Victoria's Secret & Co. (NYSE:VSXY) Shares Climb 5.6% - Here's What Happened

Key Points

• Victoria’s Secret shares rose 5.6% to $87.54 in Monday trading, though volume was 91% below the stock’s average session volume.
• Analyst opinions remain mixed: Morgan Stanley and Telsey raised their price targets, while UBS cut its target. The stock has a consensus “Hold” rating and an average price target of $89.
• The company’s latest quarterly results exceeded expectations, with adjusted earnings of $0.95 per share versus the $0.77 consensus estimate and revenue of $1.61 billion, up 10.4% year over year.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) was up 5.6% during trading on Monday. The company traded as high as $88.37 and last traded at $87.54. 194,832 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,134,435 shares. The stock had previously closed at $82.91.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VSXY shares. Morgan Stanley boosted their target price on shares of Victoria's Secret & Co. from $99.00 to $101.00 and gave the stock an "overweight" rating in a research note on Friday, September 4th. UBS Group cut their price objective on shares of Victoria's Secret & Co. from $95.00 to $87.00 and set a "neutral" rating on the stock in a report on Friday, September 4th. Telsey Advisory Group boosted their price target on shares of Victoria's Secret & Co. from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 2nd. Weiss Ratings raised shares of Victoria's Secret & Co. from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, September 8th. Finally, TD Cowen boosted their price target on Victoria's Secret & Co. from $75.00 to $80.00 and gave the company a "hold" rating in a research report on Tuesday, August 18th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $89.00.

Victoria's Secret & Co. Stock Up 7.9%

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.36 and a quick ratio of 0.57. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 0.56 and a beta of 2.05. The firm has a 50 day moving average price of $84.92 and a 200-day moving average price of $68.78.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.95 earnings per share 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 business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.62 billion. The firm's revenue was up 10.4% on a year-over-year basis. As a group, equities analysts predict that Victoria's Secret & Co. will post 4.69 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total transaction of $71,223,718.00. Following the transaction, the insider directly owned 7,810,631 shares of the company's stock, valued at approximately $696,317,753.65. This trade represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.52% of the company's stock.

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

Hedge funds have recently modified their holdings of the business. Bbfit Investments PTE Ltd. purchased a new position in shares of Victoria's Secret & Co. in the fourth quarter worth $558,521,000. Goldman Sachs Group Inc. grew its position in shares of Victoria's Secret & Co. by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,011,366 shares of the company's stock worth $108,956,000 after buying an additional 199,170 shares in the last quarter. Geode Capital Management LLC boosted its position in Victoria's Secret & Co. by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 1,760,139 shares of the company's stock valued at $95,365,000 after acquiring an additional 47,462 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Victoria's Secret & Co. by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,943,417 shares of the company's stock worth $90,066,000 after acquiring an additional 50,007 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Victoria's Secret & Co. by 0.9% during the first 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 during the last quarter. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Company Profile

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

The company also owns Adore Me, a digitally focused intimates brand offering lingerie and related apparel.

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