Victoria’s Secret & Co. (NYSE:VSXY) Sets New 52-Week High – Here’s What Happened

Victoria’s Secret & Co. (NYSE:VSXY)’s share price hit a new 52-week high on Tuesday . The company traded as high as $89.71 and last traded at $87.43, with a volume of 91437 shares changing hands. The stock had previously closed at $87.41.

Analyst Ratings Changes

Several research analysts recently weighed in on VSXY shares. Wall Street Zen cut shares of Victoria’s Secret & Co. from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 5th. Morgan Stanley reissued an “overweight” rating and issued a $99.00 target price on shares of Victoria’s Secret & Co. in a research note on Monday, July 6th. Weiss Ratings upgraded Victoria’s Secret & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their target price on Victoria’s Secret & Co. from $77.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Finally, Barclays raised their price target on Victoria’s Secret & Co. from $67.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. One investment 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. According to MarketBeat.com, Victoria’s Secret & Co. has an average rating of “Moderate Buy” and an average price target of $86.50.

Victoria’s Secret & Co. Price Performance

The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 0.64 and a beta of 2.07. The company has a quick ratio of 0.41, a current ratio of 1.26 and a debt-to-equity ratio of 1.17. The company’s fifty day moving average is $70.43 and its two-hundred day moving average is $59.96.

Victoria’s Secret & Co. (NYSE:VSXY) last released its earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.31. The firm 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 quarter in the previous year, the business earned $0.09 EPS. Equities research analysts anticipate that Victoria’s Secret & Co. will post 4.65 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $88.50, for a total value of $24,441,133.50. Following the sale, the insider owned 8,899,030 shares of the company’s stock, valued at $787,564,155. The trade was a 3.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 1,411,601 shares of company stock valued at $115,398,210 in the last 90 days. 0.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Baird Financial Group Inc. acquired a new stake in Victoria’s Secret & Co. in the first quarter valued at $233,000. Royal Bank of Canada lifted its position in Victoria’s Secret & Co. by 279.1% during the first quarter. Royal Bank of Canada now owns 47,839 shares of the company’s stock worth $888,000 after purchasing an additional 35,220 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Victoria’s Secret & Co. by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company’s stock worth $1,170,000 after purchasing an additional 1,797 shares during the period. Invesco Ltd. grew its stake in Victoria’s Secret & Co. by 8.0% during the second quarter. Invesco Ltd. now owns 772,884 shares of the company’s stock worth $14,314,000 after buying an additional 57,048 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Victoria’s Secret & Co. by 194.4% during the second quarter. First Trust Advisors LP now owns 152,625 shares of the company’s stock worth $2,827,000 after buying an additional 100,787 shares in the last quarter. 90.29% of the stock is owned by institutional investors and hedge funds.

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.