Victoria’s Secret & Co. (NYSE:VSXY) Releases Earnings Results, Beats Estimates By $0.19 EPS

Victoria’s Secret & Co. (NYSE:VSXY) announced its quarterly earnings data on Thursday. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.76 by $0.19, FiscalAI reports. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.62 billion. Victoria’s Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.

Victoria’s Secret & Co. Stock Up 0.9%

Shares of NYSE:VSXY opened at $84.91 on Thursday. Victoria’s Secret & Co. has a 1 year low of $22.54 and a 1 year high of $102.46. 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 stock’s 50-day moving average is $85.87 and its 200 day moving average is $66.58. The company has a market cap of $6.74 billion, a PE ratio of 45.65, a P/E/G ratio of 0.57 and a beta of 2.05.

Insider Activity

In related news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 7,810,631 shares in the company, valued at $696,317,753.65. This represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,364,570 shares of company stock worth $121,396,640 over the last 90 days. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. purchased a new stake in Victoria’s Secret & Co. in the fourth quarter worth about $941,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Victoria’s Secret & Co. in the 4th quarter worth approximately $656,000. Quantinno Capital Management LP purchased a new position in shares of Victoria’s Secret & Co. in the 2nd quarter valued at approximately $414,000. Summit Global Investments bought a new stake in shares of Victoria’s Secret & Co. during the fourth quarter valued at approximately $408,000. Finally, Amundi grew its stake in Victoria’s Secret & Co. by 334.5% in the second quarter. Amundi now owns 16,883 shares of the company’s stock worth $344,000 after purchasing an additional 12,997 shares during the period. 90.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VSXY. UBS Group boosted their price objective on shares of Victoria’s Secret & Co. from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. TD Cowen boosted their price target on shares of Victoria’s Secret & Co. from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, August 18th. Morgan Stanley restated an “overweight” rating and set a $99.00 price target on shares of Victoria’s Secret & Co. in a research report on Monday, July 6th. Barclays boosted their target price on Victoria’s Secret & Co. from $67.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group lowered Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and raised their price target for the stock from $65.00 to $73.00 in a research report on Wednesday, June 3rd. One research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.70.

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.