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

Victoria’s Secret & Co. (NYSE:VSXY) shares hit a new 52-week high during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $100.00 to $120.00. Wells Fargo & Company currently has an overweight rating on the stock. Victoria’s Secret & Co. traded as high as $105.98 and last traded at $105.24, with a volume of 124,414 shares traded. The stock had previously closed at $100.53.

Other analysts have also issued research reports about the stock. Needham & Company LLC began coverage on shares of Victoria’s Secret & Co. in a report on Friday, October 16th. They issued a “buy” rating and a $106.00 price target for the company. Telsey Advisory Group boosted their price objective on shares of Victoria’s Secret & Co. from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Barclays upped their price objective on Victoria’s Secret & Co. from $106.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. Zacks Research lowered Victoria’s Secret & Co. from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. Finally, Morgan Stanley lifted their target price on Victoria’s Secret & Co. from $101.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Victoria’s Secret & Co. has an average rating of “Moderate Buy” and a consensus target price of $93.67.

Insider Buying and Selling

In other news, insider Melinda McAfee sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $98.90, for a total value of $692,300.00. Following the completion of the transaction, the insider owned 156,817 shares in the company, valued at $15,509,201.30. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 14,000 shares of company stock worth $1,339,750. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ethic Inc. acquired a new position in Victoria’s Secret & Co. during the 3rd quarter valued at about $352,000. Commonwealth Equity Services LLC raised its stake in shares of Victoria’s Secret & Co. by 4.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,524 shares of the company’s stock worth $223,000 after purchasing an additional 114 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Victoria’s Secret & Co. in the third quarter worth about $11,371,000. Vise Technologies Inc. raised its holdings in shares of Victoria’s Secret & Co. by 10.5% in the 3rd quarter. Vise Technologies Inc. now owns 10,825 shares of the company’s stock worth $958,000 after purchasing an additional 1,031 shares during the period. Finally, Hanseatic Management Services Inc. lifted its position in shares of Victoria’s Secret & Co. by 2.1% during the 3rd quarter. Hanseatic Management Services Inc. now owns 14,330 shares of the company’s stock valued at $1,268,000 after buying an additional 292 shares during the last quarter. Institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Price Performance

The stock has a market cap of $8.42 billion, a PE ratio of 30.60, a PEG ratio of 0.66 and a beta of 2.11. The company has a current ratio of 1.36, a quick ratio of 0.57 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $86.01 and a 200 day moving average price of $70.07.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.18. Victoria’s Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that Victoria’s Secret & Co. will post 4.75 earnings per share for the current fiscal year.

About Victoria’s Secret & Co.

Victoria’s Secret & Co is a specialty retailer focused on intimate apparel, lingerie, beauty products and related lifestyle merchandise. Its portfolio includes the Victoria’s Secret brand, which offers bras, panties, lingerie, sleepwear, apparel, accessories, fragrances and personal-care products, and PINK, which targets younger customers with lingerie, loungewear, apparel, beauty products and accessories.

The company also operates Adore Me, a digitally focused intimates brand known for a broad range of sizes and subscription-based shopping options.