OP Asset Management Ltd Buys Shares of 8,743 Victoria’s Secret & Co. $VSXY

OP Asset Management Ltd bought a new position in shares of Victoria’s Secret & Co. (NYSE:VSXY) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,743 shares of the company’s stock, valued at approximately $405,000.

A number of other institutional investors have also made changes to their positions in VSXY. Aster Capital Management DIFC Ltd acquired a new position in shares of Victoria’s Secret & Co. in the 3rd quarter worth approximately $30,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Victoria’s Secret & Co. in the 4th quarter valued at approximately $33,000. Hantz Financial Services Inc. raised its position in 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 period. DV Equities LLC purchased a new stake in Victoria’s Secret & Co. in the fourth quarter valued at approximately $49,000. Finally, Quantbot Technologies LP acquired a new position in Victoria’s Secret & Co. during the third quarter worth $53,000. 90.29% of the stock is currently owned by institutional investors and hedge funds.

Victoria’s Secret & Co. Stock Performance

NYSE:VSXY opened at $83.78 on Wednesday. Victoria’s Secret & Co. has a 52 week low of $17.53 and a 52 week high of $88.57. The company has a fifty day simple moving average of $62.50 and a two-hundred day simple moving average of $57.48. 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 cap of $6.65 billion, a price-to-earnings ratio of 45.04, a price-to-earnings-growth ratio of 0.68 and a beta of 2.16.

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 the consensus estimate of $0.29 by $0.31. The business 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. As a group, equities analysts anticipate that Victoria’s Secret & Co. will post 4.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anne Sheehan purchased 4,842 shares of Victoria’s Secret & Co. stock in a transaction on Thursday, April 2nd. The shares were bought at an average price of $45.86 per share, with a total value of $222,054.12. Following the transaction, the director directly owned 34,261 shares of the company’s stock, valued at approximately $1,571,209.46. This trade represents a 16.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna James acquired 2,175 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was bought at an average price of $46.23 per share, with a total value of $100,550.25. Following the purchase, the director directly owned 63,097 shares in the company, valued at approximately $2,916,974.31. This trade represents a 3.57% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 1,411,601 shares of company stock worth $115,398,210 in the last quarter. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Victoria’s Secret & Co. from $77.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Bank of America upgraded 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 report on Wednesday, April 29th. TD Cowen lifted their target price 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. Telsey Advisory Group lifted their target price on Victoria’s Secret & Co. from $71.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Barclays boosted their price target on shares of 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. 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’s stock. According to MarketBeat.com, Victoria’s Secret & Co. currently has an average rating of “Moderate Buy” and a consensus 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.