Victoria’s Secret & Co. (NYSE:VSCO) Posts Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Victoria’s Secret & Co. (NYSE:VSCO) posted its earnings results on Tuesday. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.31, FiscalAI reports. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. Victoria’s Secret & Co. had a net margin of 2.45% and a return on equity of 33.55%.

Victoria’s Secret & Co. Price Performance

Victoria’s Secret & Co. stock opened at $54.74 on Tuesday. Victoria’s Secret & Co. has a 1 year low of $17.53 and a 1 year high of $66.89. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.54 and a current ratio of 1.25. The company’s fifty day moving average price is $49.54 and its 200 day moving average price is $51.89. The stock has a market capitalization of $4.35 billion, a P/E ratio of 29.43, a P/E/G ratio of 0.95 and a beta of 2.16.

Analyst Ratings Changes

VSCO has been the subject of several recent research reports. UBS Group set a $58.00 target price on shares of Victoria’s Secret & Co. in a report on Friday, March 6th. Telsey Advisory Group lifted their price target on shares of Victoria’s Secret & Co. from $66.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Bank of America raised shares of Victoria’s Secret & Co. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $58.00 to $68.00 in a research note on Wednesday, April 29th. Barclays lifted their price target on shares of Victoria’s Secret & Co. from $65.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Finally, TD Cowen dropped their price target on shares of Victoria’s Secret & Co. from $60.00 to $58.00 and set a “hold” rating on the stock in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.80.

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

In other Victoria’s Secret & Co. news, Director Anne Sheehan bought 4,842 shares of the 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 purchase, the director directly owned 34,261 shares in the company, valued at $1,571,209.46. This trade represents a 16.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Donna James bought 2,175 shares of the stock in a transaction on Thursday, April 2nd. The shares were acquired at an average cost of $46.23 per share, for a total transaction of $100,550.25. Following the purchase, the director owned 63,097 shares in the company, valued at $2,916,974.31. The trade was a 3.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VSCO. Baird Financial Group Inc. acquired a new stake in Victoria’s Secret & Co. during the 1st quarter worth $233,000. Royal Bank of Canada boosted its position in shares of Victoria’s Secret & Co. by 279.1% during the 1st quarter. Royal Bank of Canada now owns 47,839 shares of the company’s stock valued at $888,000 after acquiring an additional 35,220 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Victoria’s Secret & Co. by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,949 shares of the company’s stock valued at $1,170,000 after acquiring an additional 1,797 shares during the last quarter. Invesco Ltd. boosted its position in shares of Victoria’s Secret & Co. by 8.0% during the 2nd quarter. Invesco Ltd. now owns 772,884 shares of the company’s stock valued at $14,314,000 after acquiring an additional 57,048 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Victoria’s Secret & Co. by 194.4% during the 2nd quarter. First Trust Advisors LP now owns 152,625 shares of the company’s stock valued at $2,827,000 after acquiring an additional 100,787 shares during the last quarter. Institutional investors and hedge funds own 90.29% of the company’s stock.

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.