Insider Selling: Victoria’s Secret & Co. (NYSE:VSXY) Major Shareholder Sells 1,107,672 Shares of Stock

Victoria’s Secret & Co. (NYSE:VSXY) major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of Victoria’s Secret & Co. stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the transaction, the insider owned 9,202,959 shares of the company’s stock, valued at $737,249,045.49. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• On Thursday, June 4th, International Pte Ltd Bbrc sold 27,758 shares of Victoria’s Secret & Co. stock. The shares were sold at an average price of $80.03, for a total transaction of $2,221,472.74.

Victoria’s Secret & Co. Stock Down 7.4%

Shares of NYSE VSXY traded down $5.87 during mid-day trading on Thursday, reaching $73.09. 4,076,460 shares of the company’s stock traded hands, compared to its average volume of 3,016,558. The stock has a market cap of $5.81 billion, a P/E ratio of 39.30, a PEG ratio of 1.36 and a beta of 2.16. The business has a 50-day simple moving average of $51.00 and a 200 day simple moving average of $52.60. Victoria’s Secret & Co. has a 1-year low of $17.53 and a 1-year high of $81.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.25 and a quick ratio of 0.54.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.31. The firm 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 3.11% and a return on equity of 38.95%. During the same period last year, the company earned $0.09 earnings per share. On average, analysts expect that Victoria’s Secret & Co. will post 3.49 EPS for the current fiscal year.

Institutional Trading of Victoria’s Secret & Co.

Hedge funds have recently added to or reduced their stakes in the stock. Bbfit Investments PTE Ltd. bought a new stake in shares of Victoria’s Secret & Co. in the fourth quarter valued at approximately $558,521,000. Vanguard Group Inc. raised its position in shares of Victoria’s Secret & Co. by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 8,748,614 shares of the company’s stock valued at $473,912,000 after purchasing an additional 263,079 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Victoria’s Secret & Co. by 10.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,549,501 shares of the company’s stock valued at $69,187,000 after purchasing an additional 238,516 shares during the period. Cramer Rosenthal Mcglynn LLC raised its position in shares of Victoria’s Secret & Co. by 32.0% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 2,363,850 shares of the company’s stock valued at $64,155,000 after purchasing an additional 572,844 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Victoria’s Secret & Co. by 11.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,011,366 shares of the company’s stock valued at $108,956,000 after purchasing an additional 199,170 shares during the period. Institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. News Summary

Here are the key news stories impacting Victoria’s Secret & Co. this week:

• Positive Sentiment: Victoria’s Secret posted stronger-than-expected Q1 results, with sales and earnings topping guidance and management raising its full-year outlook. Reuters article
• Positive Sentiment: Wells Fargo and Telsey Advisory Group both raised their price targets to $90 and maintained bullish ratings, reinforcing confidence in the turnaround story. Benzinga article
• Positive Sentiment: All three independent proxy advisors recommended shareholders vote for the company’s nominees, reducing governance-related uncertainty ahead of the annual meeting. GlobeNewswire article
• Neutral Sentiment: Several commentary pieces highlighted that the stock’s sharp rally has pushed valuation higher, and one Seeking Alpha note downgraded the shares to Hold because the risk/reward is less compelling after the surge.
• Neutral Sentiment: Market commentary points to Victoria’s Secret’s brand reset, improved pricing power, and revived core identity as the basis for the stock’s recent momentum.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VSXY. Weiss Ratings cut shares of Victoria’s Secret & Co. from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, April 27th. UBS Group cut shares of Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $81.00 to $90.00 in a report on Wednesday. Zacks Research upgraded shares of Victoria’s Secret & Co. from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Bank of America upgraded shares of Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $68.00 in a report on Wednesday, April 29th. Finally, TD Cowen boosted their price target on shares of Victoria’s Secret & Co. from $50.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.80.

Victoria’s Secret & Co. Company 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.