victoria's Secret & Co. by 76.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 905,160 shares of the company's stock worth $24,566,000 after buying an additional 390,789 shares during the period. 90.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Victoria's Secret & Co.

In related news, Director Anne Sheehan acquired 4,842 shares of Victoria's Secret & Co. stock in a transaction dated Thursday, April 2nd. The stock was acquired at an average cost of $45.86 per share, with a total value of $222,054.12. Following the purchase, the director directly owned 34,261 shares in the company, valued at $1,571,209.46. The trade was a 16.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna James acquired 2,175 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The stock was purchased at an average cost of $46.23 per share, with a total value of $100,550.25. Following the purchase, the director directly owned 63,097 shares in the company, valued at approximately $2,916,974.31. This trade represents a 3.57% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.52% of the company's stock.

Victoria's Secret & Co. Stock Performance

NYSE:VSXY opened at $74.41 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.54 and a debt-to-equity ratio of 1.07. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 40.01, a price-to-earnings-growth ratio of 0.67 and a beta of 2.16. Victoria's Secret & Co. has a twelve month low of $17.53 and a twelve month high of $81.28. The company has a 50-day moving average of $51.60 and a 200-day moving average of $52.75.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.31. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. Victoria's Secret & Co. had a net margin of 3.11% and a return on equity of 38.95%. During the same quarter in the previous year, the business posted $0.09 earnings per share. Analysts forecast that Victoria's Secret & Co. will post 4.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VSXY. Weiss Ratings downgraded Victoria's Secret & Co. from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, April 27th. TD Cowen boosted their price objective on Victoria's Secret & Co. from $50.00 to $75.00 and gave the stock a "hold" rating in a research report on Thursday. Zacks Research upgraded Victoria's Secret & Co. from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 10th. Jefferies Financial Group cut Victoria's Secret & Co. from a "buy" rating to a "hold" rating and boosted their target price for the stock from $65.00 to $73.00 in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on Victoria's Secret & Co. from $56.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Victoria's Secret & Co. currently has an average rating of "Moderate Buy" and an average target price of $79.80.

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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