Victoria’s Secret & Co. (NYSE:VSCO) Stock Price Down 5.8% – What’s Next?

Shares of Victoria’s Secret & Co. (NYSE:VSCO) traded down 5.8% during mid-day trading on Wednesday . The company traded as low as $19.54 and last traded at $19.38. 1,096,401 shares were traded during mid-day trading, a decline of 59% from the average session volume of 2,699,361 shares. The stock had previously closed at $20.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on VSCO shares. Bank of America reduced their price target on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating for the company in a report on Thursday, January 30th. Cowen restated a “hold” rating on shares of Victoria’s Secret & Co. in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group reduced their target price on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating for the company in a report on Monday, March 10th. Finally, TD Cowen upped their price target on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.73.

Victoria’s Secret & Co. Stock Performance

The stock’s 50-day simple moving average is $28.31 and its 200-day simple moving average is $32.02. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 9.49, a price-to-earnings-growth ratio of 1.15 and a beta of 2.16. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12.

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

Insider Buying and Selling

In other news, major shareholder International Pte Ltd Bbrc purchased 542,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $17.32 per share, with a total value of $9,387,440.00. Following the acquisition, the insider now owns 8,695,019 shares in the company, valued at approximately $150,597,729.08. The trade was a 6.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new stake in shares of Victoria’s Secret & Co. in the 3rd quarter valued at $27,000. CoreCap Advisors LLC boosted its stake in 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 in the last quarter. Smartleaf Asset Management LLC grew its position in Victoria’s Secret & Co. by 326.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company’s stock valued at $92,000 after acquiring an additional 1,682 shares during the last quarter. Canada Pension Plan Investment Board raised its stake 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 acquiring an additional 800 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Victoria’s Secret & Co. in the fourth quarter worth about $112,000. 90.29% of the stock is currently owned by institutional investors and hedge funds.

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.