Victoria’s Secret & Co. (NYSE:VSXY) Major Shareholder Sells $71,223,718.00 in Stock

Victoria’s Secret & Co. (NYSE:VSXY) major shareholder International Pte Ltd Bbrc sold 798,920 shares of Victoria’s Secret & Co. stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $89.15, for a total transaction of $71,223,718.00. Following the transaction, the insider directly owned 7,810,631 shares in the company, valued at $696,317,753.65. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 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 Wednesday, July 22nd, International Pte Ltd Bbrc sold 289,479 shares of Victoria’s Secret & Co. stock. The stock was sold at an average price of $88.89, for a total transaction of $25,731,788.31.
• 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 transaction 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 shares were sold at an average price of $80.11, for a total transaction of $88,735,603.92.

Victoria’s Secret & Co. Stock Down 0.5%

Victoria’s Secret & Co. stock traded down $0.41 during midday trading on Wednesday, hitting $88.90. 1,848,680 shares of the stock were exchanged, compared to its average volume of 2,247,122. Victoria’s Secret & Co. has a 52-week low of $18.04 and a 52-week high of $91.46. 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 business’s 50-day moving average price is $75.26 and its 200-day moving average price is $61.23. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 47.80, a price-to-earnings-growth ratio of 0.67 and a beta of 2.07.

Victoria’s Secret & Co. (NYSE:VSXY) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.29 by $0.31. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business posted $0.09 EPS. On average, research analysts expect that Victoria’s Secret & Co. will post 4.65 EPS for the current fiscal year.

Institutional Trading of Victoria’s Secret & Co.

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

Analyst Ratings Changes

A number of analysts recently commented on VSXY shares. JPMorgan Chase & Co. lifted their price target on Victoria’s Secret & Co. from $88.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Company upped their price objective on Victoria’s Secret & Co. from $57.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Bank of America raised Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $68.00 in a research report on Wednesday, April 29th. UBS Group cut Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $81.00 to $90.00 in a research note on Wednesday, June 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $99.00 price target on shares of Victoria’s Secret & Co. in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.70.

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.