Sterling Capital Management LLC Boosts Holdings in Victoria’s Secret & Co. $VSXY

Sterling Capital Management LLC raised its position in Victoria’s Secret & Co. (NYSE:VSXY) by 232.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,859 shares of the company’s stock after purchasing an additional 6,890 shares during the period. Sterling Capital Management LLC’s holdings in Victoria’s Secret & Co. were worth $457,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new stake in shares of Victoria’s Secret & Co. in the first quarter worth $1,650,000. OP Asset Management Ltd purchased a new position in Victoria’s Secret & Co. during the first quarter worth about $405,000. Diversified Trust Co increased its stake in Victoria’s Secret & Co. by 20.7% in the 1st quarter. Diversified Trust Co now owns 4,981 shares of the company’s stock worth $231,000 after acquiring an additional 853 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Victoria’s Secret & Co. by 48.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,122 shares of the company’s stock valued at $61,000 after acquiring an additional 364 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Victoria’s Secret & Co. by 35.2% in the 4th quarter. Corient Private Wealth LLC now owns 21,157 shares of the company’s stock valued at $1,146,000 after acquiring an additional 5,514 shares in the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

Victoria’s Secret & Co. Stock Performance

Victoria’s Secret & Co. stock opened at $76.46 on Friday. 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 company has a market capitalization of $6.07 billion, a PE ratio of 41.11, a P/E/G ratio of 0.61 and a beta of 2.07. The firm has a fifty day simple moving average of $63.40 and a two-hundred day simple moving average of $57.82. Victoria’s Secret & Co. has a twelve month low of $17.53 and a twelve month high of $88.57.

Victoria’s Secret & Co. (NYSE:VSXY) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.31. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations 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 firm earned $0.09 earnings per share. Research analysts expect that Victoria’s Secret & Co. will post 4.61 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $88.50, for a total transaction of $24,441,133.50. Following the completion of the sale, the insider directly owned 8,899,030 shares in the company, valued at $787,564,155. This represents a 3.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 1,411,601 shares of company stock worth $115,398,210. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on VSXY shares. TD Cowen lifted their price target on 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. Zacks Research raised shares of Victoria’s Secret & Co. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Bank of America raised shares of 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 note on Wednesday, April 29th. UBS Group lowered shares of Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and lifted their target price for the company from $81.00 to $90.00 in a research report on Wednesday, June 3rd. Finally, Telsey Advisory Group boosted their price target on shares of Victoria’s Secret & Co. from $71.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.60.

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.