Insider Selling: Victoria’s Secret & Co. (NYSE:VSXY) Major Shareholder Sells $2,221,472.74 in Stock

Victoria’s Secret & Co. (NYSE:VSXY) major shareholder International Pte Ltd Bbrc sold 27,758 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $80.03, for a total value of $2,221,472.74. Following the completion of the sale, the insider owned 9,175,201 shares in the company, valued at $734,291,336.03. This represents a 0.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• 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 value of $88,735,603.92.

Victoria’s Secret & Co. Price Performance

NYSE:VSXY opened at $74.41 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.25 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average price is $51.60 and its two-hundred day moving average price is $52.75. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 40.01, a P/E/G ratio of 0.67 and a beta of 2.16. Victoria’s Secret & Co. has a 12-month low of $17.53 and a 12-month high of $81.28.

Victoria’s Secret & Co. (NYSE:VSXY) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.31. The firm 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 38.95% and a net margin of 3.11%.During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, analysts anticipate that Victoria’s Secret & Co. will post 4.07 earnings per share for the current year.

Hedge Funds Weigh In On Victoria’s Secret & Co.

Large investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Victoria’s Secret & Co. by 666.7% during the first quarter. Parallel Advisors LLC now owns 621 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Victoria’s Secret & Co. during the 3rd quarter worth $30,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Victoria’s Secret & Co. during the 4th quarter worth $33,000. Hantz Financial Services Inc. increased its stake in Victoria’s Secret & Co. by 104.3% during the 4th quarter. Hantz Financial Services Inc. now owns 811 shares of the company’s stock worth $44,000 after acquiring an additional 414 shares during the period. Finally, State of Wyoming bought a new position in Victoria’s Secret & Co. during the 3rd quarter worth $48,000. Institutional investors own 90.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on VSXY shares. TD Cowen upped their price objective on Victoria’s Secret & Co. from $50.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday. UBS Group lowered Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and upped their price objective for the company from $81.00 to $90.00 in a research note on Wednesday. Bank of America upgraded Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $68.00 in a research note on Wednesday, April 29th. Weiss Ratings lowered Victoria’s Secret & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group lowered Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and increased their target price for the stock from $65.00 to $73.00 in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.80.

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.