Victoria’s Secret & Co. $VSXY Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Victoria’s Secret & Co. (NYSE:VSXY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 128,543 shares of the company’s stock, valued at approximately $11,371,000. Mirae Asset Global Investments Co. Ltd. owned about 0.16% of Victoria’s Secret & Co. at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in VSXY. Squarepoint Ops LLC acquired a new position in Victoria’s Secret & Co. during the 2nd quarter valued at approximately $39,803,000. Baird Financial Group Inc. bought a new stake in shares of Victoria’s Secret & Co. during the 2nd quarter worth $30,622,000. Bank of America Corp DE lifted its stake in Victoria’s Secret & Co. by 61.9% during the first quarter. Bank of America Corp DE now owns 632,358 shares of the company’s stock valued at $29,316,000 after buying an additional 241,660 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Victoria’s Secret & Co. by 39.0% in the first quarter. Principal Financial Group Inc. now owns 530,793 shares of the company’s stock worth $24,608,000 after buying an additional 148,876 shares during the period. Finally, Wellington Management Group LLP acquired a new position in shares of Victoria’s Secret & Co. in the 2nd quarter valued at about $5,803,000. 90.29% of the stock is owned by institutional investors and hedge funds.

Victoria’s Secret & Co. Price Performance

VSXY stock opened at $109.10 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.36 and a quick ratio of 0.57. Victoria’s Secret & Co. has a 1 year low of $33.61 and a 1 year high of $109.82. The company’s 50-day moving average is $86.45 and its 200-day moving average is $70.31. The stock has a market capitalization of $8.70 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 0.67 and a beta of 2.11.

Victoria’s Secret & Co. (NYSE:VSXY) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.18. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.62 billion. Victoria’s Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%. The business’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts expect that Victoria’s Secret & Co. will post 4.75 EPS for the current fiscal year.

Insider Activity at Victoria’s Secret & Co.

In other news, insider Melinda McAfee sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $98.90, for a total transaction of $692,300.00. Following the transaction, the insider directly owned 156,817 shares of the company’s stock, valued at approximately $15,509,201.30. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,000 shares of company stock worth $1,339,750 over the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings raised shares of Victoria’s Secret & Co. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Morgan Stanley upped their price objective on Victoria’s Secret & Co. from $101.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. JPMorgan Chase & Co. lifted their price target on Victoria’s Secret & Co. from $88.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. TD Cowen raised their price target on Victoria’s Secret & Co. from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, August 18th. Finally, Needham & Company LLC began coverage on Victoria’s Secret & Co. in a research note on Friday, October 16th. They issued a “buy” rating and a $106.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

Victoria’s Secret & Co. Profile

Victoria’s Secret & Co is a specialty retailer focused on intimate apparel, lingerie, beauty products and related lifestyle merchandise. Its portfolio includes the Victoria’s Secret brand, which offers bras, panties, lingerie, sleepwear, apparel, accessories, fragrances and personal-care products, and PINK, which targets younger customers with lingerie, loungewear, apparel, beauty products and accessories.

The company also operates Adore Me, a digitally focused intimates brand known for a broad range of sizes and subscription-based shopping options.