Victoria's Secret & Co. (NYSE:VSXY) Insider Melinda Mcafee Sells 4,500 Shares of Company Stock

Key Points

• Insider sale: Melinda Mcafee sold 4,500 Victoria’s Secret shares for approximately $409,950 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 2.63% to 166,317 shares.
• Stock performance and results: VSXY fell 4.5% to $85.36, despite the company reporting quarterly EPS of $0.95, exceeding estimates of $0.77, and revenue growth of 10.4% year over year.
• Analyst outlook: Analysts have a consensus “Hold” rating and an average price target of $89.91, while institutional investors own approximately 90.29% of the company’s shares.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) insider Melinda Mcafee sold 4,500 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $91.10, for a total value of $409,950.00. Following the sale, the insider directly owned 166,317 shares of the company's stock, valued at approximately $15,151,478.70. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Victoria's Secret & Co. Stock Down 4.5%

VSXY traded down $4.05 during trading on Tuesday, reaching $85.36. The company had a trading volume of 2,040,442 shares, compared to its average volume of 2,131,000. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.36 and a quick ratio of 0.57. Victoria's Secret & Co. has a 12 month low of $28.04 and a 12 month high of $102.46. The business's fifty day moving average price is $85.34 and its 200 day moving average price is $70.62. The company has a market cap of $6.81 billion, a P/E ratio of 24.74, a PEG ratio of 0.62 and a beta of 2.01.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last issued 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 net margin of 5.46% and a return on equity of 40.43%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts anticipate that Victoria's Secret & Co. will post 4.69 EPS for the current year.

Institutional Investors Weigh In On Victoria's Secret & Co.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VSXY. Sequoia Financial Advisors LLC acquired a new position in shares of Victoria's Secret & Co. during the 2nd quarter worth about $405,000. Tidal Investments LLC acquired a new stake in shares of Victoria's Secret & Co. in the second quarter valued at about $2,308,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Victoria's Secret & Co. in the second quarter valued at about $49,000. Squarepoint Ops LLC bought a new stake in Victoria's Secret & Co. during the second quarter worth about $39,803,000. Finally, Baird Financial Group Inc. bought a new stake in Victoria's Secret & Co. during the second quarter worth about $30,622,000. 90.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on VSXY. JPMorgan Chase & Co. lifted their price target on Victoria's Secret & Co. from $88.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. TD Cowen increased their price objective on Victoria's Secret & Co. from $75.00 to $80.00 and gave the stock a "hold" rating in a report on Tuesday, August 18th. BMO Capital Markets started coverage on Victoria's Secret & Co. in a report on Tuesday, September 8th. They set a "market perform" rating and a $80.00 price objective for the company. Zacks Research lowered Victoria's Secret & Co. from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 11th. Finally, Wells Fargo & Company boosted their target price on Victoria's Secret & Co. from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Tuesday, September 29th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $89.91.

About Victoria's Secret & Co.

Victoria's Secret & Co is a specialty retailer focused on women's intimate apparel, lingerie, beauty products, sleepwear, loungewear and related accessories. Its portfolio includes the Victoria's Secret brand, which offers bras, panties, sleepwear, apparel, fragrances and body-care products, and PINK, a lifestyle brand serving younger consumers with intimates, apparel, beauty products and accessories. The company also owns Adore Me, a digitally focused intimate-apparel brand.

The company sells its products through company-operated stores, digital platforms and selected wholesale and partner channels.

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.