Insider Buying: Victoria’s Secret & Co. (NYSE:VSCO) Major Shareholder Acquires 212,500 Shares of Stock

Victoria’s Secret & Co. (NYSE:VSCO) major shareholder International Pte Ltd Bbrc bought 212,500 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was bought at an average cost of $16.15 per share, for a total transaction of $3,431,875.00. Following the transaction, the insider now directly owns 10,310,631 shares of the company’s stock, valued at $166,516,690.65. The trade was a 2.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• On Friday, March 28th, International Pte Ltd Bbrc bought 584,000 shares of Victoria’s Secret & Co. stock. The shares were bought at an average cost of $18.48 per share, with a total value of $10,792,320.00.
• On Wednesday, March 26th, International Pte Ltd Bbrc acquired 85,145 shares of Victoria’s Secret & Co. stock. The stock was bought at an average price of $19.47 per share, for a total transaction of $1,657,773.15.
• On Wednesday, March 12th, International Pte Ltd Bbrc bought 80,328 shares of Victoria’s Secret & Co. stock. The stock was bought at an average price of $16.78 per share, with a total value of $1,347,903.84.
• On Monday, March 10th, International Pte Ltd Bbrc purchased 542,000 shares of Victoria’s Secret & Co. stock. The shares were purchased at an average price of $17.32 per share, for a total transaction of $9,387,440.00.

Victoria’s Secret & Co. Stock Performance

Shares of Victoria’s Secret & Co. stock opened at $16.83 on Friday. 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. has a 52 week low of $13.76 and a 52 week high of $48.73. The firm’s 50 day moving average is $25.88 and its two-hundred day moving average is $31.81. The firm has a market capitalization of $1.32 billion, a P/E ratio of 8.72, a P/E/G ratio of 1.15 and a beta of 2.16.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VSCO. TD Cowen lifted their price objective on 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. Wells Fargo & Company reduced their target price on shares of Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Morgan Stanley cut their price objective on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Barclays decreased their target price on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Bank of America cut their price target on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating on the stock in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.73.

Institutional Trading of Victoria’s Secret & Co.

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Victoria’s Secret & Co. by 1.0% during the third quarter. The Manufacturers Life Insurance Company now owns 41,989 shares of the company’s stock worth $1,079,000 after buying an additional 412 shares during the period. FMR LLC increased its holdings in shares of Victoria’s Secret & Co. by 146.1% in the 3rd quarter. FMR LLC now owns 2,757,032 shares of the company’s stock valued at $70,856,000 after acquiring an additional 1,636,602 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Victoria’s Secret & Co. by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 45,652 shares of the company’s stock valued at $1,173,000 after acquiring an additional 25,723 shares during the period. Holocene Advisors LP purchased a new stake in Victoria’s Secret & Co. in the 3rd quarter valued at $240,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Victoria’s Secret & Co. during the 3rd quarter worth $330,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

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.