Victoria's Secret & Co. (NYSE:VSXY) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Victoria’s Secret, with six buy, six hold and one strong-buy rating; the average 12-month price target is $88.70.
• The stock opened at $89.04 after rising 4.4%, near its 12-month high of $90.68. Its latest quarterly results exceeded expectations, with EPS of $0.60 versus a $0.29 consensus and revenue of $1.56 billion.
• Institutional investors own 90.29% of the company, while insiders have sold approximately $141.1 million in shares over the past three months.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirteen ratings firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $88.70.

A number of equities research analysts have recently issued reports on VSXY shares. Telsey Advisory Group upped their target price on shares of Victoria's Secret & Co. from $71.00 to $90.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. The Goldman Sachs Group lifted their price target on 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 boosted their price objective on Victoria's Secret & Co. from $50.00 to $75.00 and gave the company a "hold" rating in a report on Thursday, June 4th. Bank of America upgraded Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and upped their price objective for the company from $58.00 to $68.00 in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group downgraded Victoria's Secret & Co. from a "buy" rating to a "hold" rating and increased their target price for the stock from $65.00 to $73.00 in a report on Wednesday, June 3rd.

Victoria's Secret & Co. Stock Up 4.4%

Shares of NYSE:VSXY opened at $89.04 on Wednesday. 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 fifty day simple moving average of $75.26 and a 200 day simple moving average of $61.23. The firm has a market cap of $7.07 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 0.67 and a beta of 2.07. Victoria's Secret & Co. has a 12-month low of $18.04 and a 12-month high of $90.68.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.31. The firm had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.52 billion. Victoria's Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. During the same period in the prior year, the company posted $0.09 earnings per share. On average, equities research analysts anticipate that Victoria's Secret & Co. will post 4.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Victoria's Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the completion of the sale, the insider owned 9,202,959 shares in the company, valued at $737,249,045.49. The trade was a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,701,080 shares of company stock valued at $141,129,998 over the last three months. Insiders own 0.52% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VSXY. Bbfit Investments PTE Ltd. bought a new stake in shares of Victoria's Secret & Co. in the 4th quarter worth approximately $558,521,000. Fuller & Thaler Asset Management Inc. acquired a new position in Victoria's Secret & Co. during the 4th quarter valued at approximately $87,786,000. Marshall Wace LLP grew its stake in Victoria's Secret & Co. by 301.4% during the 4th quarter. Marshall Wace LLP now owns 1,792,727 shares of the company's stock worth $97,112,000 after buying an additional 1,346,104 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Victoria's Secret & Co. by 1,454.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,045,465 shares of the company's stock worth $56,634,000 after buying an additional 978,194 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Victoria's Secret & Co. in the third quarter worth $20,870,000. 90.29% of the stock is owned by institutional investors and hedge funds.

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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