Victoria’s Secret & Co. (NYSE:VSXY) Raised to “Buy” at Wall Street Zen

Victoria’s Secret & Co. (NYSE:VSXY) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

VSXY has been the subject of several other reports. Morgan Stanley boosted their price target on Victoria’s Secret & Co. from $99.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Zacks Research lowered Victoria’s Secret & Co. from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 11th. BMO Capital Markets assumed coverage on Victoria’s Secret & Co. in a report on Tuesday, September 8th. They set a “market perform” rating and a $80.00 price objective on the stock. Barclays decreased their price objective on Victoria’s Secret & Co. from $108.00 to $106.00 and set an “overweight” rating on the stock in a report on Friday, September 4th. Finally, Weiss Ratings raised Victoria’s Secret & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Victoria’s Secret & Co. has a consensus rating of “Moderate Buy” and an average target price of $91.25.

Victoria’s Secret & Co. Stock Performance

NYSE:VSXY opened at $87.44 on Friday. The firm has a 50 day simple moving average of $84.69 and a 200-day simple moving average of $73.30. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.36 and a quick ratio of 0.57. The firm has a market cap of $6.97 billion, a PE ratio of 25.34, a P/E/G ratio of 0.59 and a beta of 2.01. Victoria’s Secret & Co. has a 1-year low of $29.67 and a 1-year high of $102.46.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.18. Victoria’s Secret & Co. had a net margin of 5.46% and a return on equity of 40.43%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. The business’s revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that Victoria’s Secret & Co. will post 4.69 EPS for the current year.

Insider Buying and Selling

In related news, insider Melinda McAfee sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $91.10, for a total transaction of $409,950.00. Following the completion of the transaction, the insider owned 166,317 shares of the company’s stock, valued at approximately $15,151,478.70. This represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total transaction of $71,223,718.00. Following the transaction, the insider directly owned 7,810,631 shares of the company’s stock, valued at $696,317,753.65. This trade represents a 9.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,092,899 shares of company stock valued at $97,365,456. 0.52% of the stock is owned by insiders.

Institutional Trading of Victoria’s Secret & Co.

Institutional investors and hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC raised its stake in shares of Victoria’s Secret & Co. by 5.4% in the 3rd quarter. SummerHaven Investment Management LLC now owns 41,802 shares of the company’s stock valued at $3,698,000 after acquiring an additional 2,146 shares during the period. Triasima Portfolio Management inc. acquired a new position in shares of Victoria’s Secret & Co. during the 3rd quarter valued at $658,000. Fortitude Family Office LLC lifted its holdings in shares of Victoria’s Secret & Co. by 126.7% during the 3rd quarter. Fortitude Family Office LLC now owns 306 shares of the company’s stock valued at $27,000 after acquiring an additional 171 shares in the last quarter. ANB Bank acquired a new position in shares of Victoria’s Secret & Co. during the 3rd quarter valued at $304,000. Finally, GK Wealth Management LLC acquired a new position in shares of Victoria’s Secret & Co. during the 3rd quarter valued at $103,000. 90.29% of the stock is currently owned by institutional investors and hedge funds.

Victoria’s Secret & Co. Company Profile

Victoria’s Secret & Co is a specialty retailer focused on women’s intimate apparel, lingerie, beauty products, sleepwear, loungewear and related accessories. Its portfolio includes the Victoria’s Secret brand, which offers bras, panties, sleepwear, apparel, fragrances and body-care products, and PINK, a lifestyle brand serving younger consumers with intimates, apparel, beauty products and accessories. The company also owns Adore Me, a digitally focused intimate-apparel brand.

The company sells its products through company-operated stores, digital platforms and selected wholesale and partner channels.