TD Cowen Issues Positive Forecast for Victoria's Secret & Co. (NYSE:VSXY) Stock Price

Key Points

• TD Cowen raised its price target for Victoria’s Secret & Co. from $75 to $80 while maintaining a “Hold” rating, implying 5.45% downside from the prior close.
• Analyst sentiment is more positive overall, with a consensus “Moderate Buy” rating and an average price target of $89.70; targets from other firms range as high as $110.
• The company exceeded quarterly expectations, reporting $0.60 in earnings per share versus a $0.29 estimate and revenue of $1.56 billion, while insiders sold approximately $212.4 million of stock over the past three months.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) had its target price boosted by investment analysts at TD Cowen from $75.00 to $80.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. TD Cowen's price objective points to a potential downside of 5.45% from the stock's previous close.

VSXY has been the topic of a number of other reports. The Goldman Sachs Group increased their price objective on shares of Victoria's Secret & Co. from $56.00 to $84.00 and gave the company a "neutral" rating in a research note on Wednesday, June 3rd. Barclays upped their price target on shares of Victoria's Secret & Co. from $67.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. Telsey Advisory Group increased their price target on shares of Victoria's Secret & Co. from $71.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. raised their price objective on shares of Victoria's Secret & Co. from $88.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Finally, Morgan Stanley restated an "overweight" rating and set a $99.00 price objective on shares of Victoria's Secret & Co. in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Victoria's Secret & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.70.

Victoria's Secret & Co. Price Performance

VSXY stock traded up $0.51 during midday trading on Tuesday, hitting $84.61. 139,152 shares of the stock were exchanged, compared to its average volume of 2,175,225. The stock's 50-day moving average price is $83.98 and its 200-day moving average price is $64.18. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 0.70 and a beta of 2.06. Victoria's Secret & Co. has a fifty-two week low of $21.23 and a fifty-two week high of $102.46.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company earned $0.09 earnings per share. Research analysts predict that Victoria's Secret & Co. will post 4.67 earnings per share for the current year.

Insiders Place Their Bets

In other Victoria's Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the transaction, the insider owned 9,202,959 shares of the company's stock, valued at $737,249,045.49. This represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders sold 2,500,000 shares of company stock valued at $212,353,716. Insiders own 0.52% of the company's stock.

Hedge Funds Weigh In On Victoria's Secret & Co.

Several large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in Victoria's Secret & Co. in the 2nd quarter worth about $209,000. Bank of America Corp DE increased its stake in shares of Victoria's Secret & Co. by 61.9% during the 1st quarter. Bank of America Corp DE now owns 632,358 shares of the company's stock valued at $29,316,000 after acquiring an additional 241,660 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Victoria's Secret & Co. by 113.9% during the 1st quarter. Edgestream Partners L.P. now owns 32,718 shares of the company's stock worth $1,517,000 after acquiring an additional 17,425 shares during the period. Janus Henderson Group PLC boosted its position in shares of Victoria's Secret & Co. by 3.5% in the first quarter. Janus Henderson Group PLC now owns 57,928 shares of the company's stock worth $2,685,000 after acquiring an additional 1,974 shares during the last quarter. Finally, Amundi boosted its position in shares of Victoria's Secret & Co. by 28.8% in the first quarter. Amundi now owns 20,308 shares of the company's stock worth $941,000 after acquiring an additional 4,537 shares during the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

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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