Victoria's Secret & Co. (NYSE:VSXY) Major Shareholder International Pte Ltd Bbrc Sells 27,758 Shares

Key Points

• Major shareholder International Pte Ltd Bbrc sold 27,758 shares of Victoria's Secret & Co. on June 4 at an average price of $80.03, trimming its ownership by 0.30%. The filing also notes a much larger sale on June 2 of 1.11 million shares for about $88.7 million.
• Victoria's Secret stock fell 7.4% on the session to $73.09, though it remains near its 52-week high of $81.28. The company’s market cap is about $5.81 billion, with trading volume running above average.
• The company recently beat earnings expectations, reporting $0.60 EPS versus $0.29 expected and revenue of $1.56 billion versus $1.52 billion expected. Analysts remain generally constructive, with a consensus rating of “Moderate Buy” and an average price target of $79.80.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) major shareholder International Pte Ltd Bbrc sold 27,758 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $80.03, for a total transaction of $2,221,472.74. Following the completion of the transaction, the insider owned 9,175,201 shares of the company's stock, valued at $734,291,336.03. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• On Tuesday, June 2nd, International Pte Ltd Bbrc sold 1,107,672 shares of Victoria's Secret & Co. stock. The shares were sold at an average price of $80.11, for a total transaction of $88,735,603.92.

Victoria's Secret & Co. Stock Down 7.4%

Shares of VSXY stock traded down $5.87 on Thursday, hitting $73.09. The stock had a trading volume of 4,076,460 shares, compared to its average volume of 3,016,558. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 39.30, a P/E/G ratio of 1.36 and a beta of 2.16. The stock's 50 day moving average is $51.00 and its 200-day moving average is $52.60. 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. has a 52-week low of $17.53 and a 52-week high of $81.28.

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last announced 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. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.52 billion. Victoria's Secret & Co. had a net margin of 3.11% and a return on equity of 38.95%. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, research analysts expect that Victoria's Secret & Co. will post 3.49 earnings per share for the current year.

More Victoria's Secret & Co. News

Here are the key news stories impacting Victoria's Secret & Co. this week:

• Positive Sentiment: Victoria's Secret posted stronger-than-expected Q1 results, with sales and earnings topping guidance and management raising its full-year outlook. Reuters article
• Positive Sentiment: Wells Fargo and Telsey Advisory Group both raised their price targets to $90 and maintained bullish ratings, reinforcing confidence in the turnaround story. Benzinga article
• Positive Sentiment: All three independent proxy advisors recommended shareholders vote for the company’s nominees, reducing governance-related uncertainty ahead of the annual meeting. GlobeNewswire article
• Neutral Sentiment: Several commentary pieces highlighted that the stock’s sharp rally has pushed valuation higher, and one Seeking Alpha note downgraded the shares to Hold because the risk/reward is less compelling after the surge.
• Neutral Sentiment: Market commentary points to Victoria's Secret’s brand reset, improved pricing power, and revived core identity as the basis for the stock’s recent momentum.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VSXY. Baird Financial Group Inc. bought a new position in Victoria's Secret & Co. during the 1st quarter valued at $233,000. Royal Bank of Canada grew its position in shares of Victoria's Secret & Co. by 279.1% during the 1st quarter. Royal Bank of Canada now owns 47,839 shares of the company's stock valued at $888,000 after buying an additional 35,220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Victoria's Secret & Co. by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company's stock valued at $1,170,000 after buying an additional 1,797 shares during the last quarter. Invesco Ltd. grew its position in shares of Victoria's Secret & Co. by 8.0% during the 2nd quarter. Invesco Ltd. now owns 772,884 shares of the company's stock valued at $14,314,000 after buying an additional 57,048 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Victoria's Secret & Co. by 194.4% during the 2nd quarter. First Trust Advisors LP now owns 152,625 shares of the company's stock valued at $2,827,000 after buying an additional 100,787 shares during the last quarter. 90.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Victoria's Secret & Co. from $57.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday. Bank of America upgraded shares of Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and upped their target price for the company from $58.00 to $68.00 in a research note on Wednesday, April 29th. Jefferies Financial Group downgraded shares of Victoria's Secret & Co. from a "buy" rating to a "hold" rating and increased their price objective for the company from $65.00 to $73.00 in a research note on Wednesday. Wall Street Zen downgraded shares of Victoria's Secret & Co. from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 5th. Finally, UBS Group downgraded shares of Victoria's Secret & Co. from a "buy" rating to a "neutral" rating and increased their price objective for the company from $81.00 to $90.00 in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Victoria's Secret & Co. has a consensus rating of "Moderate Buy" and an average price target of $79.80.

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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