Victoria's Secret & Co. $VSXY Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 482,617 shares of the company's stock after selling 12,969 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Victoria's Secret & Co. worth $22,374,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Bbfit Investments PTE Ltd. purchased a new position in shares of Victoria's Secret & Co. in the fourth quarter worth $558,521,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Victoria's Secret & Co. during the fourth quarter valued at $87,786,000. Marshall Wace LLP grew its holdings in shares of Victoria's Secret & Co. by 301.4% during the fourth quarter. Marshall Wace LLP now owns 1,792,727 shares of the company's stock valued at $97,112,000 after buying an additional 1,346,104 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Victoria's Secret & Co. by 1,454.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,045,465 shares of the company's stock valued at $56,634,000 after acquiring an additional 978,194 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Victoria's Secret & Co. in the 3rd quarter valued at $20,870,000. 90.29% of the stock is currently owned by institutional investors and hedge funds.

Victoria's Secret & Co. Price Performance

Shares of Victoria's Secret & Co. stock opened at $89.04 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 1.26 and a debt-to-equity ratio of 1.17. Victoria's Secret & Co. has a twelve month low of $18.04 and a twelve month high of $90.68. The business has a 50-day moving average price of $75.26 and a 200 day moving average price of $61.23. The firm has a market cap of $7.07 billion, a PE ratio of 47.87, a P/E/G ratio of 0.67 and a beta of 2.07.

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 for the quarter, topping analysts' consensus estimates of $0.29 by $0.31. Victoria's Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.The company had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the firm posted $0.09 EPS. Sell-side analysts predict that Victoria's Secret & Co. will post 4.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

VSXY has been the subject of a number of research reports. Jefferies Financial Group cut Victoria's Secret & Co. from a "buy" rating to a "hold" rating and lifted their price target for the stock from $65.00 to $73.00 in a research report on Wednesday, June 3rd. Wells Fargo & Company increased their price target on Victoria's Secret & Co. from $57.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price objective on Victoria's Secret & Co. from $88.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday. UBS Group cut Victoria's Secret & Co. from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $81.00 to $90.00 in a report on Wednesday, June 3rd. Finally, Morgan Stanley restated an "overweight" rating and issued a $99.00 target price on shares of Victoria's Secret & Co. in a research note on Monday, July 6th. One equities research 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.70.

Insider Buying and Selling at Victoria's Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the 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 transaction, the insider owned 9,202,959 shares in the company, valued at $737,249,045.49. This trade represents a 10.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 1,701,080 shares of company stock worth $141,129,998. Corporate insiders own 0.52% of the company's stock.

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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