Victoria's Secret & Co. (NYSE:VSXY) Major Shareholder International Pte Ltd Bbrc Sells 798,920 Shares

Key Points

• Major shareholder International Pte Ltd Bbrc sold 798,920 shares of Victoria’s Secret & Co. at an average price of $89.15, generating $71.2 million. Its remaining stake fell 9.28% to 7.81 million shares.
• Victoria’s Secret shares traded down 0.5% to $88.90, near the 52-week high of $91.46. The company recently beat quarterly earnings expectations, reporting $0.60 EPS and $1.56 billion in revenue.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $88.70; JPMorgan recently raised its target to $110, while UBS downgraded the stock to “neutral.”

Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) major shareholder International Pte Ltd Bbrc sold 798,920 shares of Victoria's Secret & Co. stock in a transaction on 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 owned 7,810,631 shares in the company, valued at approximately $696,317,753.65. This trade represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 22nd, International Pte Ltd Bbrc sold 289,479 shares of Victoria's Secret & Co. stock. The shares were sold at an average price of $88.89, for a total value of $25,731,788.31.
• On Friday, June 26th, International Pte Ltd Bbrc sold 276,171 shares of Victoria's Secret & Co. stock. The stock was sold at an average price of $88.50, for a total value of $24,441,133.50.
• On Thursday, June 4th, International Pte Ltd Bbrc sold 27,758 shares of Victoria's Secret & Co. stock. The shares were sold at an average price of $80.03, for a total value of $2,221,472.74.
• 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 value of $88,735,603.92.

Victoria's Secret & Co. Trading Down 0.5%

Shares of VSXY traded down $0.41 during mid-day trading on Wednesday, reaching $88.90. 1,848,680 shares of the company were exchanged, compared to its average volume of 2,247,122. The business has a 50 day simple moving average of $75.26 and a two-hundred day simple moving average of $61.23. 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 capitalization of $7.06 billion, a PE ratio of 47.80, a PEG ratio of 0.67 and a beta of 2.07. Victoria's Secret & Co. has a 52 week low of $18.04 and a 52 week high of $91.46.

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

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

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its holdings in Victoria's Secret & Co. by 666.7% during the 1st quarter. Parallel Advisors LLC now owns 621 shares of the company's stock worth $29,000 after purchasing an additional 540 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Victoria's Secret & Co. in the fourth quarter valued at approximately $33,000. Hantz Financial Services Inc. lifted its holdings in shares of Victoria's Secret & Co. by 104.3% in the fourth quarter. Hantz Financial Services Inc. now owns 811 shares of the company's stock valued at $44,000 after purchasing an additional 414 shares in the last quarter. DV Equities LLC purchased a new position in shares of Victoria's Secret & Co. during the fourth quarter valued at approximately $49,000. Finally, Quantbot Technologies LP purchased a new position in shares of Victoria's Secret & Co. during the third quarter valued at approximately $53,000. Institutional investors and hedge funds own 90.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America raised shares of Victoria's Secret & Co. from a "neutral" rating to a "buy" rating and upped their price target for the company from $58.00 to $68.00 in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on Victoria's Secret & Co. from $88.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday. UBS Group lowered Victoria's Secret & Co. from a "buy" rating to a "neutral" rating and boosted their price target for the company from $81.00 to $90.00 in a research note on Wednesday, June 3rd. Wall Street Zen cut Victoria's Secret & Co. from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 5th. Finally, The Goldman Sachs Group raised their price objective on shares of Victoria's Secret & Co. from $56.00 to $84.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.70.

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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