Wells Fargo & Company Forecasts Strong Price Appreciation for Victoria’s Secret & Co. (NYSE:VSXY) Stock

Victoria’s Secret & Co. (NYSE:VSXYGet Free Report) had its price objective raised by equities researchers at Wells Fargo & Company from $57.00 to $90.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 22.15% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Zacks Research upgraded Victoria’s Secret & Co. from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 10th. UBS Group lowered Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research report on Wednesday. The Goldman Sachs Group restated a “neutral” rating on shares of Victoria’s Secret & Co. in a research note on Wednesday. Telsey Advisory Group increased their target price on Victoria’s Secret & Co. from $71.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Barclays raised their target price on Victoria’s Secret & Co. from $67.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities 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. Based on data from MarketBeat, Victoria’s Secret & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

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Victoria’s Secret & Co. Trading Down 8.0%

NYSE VSXY opened at $73.68 on Wednesday. Victoria’s Secret & Co. has a one year low of $17.53 and a one year high of $81.28. The company has a 50-day simple moving average of $49.54 and a 200-day simple moving average of $51.89. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.54 and a current ratio of 1.25. The firm has a market capitalization of $5.85 billion, a PE ratio of 39.61, a price-to-earnings-growth ratio of 0.95 and a beta of 2.16.

Victoria’s Secret & Co. (NYSE:VSXYGet Free Report) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.31. Victoria’s Secret & Co. had a net margin of 2.45% and a return on equity of 33.55%. The firm 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 business earned $0.09 earnings per share. On average, equities analysts forecast that Victoria’s Secret & Co. will post 3.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Anne Sheehan acquired 4,842 shares of Victoria’s Secret & Co. stock in a transaction that occurred on Thursday, April 2nd. The stock was acquired at an average price of $45.86 per share, with a total value of $222,054.12. Following the completion of the acquisition, the director directly owned 34,261 shares of the company’s stock, valued at $1,571,209.46. This trade represents a 16.46% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donna James bought 2,175 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average price of $46.23 per share, with a total value of $100,550.25. Following the transaction, the director directly owned 63,097 shares in the company, valued at $2,916,974.31. This represents a 3.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Victoria’s Secret & Co.

A number of institutional investors have recently made changes to their positions in the stock. Baird Financial Group Inc. bought a new position in shares of Victoria’s Secret & Co. in the first quarter valued at approximately $233,000. Royal Bank of Canada raised its holdings in Victoria’s Secret & Co. by 279.1% during the first quarter. Royal Bank of Canada now owns 47,839 shares of the company’s stock worth $888,000 after purchasing an additional 35,220 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Victoria’s Secret & Co. by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company’s stock worth $1,170,000 after purchasing an additional 1,797 shares during the period. Invesco Ltd. lifted its position in Victoria’s Secret & Co. by 8.0% in the second quarter. Invesco Ltd. now owns 772,884 shares of the company’s stock worth $14,314,000 after purchasing an additional 57,048 shares during the period. Finally, First Trust Advisors LP boosted its stake in 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 purchasing an additional 100,787 shares in the last quarter. 90.29% of the stock is owned by institutional investors and hedge funds.

Victoria’s Secret & Co. News Roundup

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Victoria’s Secret & Co. Company Profile

(Get Free Report)

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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