JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Victoria's Secret & Co. (NYSE:VSXY) Stock

Key Points

• JPMorgan raised its price target on Victoria’s Secret & Co. from $77 to $88 and kept an overweight rating, implying about 18.26% upside from the prior close.
• The company recently reported better-than-expected quarterly results, with EPS of $0.60 versus $0.29 expected and revenue of $1.56 billion versus $1.52 billion estimated.
• Analyst sentiment is broadly positive: several firms have raised targets or upgraded the stock, and MarketBeat cites a Moderate Buy consensus with an average price target of $82.60.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) had its price target upped by analysts at JPMorgan Chase & Co. from $77.00 to $88.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 18.26% from the stock's previous close.

A number of other equities research analysts also recently commented on VSXY. Bank of America upgraded shares of Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $58.00 to $68.00 in a report on Wednesday, April 29th. 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. Barclays lifted their target price on shares of Victoria's Secret & Co. from $67.00 to $108.00 and gave the stock an "overweight" rating in a research note on Wednesday. UBS Group cut Victoria's Secret & Co. from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $81.00 to $90.00 in a report on Wednesday. Finally, Zacks Research upgraded Victoria's Secret & Co. from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $82.60.

Victoria's Secret & Co. Stock Performance

Victoria's Secret & Co. stock opened at $74.41 on Monday. Victoria's Secret & Co. has a fifty-two week low of $17.53 and a fifty-two week high of $81.28. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 40.01, a PEG ratio of 0.67 and a beta of 2.16. The stock has a fifty day moving average of $51.60 and a two-hundred day moving average of $52.87. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.54 and a current ratio of 1.25.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.31. Victoria's Secret & Co. had a return on equity of 38.95% and a net margin of 3.11%.The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company earned $0.09 earnings per share. On average, analysts anticipate that Victoria's Secret & Co. will post 4.07 EPS for the current fiscal year.

Insider Activity at Victoria's Secret & Co.

In other news, Director Anne Sheehan purchased 4,842 shares of the company's stock in a transaction on Thursday, April 2nd. The stock was bought at an average cost of $45.86 per share, for a total transaction of $222,054.12. Following the completion of the purchase, the director directly owned 34,261 shares of the company's stock, valued at $1,571,209.46. The trade was a 16.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $80.11, for a total value of $88,735,603.92. Following the completion of the transaction, the insider owned 9,202,959 shares in the company, valued at approximately $737,249,045.49. This trade represents a 10.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VSXY. Parallel Advisors LLC grew its stake in Victoria's Secret & Co. by 666.7% during the first quarter. Parallel Advisors LLC now owns 621 shares of the company's stock worth $29,000 after buying an additional 540 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Victoria's Secret & Co. in the 3rd quarter valued at $30,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Victoria's Secret & Co. during the 4th quarter valued at $33,000. Hantz Financial Services Inc. lifted its holdings in shares of Victoria's Secret & Co. by 104.3% during the 4th quarter. Hantz Financial Services Inc. now owns 811 shares of the company's stock valued at $44,000 after acquiring an additional 414 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Victoria's Secret & Co. during the 3rd quarter worth $48,000. Hedge funds and other institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Company 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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