Wellington Management Group LLP Acquires Shares of 69,513 Victoria’s Secret & Co. $VSXY

Wellington Management Group LLP acquired a new position in shares of Victoria’s Secret & Co. (NYSE:VSXY) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 69,513 shares of the company’s stock, valued at approximately $5,803,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Victoria’s Secret & Co. by 2.8% in the fourth 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 during the last quarter. Landscape Capital Management L.L.C. increased 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 acquiring an additional 57,133 shares during the period. California State Teachers Retirement System increased its holdings in shares of Victoria’s Secret & Co. by 23.5% in the 1st quarter. California State Teachers Retirement System now owns 84,333 shares of the company’s stock valued at $3,910,000 after acquiring an additional 16,044 shares during the period. Sequoia Financial Advisors LLC raised its position in 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 purchasing an additional 12,750 shares during the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in Victoria’s Secret & Co. during the 1st quarter worth $940,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

Insider Buying and Selling at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc sold 798,920 shares of the company’s 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 owned 7,810,631 shares of the company’s stock, valued at $696,317,753.65. This represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 1,364,570 shares of company stock valued at $121,396,640 in the last quarter. 0.52% of the stock is owned by insiders.

Victoria’s Secret & Co. Trading Down 2.8%

Shares of Victoria’s Secret & Co. stock opened at $76.28 on Thursday. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 0.53 and a beta of 2.05. Victoria’s Secret & Co. has a 52-week low of $25.09 and a 52-week high of $102.46. The company’s 50-day simple moving average is $85.05 and its 200-day simple moving average is $67.13. The company has a quick ratio of 0.41, a current ratio of 1.36 and a debt-to-equity ratio of 0.92.

Victoria’s Secret & Co. (NYSE:VSXY) last released its earnings results on Thursday, September 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.18. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations 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. As a group, equities research analysts anticipate that Victoria’s Secret & Co. will post 4.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VSXY. Wall Street Zen downgraded shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. The Goldman Sachs Group increased their target price on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. UBS Group lowered their price target on Victoria’s Secret & Co. from $95.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, September 4th. Weiss Ratings upgraded Victoria’s Secret & Co. from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Telsey Advisory Group upped their price objective on Victoria’s Secret & Co. from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.00.

About Victoria’s Secret & Co.

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.