Victoria’s Secret & Co. (NYSE:VSCO) Shares Up 4.2% – Here’s Why

Victoria’s Secret & Co. (NYSE:VSCO)’s stock price traded up 4.2% during mid-day trading on Thursday . The company traded as high as $22.60 and last traded at $22.59. 1,131,210 shares changed hands during trading, a decline of 58% from the average session volume of 2,678,988 shares. The stock had previously closed at $21.68.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Cowen reiterated a “hold” rating on shares of Victoria’s Secret & Co. in a report on Friday, March 7th. Barclays dropped their price target on shares of Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group reduced their price objective on Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Finally, Morgan Stanley decreased their target price on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.73.

Victoria’s Secret & Co. Trading Up 2.4 %

The firm has a market cap of $1.75 billion, a PE ratio of 11.51, a P/E/G ratio of 1.15 and a beta of 2.16. The company’s fifty day moving average price is $30.24 and its two-hundred day moving average price is $32.20. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12.

Victoria’s Secret & Co. (NYSE:VSCO) last released its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.30. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. As a group, sell-side analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder International Pte Ltd Bbrc acquired 542,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $17.32 per share, with a total value of $9,387,440.00. Following the completion of the acquisition, the insider now owns 8,695,019 shares in the company, valued at approximately $150,597,729.08. This represents a 6.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Victoria’s Secret & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtus Fund Advisers LLC acquired a new position in Victoria’s Secret & Co. during the third quarter worth about $27,000. CoreCap Advisors LLC raised its position in shares of Victoria’s Secret & Co. by 1,898.1% in the fourth quarter. CoreCap Advisors LLC now owns 2,058 shares of the company’s stock valued at $85,000 after buying an additional 1,955 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Victoria’s Secret & Co. by 326.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company’s stock worth $92,000 after purchasing an additional 1,682 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Victoria’s Secret & Co. by 47.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company’s stock worth $104,000 after purchasing an additional 800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Victoria’s Secret & Co. during the fourth quarter worth approximately $112,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

Victoria’s Secret & Co. Company Profile

Victoria’s Secret & Co operates as a lingerie, clothing and beauty retailer. It offers bras, panties, lingerie, pajamas, sleep, sport and swim apparel, and beauty products. The company was founded in 1963 and is headquartered in Reynoldsburg, OH.