TD Cowen Raises Victoria’s Secret & Co. (NYSE:VSXY) Price Target to $80.00

Victoria’s Secret & Co. (NYSE:VSXY) had its price target boosted by stock analysts at TD Cowen from $75.00 to $80.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target points to a potential downside of 5.45% from the company’s previous close.

Several other equities analysts have also weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Victoria’s Secret & Co. from $88.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. UBS Group increased their target price on shares of Victoria’s Secret & Co. from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $99.00 price target on shares of Victoria’s Secret & Co. in a report on Monday, July 6th. Telsey Advisory Group lifted their price target on shares of 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, Jefferies Financial Group downgraded shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $65.00 to $73.00 in a research note on Wednesday, June 3rd. One investment 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.70.

Victoria’s Secret & Co. Trading Up 0.6%

Shares of VSXY traded up $0.51 during trading hours on Tuesday, hitting $84.61. The stock had a trading volume of 139,152 shares, compared to its average volume of 2,175,225. 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 has a market cap of $6.72 billion, a P/E ratio of 45.49, a P/E/G ratio of 0.70 and a beta of 2.06. The company’s fifty day simple moving average is $83.98 and its 200 day simple moving average is $64.18. Victoria’s Secret & Co. has a 12-month low of $21.23 and a 12-month high of $102.46.

Victoria’s Secret & Co. (NYSE:VSXY) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.09 earnings per share. Equities research analysts forecast that Victoria’s Secret & Co. will post 4.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 1,107,672 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $80.11, for a total value of $88,735,603.92. Following the completion of the sale, the insider owned 9,202,959 shares of the company’s stock, valued at $737,249,045.49. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 2,500,000 shares of company stock valued at $212,353,716. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Baird Financial Group Inc. purchased a new stake in Victoria’s Secret & Co. during the 1st quarter worth $233,000. Royal Bank of Canada increased its position in shares of Victoria’s Secret & Co. by 279.1% during the first quarter. Royal Bank of Canada now owns 47,839 shares of the company’s stock worth $888,000 after acquiring an additional 35,220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Victoria’s Secret & Co. by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company’s stock worth $1,170,000 after acquiring an additional 1,797 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Victoria’s Secret & Co. by 8.0% in the second quarter. Invesco Ltd. now owns 772,884 shares of the company’s stock worth $14,314,000 after acquiring an additional 57,048 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Victoria’s Secret & Co. by 194.4% in the second quarter. First Trust Advisors LP now owns 152,625 shares of the company’s stock worth $2,827,000 after acquiring an additional 100,787 shares in the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

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.