Victoria’s Secret & Co. (NYSE:VSXY) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Victoria’s Secret & Co. (NYSE:VSXY) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $88.00 to $110.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 23.33% from the company’s previous close.

Several other research firms have also issued reports on VSXY. 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. TD Cowen increased their price target on shares of Victoria’s Secret & Co. from $50.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, June 4th. Wells Fargo & Company boosted their price objective on shares of Victoria’s Secret & Co. from $57.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Barclays upped their target price on shares of 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 price target on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the stock a “neutral” rating in a research 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, Victoria’s Secret & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $88.70.

Victoria’s Secret & Co. Trading Up 4.5%

VSXY traded up $3.87 during trading on Tuesday, reaching $89.19. 986,051 shares of the company’s stock were exchanged, compared to its average volume of 2,237,902. The company’s fifty day moving average price is $74.38 and its 200-day moving average price is $61.03. The firm has a market capitalization of $7.08 billion, a PE ratio of 47.95, a P/E/G ratio of 0.65 and a beta of 2.07. Victoria’s Secret & Co. has a fifty-two week low of $18.04 and a fifty-two week high of $90.00. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26.

Victoria’s Secret & Co. (NYSE:VSXY) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $0.09 EPS. As a group, equities analysts forecast that Victoria’s Secret & Co. will post 4.65 EPS for the current year.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of Victoria’s Secret & Co. stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total value of $88,735,603.92. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 1,701,080 shares of company stock valued at $141,129,998 over the last ninety days. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Victoria’s Secret & Co.

Several hedge funds have recently modified their holdings of VSXY. Geode Capital Management LLC boosted its position in Victoria’s Secret & Co. by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,760,139 shares of the company’s stock valued at $95,365,000 after purchasing an additional 47,462 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Victoria’s Secret & Co. during the 4th quarter worth approximately $7,790,000. Landscape Capital Management L.L.C. boosted its holdings in shares of Victoria’s Secret & Co. by 47.5% in the 4th quarter. Landscape Capital Management L.L.C. now owns 177,423 shares of the company’s stock valued at $9,611,000 after buying an additional 57,133 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Victoria’s Secret & Co. in the 1st quarter valued at approximately $940,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Victoria’s Secret & Co. by 212.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,754 shares of the company’s stock valued at $869,000 after buying an additional 12,750 shares during the last quarter. Institutional investors own 90.29% of the company’s stock.

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.