Fifth Third Bancorp Has $2.50 Million Stake in Victoria’s Secret & Co. $VSXY

Fifth Third Bancorp boosted its holdings in Victoria’s Secret & Co. (NYSE:VSXY) by 4,596.6% in the first quarter, Holdings Channel reports. The firm owned 53,870 shares of the company’s stock after purchasing an additional 52,723 shares during the quarter. Fifth Third Bancorp’s holdings in Victoria’s Secret & Co. were worth $2,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VSXY. Baird Financial Group Inc. bought a new position in shares of Victoria’s Secret & Co. in the 1st quarter valued at about $233,000. Royal Bank of Canada increased its position in shares of Victoria’s Secret & Co. by 279.1% in the first quarter. Royal Bank of Canada now owns 47,839 shares of the company’s stock valued at $888,000 after acquiring an additional 35,220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 acquiring an additional 1,797 shares in the last quarter. Invesco Ltd. raised its holdings 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 acquiring an additional 57,048 shares in the last quarter. Finally, First Trust Advisors LP boosted its position 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 valued at $2,827,000 after purchasing an additional 100,787 shares during the last quarter. 90.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Victoria’s Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of Victoria’s Secret & Co. stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $80.11, for a total transaction of $88,735,603.92. Following the completion of the transaction, the insider directly owned 9,202,959 shares in the company, valued at approximately $737,249,045.49. The trade was a 10.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 1,411,601 shares of company stock worth $115,398,210. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on VSXY. Wall Street Zen downgraded Victoria’s Secret & Co. from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 5th. Telsey Advisory Group increased their price objective on Victoria’s Secret & Co. from $71.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. The Goldman Sachs Group raised their target price on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of Victoria’s Secret & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 24th. Finally, Morgan Stanley reaffirmed 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. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Victoria’s Secret & Co. Trading Down 0.4%

Shares of NYSE:VSXY opened at $87.10 on Wednesday. Victoria’s Secret & Co. has a 52-week low of $18.04 and a 52-week high of $89.71. 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 company has a market capitalization of $6.92 billion, a P/E ratio of 46.83, a price-to-earnings-growth ratio of 0.68 and a beta of 2.07. The company has a 50-day simple moving average of $71.24 and a 200 day simple moving average of $60.19.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.31. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.52 billion. Victoria’s Secret & Co. had a return on equity of 38.03% and a net margin of 3.11%.During the same quarter in the previous year, the business earned $0.09 earnings per share. Sell-side analysts forecast that Victoria’s Secret & Co. will post 4.65 earnings per share for the current year.

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.