Bessemer Group Inc. Acquires 30,589 Shares of Victoria’s Secret & Co. $VSXY

Bessemer Group Inc. grew its stake in shares of Victoria’s Secret & Co. (NYSE:VSXY) by 47.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,167 shares of the company’s stock after purchasing an additional 30,589 shares during the quarter. Bessemer Group Inc. owned approximately 0.12% of Victoria’s Secret & Co. worth $4,412,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in VSXY. Baird Financial Group Inc. purchased a new stake in Victoria’s Secret & Co. in the 1st quarter valued at about $233,000. Royal Bank of Canada raised its holdings in shares of Victoria’s Secret & Co. by 279.1% in the first 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Victoria’s Secret & Co. by 2.9% in the first 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 in the last quarter. Invesco Ltd. lifted its stake in 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 during the period. Finally, First Trust Advisors LP lifted its stake in 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 during the period. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Stock Performance

Shares of Victoria’s Secret & Co. stock opened at $87.80 on Tuesday. The company has a market capitalization of $6.97 billion, a PE ratio of 47.20, a P/E/G ratio of 0.64 and a beta of 2.07. The company has a 50-day simple moving average of $70.43 and a two-hundred day simple moving average of $59.96. Victoria’s Secret & Co. has a one year low of $18.04 and a one year high of $88.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.41 and a current ratio of 1.26.

Victoria’s Secret & Co. (NYSE:VSXY) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.31. Victoria’s Secret & Co. had a net margin of 3.11% and a return on equity of 38.03%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business earned $0.09 EPS. Research analysts expect that Victoria’s Secret & Co. will post 4.65 EPS for the current fiscal year.

Analyst Ratings Changes

VSXY has been the topic of a number of research reports. TD Cowen raised their target price on shares of Victoria’s Secret & Co. from $50.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, June 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $99.00 price target on shares of Victoria’s Secret & Co. in a research report on Monday, July 6th. The Goldman Sachs Group increased their price objective on shares of Victoria’s Secret & Co. from $56.00 to $84.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Wells Fargo & Company boosted their price objective on shares of Victoria’s Secret & Co. from $57.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings raised Victoria’s Secret & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc sold 276,171 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $88.50, for a total value of $24,441,133.50. Following the completion of the sale, the insider directly owned 8,899,030 shares in the company, valued at $787,564,155. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,411,601 shares of company stock valued at $115,398,210 in the last three months. 0.52% of the stock is owned by company insiders.

Victoria’s Secret & Co. Profile

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.