Key Points
- Insider sale: Melinda Mcafee sold 4,500 Victoria’s Secret shares for approximately $409,950 under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 2.63% to 166,317 shares.
- Stock and earnings: Shares opened at $85.36, down 4.5%, while the company’s latest quarterly earnings of $0.95 per share exceeded estimates of $0.77. Revenue rose 10.4% year over year to $1.61 billion, slightly below expectations.
- Analyst outlook: The stock has a consensus “Hold” rating, with six Buy and eight Hold ratings and an average price target of $89.91; institutional investors own approximately 90.29% of outstanding shares.
Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) insider Melinda Mcafee sold 4,500 shares of the company's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $91.10, for a total transaction of $409,950.00. Following the completion of the sale, the insider directly owned 166,317 shares of the company's stock, valued at $15,151,478.70. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Victoria's Secret & Co. Trading Down 4.5%
NYSE:VSXY opened at $85.36 on Wednesday. Victoria's Secret & Co. has a 52 week low of $28.04 and a 52 week high of $102.46. The firm has a 50-day moving average price of $85.26 and a two-hundred day moving average price of $70.89. 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 cap of $6.81 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 0.61 and a beta of 2.01.
Victoria's Secret & Co. (NYSE:VSXY - Get Free Report) last announced its earnings results 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 firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.62 billion. Victoria's Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%.The business's revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that Victoria's Secret & Co. will post 4.69 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts have weighed in on the company. TD Cowen boosted their price objective on Victoria's Secret & Co. from $75.00 to $80.00 and gave the stock a "hold" rating in a research report on Tuesday, August 18th. Zacks Research lowered Victoria's Secret & Co. from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 11th. Wall Street Zen cut Victoria's Secret & Co. from a "buy" rating to a "hold" rating in a research note on Monday, September 21st. Morgan Stanley lifted their target price on Victoria's Secret & Co. from $99.00 to $101.00 and gave the stock an "overweight" rating in a research note on Friday, September 4th. Finally, Telsey Advisory Group increased their price target on shares of Victoria's Secret & Co. from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Wednesday, September 2nd. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $89.91.
View Our Latest Stock Analysis on VSXY
Hedge Funds Weigh In On Victoria's Secret & Co.
Several institutional investors have recently bought and sold shares of the company. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of Victoria's Secret & Co. by 4.5% during the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,755 shares of the company's stock valued at $267,000 after purchasing an additional 250 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Victoria's Secret & Co. by 48.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,122 shares of the company's stock worth $61,000 after buying an additional 364 shares in the last quarter. Meros Investment Management LP raised its stake in Victoria's Secret & Co. by 4.2% in the fourth quarter. Meros Investment Management LP now owns 9,579 shares of the company's stock worth $519,000 after buying an additional 388 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Victoria's Secret & Co. by 6.3% in the first quarter. Lazard Asset Management LLC now owns 7,712 shares of the company's stock worth $358,000 after buying an additional 454 shares during the period. Finally, Swiss National Bank boosted its position in Victoria's Secret & Co. by 0.4% during the 1st quarter. Swiss National Bank now owns 142,900 shares of the company's stock valued at $6,625,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 90.29% of the company's stock.
About Victoria's Secret & Co.
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Get Free Report)
Victoria's Secret & Co is a specialty retailer focused on women's intimate apparel, lingerie, beauty products, sleepwear, loungewear and related accessories. Its portfolio includes the Victoria's Secret brand, which offers bras, panties, sleepwear, apparel, fragrances and body-care products, and PINK, a lifestyle brand serving younger consumers with intimates, apparel, beauty products and accessories. The company also owns Adore Me, a digitally focused intimate-apparel brand.
The company sells its products through company-operated stores, digital platforms and selected wholesale and partner channels.
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