Brokerages Set Victoria’s Secret & Co. (NYSE:VSXY) Target Price at $88.70

Shares of Victoria’s Secret & Co. (NYSE:VSXY) have received an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $88.70.

Several research analysts recently commented on the stock. Bank of America upgraded shares of Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $68.00 in a research note on Wednesday, April 29th. UBS Group lowered shares of Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $81.00 to $90.00 in a report on Wednesday, June 3rd. Telsey Advisory Group upped their price target on Victoria’s Secret & Co. from $71.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price objective on Victoria’s Secret & Co. from $88.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Barclays raised their price objective on Victoria’s Secret & Co. from $67.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd.

Victoria’s Secret & Co. Price Performance

VSXY opened at $89.09 on Wednesday. The firm has a market capitalization of $7.08 billion, a PE ratio of 47.90, a price-to-earnings-growth ratio of 0.69 and a beta of 2.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.26 and a quick ratio of 0.41. The business’s 50-day moving average is $77.58 and its two-hundred day moving average is $61.76. Victoria’s Secret & Co. has a 1 year low of $18.04 and a 1 year high of $91.97.

Victoria’s Secret & Co. (NYSE:VSXY) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 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 business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $0.09 earnings per share. Research analysts anticipate that Victoria’s Secret & Co. will post 4.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total value of $71,223,718.00. Following the completion of the sale, the insider owned 7,810,631 shares of the company’s stock, valued at approximately $696,317,753.65. This trade represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 2,500,000 shares of company stock valued at $212,353,716 in the last three months. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Victoria’s Secret & Co.

Several hedge funds have recently modified their holdings of VSXY. Bbfit Investments PTE Ltd. purchased a new stake in shares of Victoria’s Secret & Co. during the fourth quarter valued at $558,521,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Victoria’s Secret & Co. in the 4th quarter valued at $87,786,000. Marshall Wace LLP raised its stake in Victoria’s Secret & Co. by 301.4% in the 4th quarter. Marshall Wace LLP now owns 1,792,727 shares of the company’s stock worth $97,112,000 after acquiring an additional 1,346,104 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Victoria’s Secret & Co. by 1,454.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,045,465 shares of the company’s stock worth $56,634,000 after acquiring an additional 978,194 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Victoria’s Secret & Co. during the 3rd quarter worth about $20,870,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

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.