ARGA Investment Management LP Sells 38,489 Shares of Victoria’s Secret & Co. $VSXY

ARGA Investment Management LP lowered its holdings in shares of Victoria’s Secret & Co. (NYSE:VSXY) by 75.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,341 shares of the company’s stock after selling 38,489 shares during the quarter. ARGA Investment Management LP’s holdings in Victoria’s Secret & Co. were worth $572,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of Victoria’s Secret & Co. by 4.5% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,755 shares of the company’s stock valued at $267,000 after purchasing an additional 250 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in shares of Victoria’s Secret & Co. by 770.2% in the first quarter. Y Intercept Hong Kong Ltd now owns 92,430 shares of the company’s stock valued at $4,285,000 after buying an additional 81,808 shares during the period. Leonteq Securities AG increased its position in shares of Victoria’s Secret & Co. by 146.6% during the first quarter. Leonteq Securities AG now owns 2,461 shares of the company’s stock worth $114,000 after acquiring an additional 1,463 shares in the last quarter. Strs Ohio increased its position in shares of Victoria’s Secret & Co. by 192.0% during the first quarter. Strs Ohio now owns 7,300 shares of the company’s stock worth $338,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Victoria’s Secret & Co. during the first quarter worth $940,000. Institutional investors own 90.29% of the company’s stock.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of the firm’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 completion of the sale, the insider directly owned 8,899,030 shares of the company’s stock, valued at $787,564,155. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 1,411,601 shares of company stock valued at $115,398,210 over the last ninety days. Company insiders own 0.52% of the company’s stock.

Victoria’s Secret & Co. Stock Up 2.9%

Shares of VSXY stock opened at $78.38 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26. The firm’s 50-day moving average is $66.42 and its 200-day moving average is $58.75. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 42.14, a PEG ratio of 0.60 and a beta of 2.07. Victoria’s Secret & Co. has a 52-week low of $17.53 and a 52-week high of $88.57.

Victoria’s Secret & Co. (NYSE:VSXY) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.31. The business had revenue of $1.56 billion during 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 quarter last year, the company posted $0.09 earnings per share. Sell-side analysts predict that Victoria’s Secret & Co. will post 4.65 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. 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 report on Wednesday, June 3rd. UBS Group lowered Victoria’s Secret & Co. from a “buy” rating to a “neutral” rating and boosted their price target for the company from $81.00 to $90.00 in a report on Wednesday, June 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $99.00 price objective on shares of Victoria’s Secret & Co. in a research report on Monday. The Goldman Sachs Group increased their price objective on Victoria’s Secret & Co. from $56.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings raised Victoria’s Secret & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report 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 given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Victoria’s Secret & Co. Company 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.