Insider Selling: Victoria’s Secret & Co. (NYSE:VSXY) Major Shareholder Sells 289,479 Shares

Victoria’s Secret & Co. (NYSE:VSXY) major shareholder International Pte Ltd Bbrc sold 289,479 shares of the stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $88.89, for a total transaction of $25,731,788.31. Following the transaction, the insider directly owned 8,609,551 shares in the company, valued at approximately $765,302,988.39. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• On Friday, June 26th, International Pte Ltd Bbrc sold 276,171 shares of Victoria’s Secret & Co. stock. The shares were sold at an average price of $88.50, for a total value of $24,441,133.50.
• On Thursday, June 4th, International Pte Ltd Bbrc sold 27,758 shares of Victoria’s Secret & Co. stock. The shares were sold at an average price of $80.03, for a total transaction of $2,221,472.74.
• On Tuesday, June 2nd, International Pte Ltd Bbrc sold 1,107,672 shares of Victoria’s Secret & Co. stock. The stock was sold at an average price of $80.11, for a total value of $88,735,603.92.

Victoria’s Secret & Co. Trading Up 4.9%

Shares of Victoria’s Secret & Co. stock traded up $4.17 during mid-day trading on Tuesday, hitting $89.49. The stock had a trading volume of 955,964 shares, compared to its average volume of 2,237,902. The firm has a 50-day moving average of $74.38 and a two-hundred day moving average of $61.03. 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 firm has a market cap of $7.11 billion, a P/E ratio of 48.11, a price-to-earnings-growth ratio of 0.65 and a beta of 2.07. Victoria’s Secret & Co. has a 12-month low of $18.04 and a 12-month high of $90.00.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.29 by $0.31. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates 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 prior year, the company posted $0.09 EPS. Sell-side analysts forecast that Victoria’s Secret & Co. will post 4.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TD Cowen increased their price objective on Victoria’s Secret & Co. from $50.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, June 4th. Telsey Advisory Group boosted their price target on shares of Victoria’s Secret & Co. from $71.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Morgan Stanley restated an “overweight” rating and set a $99.00 target price on shares of Victoria’s Secret & Co. in a research report on Monday, July 6th. Barclays upped their price objective 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, The Goldman Sachs Group lifted 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 report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Victoria’s Secret & Co. presently has an average rating of “Moderate Buy” and an average target price of $86.50.

Institutional Trading of Victoria’s Secret & Co.

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC grew its holdings in Victoria’s Secret & Co. by 666.7% during the 1st quarter. Parallel Advisors LLC now owns 621 shares of the company’s stock valued at $29,000 after buying an additional 540 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Victoria’s Secret & Co. during the fourth quarter valued at $33,000. Hantz Financial Services Inc. boosted its stake in shares of Victoria’s Secret & Co. by 104.3% during the 4th quarter. Hantz Financial Services Inc. now owns 811 shares of the company’s stock worth $44,000 after purchasing an additional 414 shares during the last quarter. DV Equities LLC acquired a new stake in shares of Victoria’s Secret & Co. during the 4th quarter worth about $49,000. Finally, Quantbot Technologies LP acquired a new position in shares of Victoria’s Secret & Co. in the third quarter valued at approximately $53,000. 90.29% of the stock is currently 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.