Victoria's Secret & Co. (NYSE:VSXY) Hits New 1-Year High Following Analyst Upgrade

Key Points

• Victoria’s Secret shares reached a new 52-week high after JPMorgan raised its price target from $88 to $110 while maintaining an overweight rating. The stock traded as high as $90.10 and was recently up 4.8%.
• Analysts broadly view the stock favorably, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $88.70. The company also exceeded quarterly expectations, reporting $0.60 in EPS versus the $0.29 consensus and revenue of $1.56 billion.
• Insiders have been selling shares, including a major shareholder’s $25.7 million sale, with insiders disposing of approximately $141.1 million in stock over the past quarter. Institutional investors own 90.29% of the company.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $88.00 to $110.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Victoria's Secret & Co. traded as high as $90.10 and last traded at $89.59, with a volume of 1062244 shares. The stock had previously closed at $85.32.

Several other research analysts have also issued reports on VSXY. The Goldman Sachs Group increased their target price on shares of 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. Wall Street Zen downgraded Victoria's Secret & Co. from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 5th. Weiss Ratings raised Victoria's Secret & Co. from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $99.00 price target on shares of Victoria's Secret & Co. in a research report on Monday, July 6th. Finally, Jefferies Financial Group lowered Victoria's Secret & Co. from a "buy" rating to a "hold" rating and lifted their price target for the stock from $65.00 to $73.00 in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Victoria's Secret & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $88.70.

Insider Activity at Victoria's Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc sold 289,479 shares of the company's stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $88.89, for a total value of $25,731,788.31. Following the transaction, the insider owned 8,609,551 shares in the company, valued at approximately $765,302,988.39. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 1,701,080 shares of company stock valued at $141,129,998. Insiders own 0.52% of the company's stock.

Institutional Trading of Victoria's Secret & Co.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bbfit Investments PTE Ltd. bought a new stake in Victoria's Secret & Co. during the 4th quarter valued at $558,521,000. Vanguard Group Inc. boosted its position in shares of Victoria's Secret & Co. by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 8,748,614 shares of the company's stock valued at $473,912,000 after acquiring an additional 263,079 shares during the period. Dimensional Fund Advisors LP lifted its stake in Victoria's Secret & Co. by 10.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,549,501 shares of the company's stock worth $69,187,000 after purchasing an additional 238,516 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Victoria's Secret & Co. by 11.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,366 shares of the company's stock worth $108,956,000 after purchasing an additional 199,170 shares during the period. Finally, Marshall Wace LLP increased its stake in Victoria's Secret & Co. by 301.4% in the 4th quarter. Marshall Wace LLP now owns 1,792,727 shares of the company's stock worth $97,112,000 after acquiring an additional 1,346,104 shares during the last quarter. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Stock Up 4.8%

The company has a debt-to-equity ratio of 1.17, a current ratio of 1.26 and a quick ratio of 0.41. The company has a market cap of $7.10 billion, a PE ratio of 48.06, a price-to-earnings-growth ratio of 0.65 and a beta of 2.07. The company has a fifty day moving average price of $74.38 and a 200 day moving average price of $61.03.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the prior year, the business earned $0.09 EPS. As a group, analysts anticipate that Victoria's Secret & Co. will post 4.65 EPS for the current year.

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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