Victoria's Secret & Co. $VSXY Stake Reduced by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its Victoria’s Secret stake by 43.2% in the third quarter, selling 13,165 shares and retaining 17,332 shares valued at approximately $1.53 million. Institutional investors collectively own 90.29% of the company.
• Company insiders sold 1.09 million shares worth about $97.4 million over the last quarter, including a 798,920-share sale by major shareholder International Pte Ltd Bbrc.
• Victoria’s Secret reported quarterly EPS of $0.95, beating estimates by $0.18, while revenue rose 10.4% year over year to $1.61 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $91.50.

State of Alaska Department of Revenue trimmed its holdings in Victoria's Secret & Co. (NYSE:VSXY - Free Report) by 43.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,332 shares of the company's stock after selling 13,165 shares during the quarter. State of Alaska Department of Revenue's holdings in Victoria's Secret & Co. were worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of Victoria's Secret & Co. by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,943,417 shares of the company's stock worth $90,066,000 after purchasing an additional 50,007 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Victoria's Secret & Co. by 0.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,343,203 shares of the company's stock worth $62,271,000 after purchasing an additional 12,238 shares in the last quarter. Bank of America Corp DE lifted its stake in Victoria's Secret & Co. by 61.9% during the first quarter. Bank of America Corp DE now owns 632,358 shares of the company's stock valued at $29,316,000 after purchasing an additional 241,660 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Victoria's Secret & Co. by 39.0% during the first quarter. Principal Financial Group Inc. now owns 530,793 shares of the company's stock valued at $24,608,000 after purchasing an additional 148,876 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Victoria's Secret & Co. during the second quarter valued at approximately $39,803,000. 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 shares were sold at an average price of $89.15, for a total value of $71,223,718.00. Following the transaction, the insider directly owned 7,810,631 shares of the company's stock, valued at $696,317,753.65. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Melinda McAfee sold 4,500 shares of the business's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $91.10, for a total transaction of $409,950.00. Following the sale, the insider owned 166,317 shares in the company, valued at $15,151,478.70. This represents a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,092,899 shares of company stock valued at $97,365,456. Corporate insiders own 0.52% of the company's stock.

Victoria's Secret & Co. Trading Up 2.9%

Shares of VSXY opened at $89.84 on Tuesday. The business's 50-day moving average price is $84.49 and its 200 day moving average price is $73.60. The stock has a market capitalization of $7.17 billion, a P/E ratio of 26.04, a P/E/G ratio of 0.59 and a beta of 2.01. Victoria's Secret & Co. has a 1-year low of $30.65 and a 1-year high of $102.46. The company has a current ratio of 1.36, a quick ratio of 0.57 and a debt-to-equity ratio of 0.92.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.18. Victoria's Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. The company's revenue was up 10.4% on a year-over-year basis. Analysts expect that Victoria's Secret & Co. will post 4.69 earnings per share for the current year.

Analyst Ratings Changes

VSXY has been the subject of a number of research reports. UBS Group reduced their target price on shares of Victoria's Secret & Co. from $95.00 to $87.00 and set a "neutral" rating for the company in a report on Friday, September 4th. Weiss Ratings raised Victoria's Secret & Co. from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Needham & Company LLC initiated coverage on Victoria's Secret & Co. in a report on Friday. They issued a "buy" rating and a $106.00 price target on the stock. Wells Fargo & Company increased their price objective on Victoria's Secret & Co. from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, September 29th. Finally, Wall Street Zen raised Victoria's Secret & Co. from a "hold" rating to a "buy" rating in a research note on Saturday. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.50.

Victoria's Secret & Co. Profile

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

The company also operates Adore Me, a digitally focused intimates brand known for a broad range of sizes and subscription-based shopping options.

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