Triasima Portfolio Management inc. Buys New Stake in Victoria’s Secret & Co. $VSXY

Triasima Portfolio Management inc. purchased a new stake in Victoria’s Secret & Co. (NYSE:VSXY) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 7,442 shares of the company’s stock, valued at approximately $658,000.

Several other hedge funds also recently added to or reduced their stakes in VSXY. Bbfit Investments PTE Ltd. acquired a new stake in Victoria’s Secret & Co. during the fourth quarter worth approximately $558,521,000. Squarepoint Ops LLC purchased a new stake in shares of Victoria’s Secret & Co. during the 2nd quarter worth approximately $39,803,000. Baird Financial Group Inc. purchased a new stake in shares of Victoria’s Secret & Co. during the 2nd quarter worth approximately $30,622,000. Bank of America Corp DE boosted its holdings in shares of Victoria’s Secret & Co. by 61.9% in the 1st quarter. Bank of America Corp DE now owns 632,358 shares of the company’s stock valued at $29,316,000 after buying an additional 241,660 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Victoria’s Secret & Co. by 39.0% in the 1st quarter. Principal Financial Group Inc. now owns 530,793 shares of the company’s stock valued at $24,608,000 after buying an additional 148,876 shares in the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Victoria’s Secret & Co.

In other news, insider Melinda McAfee sold 4,500 shares of the stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $91.10, for a total transaction of $409,950.00. Following the completion of the transaction, the insider directly owned 166,317 shares of the company’s stock, valued at approximately $15,151,478.70. This represents a 2.63% decrease in their position. The sale was disclosed in a filing 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 stock in a transaction that occurred on 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 transaction, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,092,899 shares of company stock worth $97,365,456 in the last quarter. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Telsey Advisory Group raised their price objective on Victoria’s Secret & Co. from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, September 2nd. Wells Fargo & Company boosted their target price on Victoria’s Secret & Co. from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, September 29th. Weiss Ratings raised Victoria’s Secret & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Zacks Research cut Victoria’s Secret & Co. from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 11th. Finally, BMO Capital Markets started coverage on Victoria’s Secret & Co. in a research report on Tuesday, September 8th. They issued a “market perform” rating and a $80.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.91.

Victoria’s Secret & Co. Stock Performance

Shares of VSXY opened at $90.47 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.57 and a current ratio of 1.36. The stock has a market capitalization of $7.22 billion, a P/E ratio of 26.22, a P/E/G ratio of 0.60 and a beta of 2.01. The company’s fifty day moving average is $84.92 and its two-hundred day moving average is $72.99. Victoria’s Secret & Co. has a 1 year low of $29.65 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 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. The business’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that Victoria’s Secret & Co. will post 4.69 earnings per share for the current year.

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.