Victoria’s Secret & Co. (NYSE:VSCO) Announces Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Victoria’s Secret & Co. (NYSE:VSCO) announced its quarterly earnings data on Tuesday. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.31, FiscalAI reports. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Victoria’s Secret & Co. had a net margin of 2.45% and a return on equity of 33.55%.

Victoria’s Secret & Co. Stock Performance

Shares of VSCO stock opened at $54.74 on Tuesday. The firm’s 50 day moving average price is $49.54 and its 200-day moving average price is $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. Victoria’s Secret & Co. has a one year low of $17.53 and a one year high of $66.89. The firm has a market cap of $4.35 billion, a P/E ratio of 29.43, a P/E/G ratio of 0.95 and a beta of 2.16.

Analyst Upgrades and Downgrades

A number of analysts have commented on VSCO shares. Jefferies Financial Group reiterated a “buy” rating on shares of Victoria’s Secret & Co. in a report on Thursday, March 5th. Telsey Advisory Group increased their price objective on shares of Victoria’s Secret & Co. from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. TD Cowen cut their price objective on shares of Victoria’s Secret & Co. from $60.00 to $58.00 and set a “hold” rating for the company in a report on Friday, March 6th. Barclays increased their price objective on shares of Victoria’s Secret & Co. from $65.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Finally, UBS Group set a $58.00 price objective on shares of Victoria’s Secret & Co. in a report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.80.

Insider Activity at Victoria’s Secret & Co.

In related news, Director Donna James acquired 2,175 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average cost of $46.23 per share, for a total transaction of $100,550.25. Following the acquisition, the director owned 63,097 shares in the company, valued at $2,916,974.31. The trade was a 3.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne Sheehan acquired 4,842 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was bought at an average price of $45.86 per share, for a total transaction of $222,054.12. Following the completion of the acquisition, the director owned 34,261 shares in the company, valued at approximately $1,571,209.46. The trade was a 16.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Several large investors have recently added to or reduced their stakes in VSCO. Baird Financial Group Inc. purchased a new stake in Victoria’s Secret & Co. during the 1st quarter worth approximately $233,000. Royal Bank of Canada increased its stake in Victoria’s Secret & Co. by 279.1% during the 1st quarter. Royal Bank of Canada now owns 47,839 shares of the company’s stock worth $888,000 after buying an additional 35,220 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Victoria’s Secret & Co. by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company’s stock worth $1,170,000 after buying an additional 1,797 shares during the period. Invesco Ltd. increased its stake in Victoria’s Secret & Co. by 8.0% during the 2nd quarter. Invesco Ltd. now owns 772,884 shares of the company’s stock worth $14,314,000 after buying an additional 57,048 shares during the period. Finally, First Trust Advisors LP increased 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 worth $2,827,000 after buying an additional 100,787 shares during the period. 90.29% of the stock is owned by hedge funds and other institutional investors.

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.