Victoria's Secret & Co. $VSXY Shares Bought by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund increased its stake in Victoria’s Secret & Co. by 65.1% in Q1, buying 22,393 additional shares for a total of 56,795 shares worth about $2.63 million.
• Wall Street sentiment is mixed but generally positive: several analysts raised price targets, and the stock now has an average “Moderate Buy” rating with a consensus target of $86.50.
• The company reported better-than-expected Q2 results, with EPS of $0.60 versus the $0.29 estimate and revenue of $1.56 billion versus $1.52 billion expected, while a major shareholder also sold more than 1.1 million shares.

Illinois Municipal Retirement Fund raised its position in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 65.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,795 shares of the company's stock after buying an additional 22,393 shares during the period. Illinois Municipal Retirement Fund owned about 0.07% of Victoria's Secret & Co. worth $2,633,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Victoria's Secret & Co. during the 4th quarter valued at about $33,000. Hantz Financial Services Inc. raised its holdings in Victoria's Secret & Co. by 104.3% in the 4th 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 period. DV Equities LLC purchased a new position in Victoria's Secret & Co. during the fourth quarter worth approximately $49,000. Quantbot Technologies LP purchased a new position in Victoria's Secret & Co. during the third quarter worth approximately $53,000. Finally, Leonteq Securities AG acquired a new stake in Victoria's Secret & Co. in the fourth quarter valued at approximately $54,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on VSXY shares. Jefferies Financial Group cut Victoria's Secret & Co. from a "buy" rating to a "hold" rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Wednesday, June 3rd. Barclays increased their target price on Victoria's Secret & Co. from $67.00 to $108.00 and gave the company an "overweight" rating in a research report on Wednesday, June 3rd. Bank of America raised shares of Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $58.00 to $68.00 in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Victoria's Secret & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company increased their price objective on shares of Victoria's Secret & Co. from $57.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Victoria's Secret & Co. has an average rating of "Moderate Buy" and an average price target of $86.50.

Insiders Place Their Bets

In related news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the completion of the sale, the insider owned 9,202,959 shares of the company's stock, valued at approximately $737,249,045.49. This represents a 10.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,411,601 shares of company stock worth $115,398,210 in the last quarter. Insiders own 0.52% of the company's stock.

Victoria's Secret & Co. Price Performance

Shares of Victoria's Secret & Co. stock opened at $81.31 on Monday. The business has a 50 day simple moving average of $69.59 and a two-hundred day simple moving average of $59.73. Victoria's Secret & Co. has a 12 month low of $18.04 and a 12 month high of $88.57. The stock has a market capitalization of $6.46 billion, a P/E ratio of 43.72, a PEG ratio of 0.64 and a beta of 2.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.26 and a quick ratio of 0.41.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last released its earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 3.11% and a return on equity of 38.03%. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, analysts predict that Victoria's Secret & Co. will post 4.65 EPS for the current fiscal year.

Victoria's Secret & Co. 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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