Insider Selling: Victoria's Secret & Co. (NYSE:VSXY) Major Shareholder Sells $24,441,133.50 in Stock

Key Points

• Major shareholder International Pte Ltd Bbrc sold 276,171 shares of Victoria's Secret & Co. on June 26 for about $24.4 million, cutting its stake by 3.01% while still holding 8.9 million shares.
• The insider has been actively trimming its position, including two earlier June sales totaling more than 1.13 million shares and roughly $90.9 million combined.
• Victoria's Secret shares were down about 3.1% to $83.78, even after the company recently beat quarterly earnings and revenue estimates and analysts maintained a Moderate Buy consensus with an average target of $82.60.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) major shareholder International Pte Ltd Bbrc sold 276,171 shares of the firm's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $88.50, for a total transaction of $24,441,133.50. Following the transaction, the insider owned 8,899,030 shares in the company, valued at $787,564,155. This represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• On Thursday, June 4th, International Pte Ltd Bbrc sold 27,758 shares of Victoria's Secret & Co. stock. The stock was sold at an average price of $80.03, for a total transaction of $2,221,472.74.
• On Tuesday, June 2nd, International Pte Ltd Bbrc sold 1,107,672 shares of Victoria's Secret & Co. stock. The stock was sold at an average price of $80.11, for a total transaction of $88,735,603.92.

Victoria's Secret & Co. Stock Down 3.1%

NYSE VSXY traded down $2.67 during trading on Tuesday, hitting $83.78. 1,948,095 shares of the company traded hands, compared to its average volume of 2,335,659. Victoria's Secret & Co. has a 12 month low of $17.53 and a 12 month high of $88.57. The business has a fifty day simple moving average of $61.92 and a 200 day simple moving average of $57.26. The company has a current ratio of 1.26, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $6.65 billion, a P/E ratio of 45.04, a PEG ratio of 0.70 and a beta of 2.16.

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 (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $0.09 EPS. As a group, sell-side analysts predict that Victoria's Secret & Co. will post 4.61 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VSXY. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Victoria's Secret & Co. in the fourth quarter worth about $33,000. Parallel Advisors LLC grew its stake in shares of Victoria's Secret & Co. by 666.7% during the first quarter. Parallel Advisors LLC now owns 621 shares of the company's stock valued at $29,000 after purchasing an additional 540 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Victoria's Secret & Co. by 104.3% during the fourth quarter. Hantz Financial Services Inc. now owns 811 shares of the company's stock valued at $44,000 after purchasing an additional 414 shares during the last quarter. DV Equities LLC acquired a new stake in shares of Victoria's Secret & Co. in the fourth quarter valued at approximately $49,000. Finally, Leonteq Securities AG acquired a new stake in shares of Victoria's Secret & Co. in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 90.29% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on VSXY shares. Zacks Research upgraded shares of Victoria's Secret & Co. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. The Goldman Sachs Group upped their price objective on shares of Victoria's Secret & Co. from $56.00 to $84.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 3rd. TD Cowen raised their price objective on shares of Victoria's Secret & Co. from $50.00 to $75.00 and gave the stock a "hold" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on shares of Victoria's Secret & Co. from $77.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday, June 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Victoria's Secret & Co. has a consensus rating of "Moderate Buy" and an average price target of $82.60.

About Victoria's Secret & Co.

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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