Mirae Asset Global Investments Co. Ltd. Makes New Investment in Victoria’s Secret & Co. $VSXY

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Victoria’s Secret & Co. (NYSE:VSXY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 128,543 shares of the company’s stock, valued at approximately $11,371,000.

Several other institutional investors and hedge funds have also recently modified their holdings of VSXY. Squarepoint Ops LLC purchased a new stake in shares of Victoria’s Secret & Co. in the second quarter worth about $39,803,000. Tidal Investments LLC bought a new stake in Victoria’s Secret & Co. during the 2nd quarter valued at about $2,308,000. Sequoia Financial Advisors LLC increased its holdings in Victoria’s Secret & Co. by 212.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 18,754 shares of the company’s stock worth $869,000 after purchasing an additional 12,750 shares during the period. California State Teachers Retirement System lifted its position in shares of Victoria’s Secret & Co. by 23.5% in the 1st quarter. California State Teachers Retirement System now owns 84,333 shares of the company’s stock worth $3,910,000 after purchasing an additional 16,044 shares during the period. Finally, Baird Financial Group Inc. purchased a new position in shares of Victoria’s Secret & Co. in the 2nd quarter worth approximately $30,622,000. 90.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VSXY has been the topic of a number of recent research reports. Weiss Ratings upgraded Victoria’s Secret & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Needham & Company LLC started coverage on Victoria’s Secret & Co. in a report on Friday, October 16th. They issued a “buy” rating and a $106.00 price objective for the company. Wall Street Zen upgraded shares of Victoria’s Secret & Co. from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Barclays raised their price objective on Victoria’s Secret & Co. from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, October 20th. Finally, Morgan Stanley increased their target price on Victoria’s Secret & Co. from $101.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

Victoria’s Secret & Co. Stock Up 8.5%

VSXY stock opened at $109.10 on Thursday. Victoria’s Secret & Co. has a fifty-two week low of $33.61 and a fifty-two week high of $109.82. The company’s 50 day moving average price is $86.45 and its 200 day moving average price is $70.31. 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 firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 0.67 and a beta of 2.11.

Victoria’s Secret & Co. (NYSE:VSXY) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.18. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Victoria’s Secret & Co. had a net margin of 5.46% and a return on equity of 40.43%. The company’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts anticipate that Victoria’s Secret & Co. will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling at Victoria’s Secret & Co.

In other news, insider Melinda McAfee sold 7,000 shares of Victoria’s Secret & Co. stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $98.90, for a total transaction of $692,300.00. Following the completion of the sale, the insider directly owned 156,817 shares in the company, valued at approximately $15,509,201.30. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,000 shares of company stock worth $1,339,750. Corporate insiders own 0.52% of the company’s stock.

Victoria’s Secret & Co. Company Profile

Victoria’s Secret & Co is a specialty retailer focused on intimate apparel, lingerie, beauty products and related lifestyle merchandise. Its portfolio includes the Victoria’s Secret brand, which offers bras, panties, lingerie, sleepwear, apparel, accessories, fragrances and personal-care products, and PINK, which targets younger customers with lingerie, loungewear, apparel, beauty products and accessories.

The company also operates Adore Me, a digitally focused intimates brand known for a broad range of sizes and subscription-based shopping options.