Sterling Capital Management LLC Raises Stock Holdings in Victoria’s Secret & Co. $VSXY

Sterling Capital Management LLC boosted its position in shares of Victoria’s Secret & Co. (NYSE:VSXY) by 232.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,859 shares of the company’s stock after acquiring an additional 6,890 shares during the quarter. Sterling Capital Management LLC’s holdings in Victoria’s Secret & Co. were worth $457,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Victoria’s Secret & Co. in the 4th quarter worth $33,000. Hantz Financial Services Inc. increased its position in shares of Victoria’s Secret & Co. by 104.3% in the fourth quarter. Hantz Financial Services Inc. now owns 811 shares of the company’s stock valued at $44,000 after acquiring an additional 414 shares during the period. DV Equities LLC bought a new position in shares of Victoria’s Secret & Co. during the fourth quarter valued at about $49,000. Quantbot Technologies LP bought a new position in shares of Victoria’s Secret & Co. during the third quarter valued at about $53,000. Finally, Leonteq Securities AG bought a new position in shares of Victoria’s Secret & Co. during the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VSXY shares. The Goldman Sachs Group raised their target price on Victoria’s Secret & Co. from $56.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Wells Fargo & Company upped their price target on Victoria’s Secret & Co. from $57.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Jefferies Financial Group cut Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and increased their price objective for the stock from $65.00 to $73.00 in a report on Wednesday, June 3rd. TD Cowen lifted their price objective on Victoria’s Secret & Co. from $50.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, June 4th. Finally, UBS Group cut Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and boosted their target price for the company from $81.00 to $90.00 in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.60.

Victoria’s Secret & Co. Trading Down 1.6%

Shares of VSXY opened at $76.46 on Friday. The firm’s 50-day moving average price is $63.40 and its 200-day moving average price is $57.82. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 0.61 and a beta of 2.07. 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. has a 1-year low of $17.53 and a 1-year high of $88.57.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.31. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company earned $0.09 earnings per share. Sell-side analysts anticipate that Victoria’s Secret & Co. will post 4.61 EPS for the current year.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $88.50, for a total transaction of $24,441,133.50. Following the transaction, the insider owned 8,899,030 shares in the company, valued at approximately $787,564,155. This represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 1,411,601 shares of company stock worth $115,398,210. Insiders own 0.52% of the company’s stock.

Victoria’s Secret & Co. 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.