Royal Bank of Canada Sells 23,365 Shares of Victoria’s Secret & Co. $VSXY

Royal Bank of Canada trimmed its stake in Victoria’s Secret & Co. (NYSE:VSXY) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,608 shares of the company’s stock after selling 23,365 shares during the quarter. Royal Bank of Canada’s holdings in Victoria’s Secret & Co. were worth $7,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of VSXY. Geode Capital Management LLC raised its holdings in shares of Victoria’s Secret & Co. by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,760,139 shares of the company’s stock worth $95,365,000 after purchasing an additional 47,462 shares during the period. Landscape Capital Management L.L.C. grew its holdings in Victoria’s Secret & Co. by 47.5% during the fourth quarter. Landscape Capital Management L.L.C. now owns 177,423 shares of the company’s stock valued at $9,611,000 after purchasing an additional 57,133 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Victoria’s Secret & Co. by 212.4% during the first quarter. Sequoia Financial Advisors LLC now owns 18,754 shares of the company’s stock valued at $869,000 after purchasing an additional 12,750 shares during the period. Apollon Wealth Management LLC purchased a new stake in Victoria’s Secret & Co. in the first quarter worth $940,000. Finally, Comerica Bank increased its position in Victoria’s Secret & Co. by 129.3% in the fourth quarter. Comerica Bank now owns 51,224 shares of the company’s stock worth $2,775,000 after buying an additional 28,889 shares during the last quarter. 90.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VSXY shares. Bank of America raised Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $68.00 in a research report on Wednesday, April 29th. UBS Group downgraded shares of Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and upped their price objective for the company from $81.00 to $90.00 in a report on Wednesday, June 3rd. TD Cowen increased their target price on shares of Victoria’s Secret & Co. from $50.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, June 4th. Jefferies Financial Group downgraded shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and lifted their target price for the stock from $65.00 to $73.00 in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Victoria’s Secret & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.70.

Victoria’s Secret & Co. Price Performance

NYSE:VSXY opened at $99.77 on Tuesday. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 53.64, a P/E/G ratio of 0.77 and a beta of 2.06. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26. The stock has a fifty day moving average of $82.09 and a 200 day moving average of $63.12. Victoria’s Secret & Co. has a 52-week low of $20.48 and a 52-week high of $102.46.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.31. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. During the same period in the previous year, the business posted $0.09 earnings per share. On average, research analysts expect that Victoria’s Secret & Co. will post 4.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of Victoria’s Secret & Co. stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total transaction 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 $696,317,753.65. The trade was a 9.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,500,000 shares of company stock worth $212,353,716 in the last quarter. Company insiders own 0.52% 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.