Peregrine Capital Management LLC Lowers Stock Position in Victoria’s Secret & Co. $VSXY

Peregrine Capital Management LLC cut its holdings in shares of Victoria’s Secret & Co. (NYSE:VSXY) by 47.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,883 shares of the company’s stock after selling 66,587 shares during the period. Peregrine Capital Management LLC’s holdings in Victoria’s Secret & Co. were worth $3,425,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VSXY. Bbfit Investments PTE Ltd. bought a new position in Victoria’s Secret & Co. in the fourth quarter worth approximately $558,521,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Victoria’s Secret & Co. in the 4th quarter valued at $87,786,000. Marshall Wace LLP raised its position in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 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 in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Victoria’s Secret & Co. during the 3rd quarter worth $20,870,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Jefferies Financial Group lowered Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and lifted their target price for the company from $65.00 to $73.00 in a research note on Wednesday, June 3rd. Weiss Ratings raised shares of Victoria’s Secret & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. Telsey Advisory Group raised their price target on shares of Victoria’s Secret & Co. from $71.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Wall Street Zen downgraded shares of Victoria’s Secret & Co. from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.60.

Insider Activity at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total value of $88,735,603.92. Following the completion of the transaction, the insider directly owned 9,202,959 shares of the company’s stock, valued at $737,249,045.49. This trade represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 1,411,601 shares of company stock valued at $115,398,210. Company insiders own 0.52% of the company’s stock.

Victoria’s Secret & Co. Stock Down 1.6%

Shares of VSXY stock opened at $76.46 on Friday. Victoria’s Secret & Co. has a 1-year low of $17.53 and a 1-year high of $88.57. The stock’s fifty day moving average price is $63.40 and its 200 day moving average price is $57.82. 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 company has a market cap of $6.07 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 0.61 and a beta of 2.07.

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 analysts’ consensus estimates of $0.29 by $0.31. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Victoria’s Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.During the same period last year, the business posted $0.09 earnings per share. On average, research analysts expect that Victoria’s Secret & Co. will post 4.61 earnings per share for the current fiscal year.

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.