Victoria’s Secret & Co. (NYSE:VSXY) Sets New 52-Week High on Analyst Upgrade

Shares of Victoria’s Secret & Co. (NYSE:VSXY) reached 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 trading hands. The stock had previously closed at $85.32.

VSXY has been the subject of a number of other research reports. Jefferies Financial Group lowered Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and raised their price target for the stock from $65.00 to $73.00 in a research note on Wednesday, June 3rd. TD Cowen raised their price objective on Victoria’s Secret & Co. from $50.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, June 4th. Barclays upped their target price on shares of Victoria’s Secret & Co. from $67.00 to $108.00 and gave the stock an “overweight” rating 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 research report on Sunday, April 5th. Finally, Wells Fargo & Company lifted their target price on shares of Victoria’s Secret & Co. from $57.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.70.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $80.11, for a total value of $88,735,603.92. Following the completion of the sale, the insider owned 9,202,959 shares in the company, valued at approximately $737,249,045.49. This represents a 10.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 1,701,080 shares of company stock valued at $141,129,998. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VSXY. Smartleaf Asset Management LLC grew its position in shares of Victoria’s Secret & Co. by 11.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,935 shares of the company’s stock valued at $106,000 after purchasing an additional 199 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in Victoria’s Secret & Co. by 2.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 11,725 shares of the company’s stock valued at $635,000 after buying an additional 245 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in Victoria’s Secret & Co. by 4.5% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,755 shares of the company’s stock valued at $267,000 after buying an additional 250 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Victoria’s Secret & Co. by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,308 shares of the company’s stock valued at $992,000 after buying an additional 286 shares in the last quarter. Finally, Optimize Financial Inc increased its stake in Victoria’s Secret & Co. by 1.5% in the 4th quarter. Optimize Financial Inc now owns 23,074 shares of the company’s stock worth $1,250,000 after acquiring an additional 332 shares during the last quarter. Institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Trading Up 4.8%

The firm has a market cap of $7.10 billion, a P/E ratio of 48.06, a P/E/G ratio of 0.65 and a beta of 2.07. The stock has a 50 day simple moving average of $74.38 and a 200-day simple moving average of $61.03. The company has a current ratio of 1.26, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17.

Victoria’s Secret & Co. (NYSE:VSXY) last posted its earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating 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 the consensus estimate of $1.52 billion. During the same period in the prior year, the company earned $0.09 EPS. On average, equities research analysts expect that Victoria’s Secret & Co. will post 4.65 EPS for the current fiscal year.

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.