Point72 Hong Kong Ltd purchased a new position in Victoria’s Secret (NYSE:VSCO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,321 shares of the company’s stock, valued at approximately $1,068,000.
A number of other institutional investors and hedge funds also recently modified their holdings of VSCO. BlackRock Inc. purchased a new stake in Victoria’s Secret in the third quarter worth about $372,618,000. Egerton Capital UK LLP purchased a new stake in shares of Victoria’s Secret during the third quarter worth about $217,552,000. Primecap Management Co. CA purchased a new stake in shares of Victoria’s Secret during the third quarter worth about $124,326,000. Palestra Capital Management LLC purchased a new stake in shares of Victoria’s Secret during the third quarter worth about $104,673,000. Finally, Coatue Management LLC purchased a new stake in shares of Victoria’s Secret during the third quarter worth about $59,210,000. Institutional investors and hedge funds own 90.92% of the company’s stock.
Shares of NYSE:VSCO opened at $59.95 on Wednesday. The firm has a fifty day moving average of $54.46. Victoria’s Secret has a 12-month low of $45.65 and a 12-month high of $76.00. The company has a current ratio of 1.01, a quick ratio of 0.37 and a debt-to-equity ratio of 3.88.
Victoria’s Secret (NYSE:VSCO) last announced its quarterly earnings results on Thursday, November 18th. The company reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.10. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.46 billion. The business’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Victoria’s Secret will post 7.04 EPS for the current year.
In related news, CEO Gregory Unis sold 6,357 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $57.19, for a total value of $363,556.83. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne Sheehan sold 1,033 shares of the company’s stock in a transaction that occurred on Tuesday, November 23rd. The shares were sold at an average price of $57.80, for a total value of $59,707.40. The disclosure for this sale can be found here.
Several research firms recently issued reports on VSCO. Telsey Advisory Group cut their target price on Victoria’s Secret from $73.00 to $60.00 and set a “market perform” rating for the company in a research report on Thursday, November 18th. B. Riley cut their target price on Victoria’s Secret from $87.00 to $77.00 and set a “buy” rating for the company in a research report on Friday, November 19th. Wells Fargo & Company dropped their price target on Victoria’s Secret from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, November 18th. They noted that the move was a valuation call. UBS Group started coverage on Victoria’s Secret in a research note on Monday, January 24th. They set a “neutral” rating and a $59.00 price target for the company. Finally, Morgan Stanley reissued an “equal weight” rating and set a $69.00 price target (down from $76.00) on shares of Victoria’s Secret in a research note on Monday, December 27th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Victoria’s Secret presently has an average rating of “Buy” and an average target price of $81.00.
Victoria’s Secret Profile
Victoria’s Secret & Co is an intimate specialty retailer offering assortment of modern, fashion-inspired collections including signature bras, panties, lingerie, casual sleepwear and athleisure, as well as prestige fragrances and body care. Victoria’s Secret & Co is based in COLUMBUS, Ohio.
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