Victoria’s Secret & Co. (NYSE:VSXY) Given New $90.00 Price Target at Telsey Advisory Group

Victoria’s Secret & Co. (NYSE:VSXY) had its price objective increased by research analysts at Telsey Advisory Group from $71.00 to $90.00 in a report issued on Wednesday. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s target price suggests a potential upside of 63.19% from the stock’s previous close.

Other analysts have also issued research reports about the company. TD Cowen cut their target price on Victoria’s Secret & Co. from $60.00 to $58.00 and set a “hold” rating for the company in a research note on Friday, March 6th. Bank of America raised shares of Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $68.00 in a research note on Wednesday, April 29th. Wall Street Zen lowered shares of Victoria’s Secret & Co. from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 5th. Barclays reiterated an “overweight” rating on shares of Victoria’s Secret & Co. in a research report on Wednesday. Finally, Weiss Ratings lowered shares of Victoria’s Secret & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.90.

Victoria’s Secret & Co. Trading Down 29.8%

Shares of VSXY stock opened at $55.15 on Wednesday. The business has a 50-day moving average price of $49.54 and a two-hundred day moving average price of $51.89. Victoria’s Secret & Co. has a 12-month low of $74.26 and a 12-month high of $81.28. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 1.07. The firm has a market cap of $4.38 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 0.95 and a beta of 2.16.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.29 by $0.31. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. Victoria’s Secret & Co. had a return on equity of 33.55% and a net margin of 2.45%.During the same period in the prior year, the company earned $0.09 EPS. Equities analysts anticipate that Victoria’s Secret & Co. will post 3.49 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Victoria’s Secret & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of Victoria’s Secret & Co. by 61.9% in the 1st quarter. Bank of America Corp DE now owns 632,358 shares of the company’s stock worth $29,316,000 after acquiring an additional 241,660 shares in the last quarter. Edgestream Partners L.P. lifted its position in Victoria’s Secret & Co. by 113.9% during the 1st quarter. Edgestream Partners L.P. now owns 32,718 shares of the company’s stock valued at $1,517,000 after acquiring an additional 17,425 shares during the period. Janus Henderson Group PLC boosted its stake in Victoria’s Secret & Co. by 3.5% during the first quarter. Janus Henderson Group PLC now owns 57,928 shares of the company’s stock worth $2,685,000 after acquiring an additional 1,974 shares in the last quarter. Amundi boosted its position in shares of Victoria’s Secret & Co. by 28.8% in the 1st quarter. Amundi now owns 20,308 shares of the company’s stock worth $941,000 after purchasing an additional 4,537 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Victoria’s Secret & Co. by 23.5% in the first quarter. California State Teachers Retirement System now owns 84,333 shares of the company’s stock worth $3,910,000 after acquiring an additional 16,044 shares in the last quarter. 90.29% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Victoria’s Secret & Co.

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

• Positive Sentiment: Victoria’s Secret beat first-quarter earnings and revenue estimates by a wide margin, signaling stronger demand and better execution. Reuters article
• Positive Sentiment: The company raised its full-year outlook, suggesting management sees continued momentum in sales and profitability. CNBC article
• Positive Sentiment: Strong bra sales and a swing to profit are reinforcing the view that Victoria’s Secret’s turnaround strategy is working. WSJ article
• Positive Sentiment: Shares hit record highs as multiple reports highlighted the company’s outperformance and improved forecasts. Yahoo Finance article

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.