CIBC Asset Management Inc Takes Position in Victoria’s Secret & Co. $VSXY

CIBC Asset Management Inc bought a new stake in Victoria’s Secret & Co. (NYSE:VSXY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,515 shares of the company’s stock, valued at approximately $407,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Victoria’s Secret & Co. in the third quarter valued at approximately $30,000. Hantz Financial Services Inc. grew its position in shares of Victoria’s Secret & Co. by 104.3% in the fourth quarter. Hantz Financial Services Inc. now owns 811 shares of the company’s stock valued at $44,000 after purchasing an additional 414 shares during the last quarter. State of Wyoming acquired a new position in shares of Victoria’s Secret & Co. in the third quarter valued at approximately $48,000. Quantbot Technologies LP acquired a new position in shares of Victoria’s Secret & Co. in the third quarter valued at approximately $53,000. Finally, Leonteq Securities AG acquired a new position in shares of Victoria’s Secret & Co. in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

Victoria’s Secret & Co. Trading Down 1.4%

Shares of NYSE:VSXY opened at $75.21 on Wednesday. The company has a market capitalization of $5.97 billion, a P/E ratio of 40.44, a P/E/G ratio of 0.64 and a beta of 2.16. Victoria’s Secret & Co. has a 1 year low of $17.53 and a 1 year high of $81.28. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.26 and a quick ratio of 0.54. The business’s 50 day simple moving average is $52.90 and its 200 day simple moving average is $53.45.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.31. The business 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 prior year, the business posted $0.09 earnings per share. On average, research analysts anticipate that Victoria’s Secret & Co. will post 4.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, Director Donna James bought 2,175 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was purchased at an average cost of $46.23 per share, for a total transaction of $100,550.25. Following the completion of the purchase, the director directly owned 63,097 shares of the company’s stock, valued at approximately $2,916,974.31. This trade represents a 3.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anne Sheehan bought 4,842 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were acquired at an average price of $45.86 per share, with a total value of $222,054.12. Following the completion of the purchase, the director directly owned 34,261 shares of the company’s stock, valued at approximately $1,571,209.46. The trade was a 16.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on VSXY. Barclays upped their target price on Victoria’s Secret & Co. from $67.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Telsey Advisory Group increased their price target on Victoria’s Secret & Co. from $71.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group increased their price target on 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. Jefferies Financial Group downgraded Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and increased their price target for the stock from $65.00 to $73.00 in a research report on Wednesday, June 3rd. Finally, Wells Fargo & Company increased their price target on Victoria’s Secret & Co. from $57.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.60.

Victoria’s Secret & Co. 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.