Victoria’s Secret & Co. (NYSE:VSXY) Cut to “Neutral” at Bank of America

Bank of America downgraded shares of Victoria’s Secret & Co. (NYSE:VSXY) from a buy rating to a neutral rating in a research report sent to investors on Thursday, MarketBeat reports. Bank of America currently has $112.00 price target on the stock, up from their previous price target of $95.00.

VSXY has been the topic of a number of other reports. Zacks Research cut Victoria’s Secret & Co. from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 11th. UBS Group dropped their price objective on Victoria’s Secret & Co. from $95.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, September 4th. Barclays increased their price objective on Victoria’s Secret & Co. from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, October 20th. BMO Capital Markets assumed coverage on shares of Victoria’s Secret & Co. in a report on Tuesday, September 8th. They issued a “market perform” rating and a $80.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Victoria’s Secret & Co. from $88.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $97.33.

Victoria’s Secret & Co. Trading Up 1.2%

Shares of NYSE:VSXY traded up $1.21 on Thursday, reaching $105.84. 997,828 shares of the company traded hands, compared to its average volume of 1,468,385. The stock has a market capitalization of $8.44 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 0.70 and a beta of 2.11. The business’s 50-day simple moving average is $89.67 and its 200 day simple moving average is $71.99. The company has a current ratio of 1.36, a quick ratio of 0.57 and a debt-to-equity ratio of 0.92. Victoria’s Secret & Co. has a 52 week low of $33.61 and a 52 week high of $116.32.

Victoria’s Secret & Co. (NYSE:VSXY) last released its earnings results on Thursday, September 3rd. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.18. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.62 billion. Victoria’s Secret & Co. had a return on equity of 40.43% and a net margin of 5.46%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that Victoria’s Secret & Co. will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling at Victoria’s Secret & Co.

In other news, insider Melinda McAfee sold 7,000 shares of Victoria’s Secret & Co. stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $98.90, for a total value of $692,300.00. Following the sale, the insider directly owned 156,817 shares in the company, valued at approximately $15,509,201.30. This trade represents a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 14,000 shares of company stock valued at $1,339,750. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Victoria’s Secret & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vista Cima Wealth Management LLC bought a new position in Victoria’s Secret & Co. in the 3rd quarter worth $590,000. Independent Advisor Alliance purchased a new stake in shares of Victoria’s Secret & Co. in the 3rd quarter worth about $260,000. Meeder Asset Management Inc. boosted its stake in shares of Victoria’s Secret & Co. by 474.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 38,481 shares of the company’s stock valued at $3,404,000 after purchasing an additional 31,786 shares in the last quarter. Landscape Capital Management L.L.C. boosted its stake in shares of Victoria’s Secret & Co. by 85.8% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 90,457 shares of the company’s stock valued at $8,002,000 after purchasing an additional 41,775 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in shares of Victoria’s Secret & Co. by 2,421.0% during the 3rd quarter. Voya Investment Management LLC now owns 544,003 shares of the company’s stock valued at $48,123,000 after purchasing an additional 522,424 shares in the last quarter. Hedge funds and other institutional investors own 90.29% of the company’s stock.

About Victoria’s Secret & Co.

Victoria’s Secret & Co. is a specialty retailer focused on intimate apparel, beauty products and related merchandise. Its offerings include bras, lingerie, panties, sleepwear, apparel, fragrances and body care products. The company operates under the Victoria’s Secret and PINK brands and also owns Adore Me, an intimate-apparel brand with a digital-first business. It serves customers through stores and e-commerce, primarily in North America, as well as through international operations and partners.