Victoria's Secret & Co. $VSXY Shares Sold by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management cut its Victoria’s Secret & Co. stake by 10.5% in the fourth quarter, selling 68,142 shares and leaving it with 581,951 shares worth about $31.5 million.
• The company’s latest quarterly results beat expectations, with EPS of $0.60 versus the $0.29 consensus and revenue of $1.56 billion versus $1.52 billion expected.
• Analyst sentiment has improved overall: the stock has a Moderate Buy consensus with an average price target of $82.60, though recent ratings were mixed with both upgrades and a downgrade.

Bridgeway Capital Management LLC lowered its stake in shares of Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 581,951 shares of the company's stock after selling 68,142 shares during the quarter. Victoria's Secret & Co. comprises about 0.7% of Bridgeway Capital Management LLC's holdings, making the stock its 9th largest position. Bridgeway Capital Management LLC owned 0.72% of Victoria's Secret & Co. worth $31,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of VSXY. Baird Financial Group Inc. acquired a new position in shares of Victoria's Secret & Co. during the 1st quarter valued at about $233,000. Royal Bank of Canada increased its stake in shares of Victoria's Secret & Co. by 279.1% during the 1st quarter. Royal Bank of Canada now owns 47,839 shares of the company's stock valued at $888,000 after acquiring an additional 35,220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Victoria's Secret & Co. by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company's stock valued at $1,170,000 after acquiring an additional 1,797 shares during the last quarter. Invesco Ltd. increased its stake in shares of Victoria's Secret & Co. by 8.0% during the 2nd quarter. Invesco Ltd. now owns 772,884 shares of the company's stock valued at $14,314,000 after acquiring an additional 57,048 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Victoria's Secret & Co. by 194.4% during the 2nd quarter. First Trust Advisors LP now owns 152,625 shares of the company's stock valued at $2,827,000 after acquiring an additional 100,787 shares during the last quarter. Institutional investors and hedge funds own 90.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. TD Cowen upped their price objective on shares of Victoria's Secret & Co. from $50.00 to $75.00 and gave the company a "hold" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. increased their target price on shares of Victoria's Secret & Co. from $77.00 to $88.00 and gave the stock an "overweight" rating in a research report on Monday, June 8th. 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. Bank of America raised shares of Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and increased their target price for the stock from $58.00 to $68.00 in a research report on Wednesday, April 29th. Finally, UBS Group downgraded shares of Victoria's Secret & Co. from a "buy" rating to a "neutral" rating and increased their target price for the stock from $81.00 to $90.00 in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $82.60.

Victoria's Secret & Co. Stock Down 0.2%

NYSE VSXY opened at $78.57 on Thursday. The stock has a market cap of $6.24 billion, a PE ratio of 42.24, a P/E/G ratio of 0.62 and a beta of 2.16. Victoria's Secret & Co. has a fifty-two week low of $17.53 and a fifty-two week high of $82.99. The business has a 50 day moving average price of $56.72 and a two-hundred day moving average price of $55.16. 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. (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. The firm had revenue of $1.56 billion during the quarter, compared to analysts' expectations 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 prior year, the business earned $0.09 EPS. As a group, sell-side analysts predict that Victoria's Secret & Co. will post 4.61 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Donna James purchased 2,175 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was purchased at an average price of $46.23 per share, for a total transaction of $100,550.25. Following the acquisition, the director directly owned 63,097 shares in the company, valued at $2,916,974.31. The trade was a 3.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total value of $88,735,603.92. Following the transaction, the insider owned 9,202,959 shares of the company's stock, valued at approximately $737,249,045.49. This trade represents a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.52% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding VSXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Victoria's Secret & Co. (NYSE:VSXY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.