Fifth Third Bancorp Has $2.50 Million Stake in Victoria’s Secret & Co. $VSXY

Fifth Third Bancorp grew its stake in shares of Victoria’s Secret & Co. (NYSE:VSXY) by 4,596.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,870 shares of the company’s stock after buying an additional 52,723 shares during the period. Fifth Third Bancorp owned approximately 0.07% of Victoria’s Secret & Co. worth $2,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of VSXY. Geode Capital Management LLC grew its holdings 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 period. Allspring Global Investments Holdings LLC bought a new stake in Victoria’s Secret & Co. in the fourth quarter valued at approximately $7,790,000. Landscape Capital Management L.L.C. raised its holdings in 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 purchasing an additional 57,133 shares during the period. Apollon Wealth Management LLC bought a new position in shares of Victoria’s Secret & Co. during the first quarter worth $940,000. Finally, Comerica Bank boosted its position in shares of Victoria’s Secret & Co. by 129.3% during the fourth quarter. Comerica Bank now owns 51,224 shares of the company’s stock worth $2,775,000 after purchasing an additional 28,889 shares in the last quarter. 90.29% of the stock is currently owned by institutional investors and hedge funds.

Victoria’s Secret & Co. Price Performance

VSXY stock opened at $87.10 on Wednesday. The stock has a 50-day moving average price of $71.24 and a two-hundred day moving average price of $60.19. Victoria’s Secret & Co. has a 1 year low of $18.04 and a 1 year high of $89.71. The stock has a market cap of $6.92 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 0.68 and a beta of 2.07. The company has a current ratio of 1.26, a quick ratio of 0.41 and a debt-to-equity ratio of 1.17.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.31. The company 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 in the previous year, the company posted $0.09 earnings per share. Equities analysts forecast that Victoria’s Secret & Co. will post 4.65 EPS for the current fiscal year.

Insider Transactions at Victoria’s Secret & Co.

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $88.50, for a total value of $24,441,133.50. Following the sale, the insider owned 8,899,030 shares in the company, valued at approximately $787,564,155. The trade was a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 1,411,601 shares of company stock valued at $115,398,210. 0.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on VSXY shares. Morgan Stanley reaffirmed an “overweight” rating and set a $99.00 price target on shares of Victoria’s Secret & Co. in a research report on Monday, July 6th. Wells Fargo & Company boosted their price objective on Victoria’s Secret & Co. from $57.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Barclays increased their target price on Victoria’s Secret & Co. from $67.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. raised their target price on shares of Victoria’s Secret & Co. from $77.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Finally, Weiss Ratings raised shares of Victoria’s Secret & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Victoria’s Secret & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

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.