Insider Buying: Victoria’s Secret & Co. (NYSE:VSCO) Major Shareholder Acquires $9,387,440.00 in Stock

Victoria’s Secret & Co. (NYSE:VSCO) major shareholder International Pte Ltd Bbrc bought 542,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $17.32 per share, for a total transaction of $9,387,440.00. Following the completion of the purchase, the insider now owns 8,695,019 shares of the company’s stock, valued at $150,597,729.08. This trade represents a 6.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, March 12th, International Pte Ltd Bbrc acquired 80,328 shares of Victoria’s Secret & Co. stock. The shares were bought at an average cost of $16.78 per share, for a total transaction of $1,347,903.84.

Victoria’s Secret & Co. Stock Performance

Shares of Victoria’s Secret & Co. stock opened at $18.55 on Friday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.15 and a beta of 2.16. The firm’s 50-day moving average is $31.34 and its 200 day moving average is $32.21. Victoria’s Secret & Co. has a 1 year low of $15.12 and a 1 year high of $48.73. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.17 and a quick ratio of 0.33.

Victoria’s Secret & Co. (NYSE:VSCO) last announced 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 net margin of 2.47% and a return on equity of 44.74%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Sell-side analysts anticipate that Victoria’s Secret & Co. will post 2.37 EPS for the current fiscal year.

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

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its position in Victoria’s Secret & Co. by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,631,150 shares of the company’s stock worth $67,562,000 after buying an additional 22,684 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in Victoria’s Secret & Co. in the 4th quarter worth about $991,000. Forest Avenue Capital Management LP purchased a new position in Victoria’s Secret & Co. in the 3rd quarter worth about $40,861,000. FengHe Fund Management Pte. Ltd. purchased a new position in Victoria’s Secret & Co. in the 4th quarter worth about $2,435,000. Finally, Oliver Luxxe Assets LLC purchased a new position in Victoria’s Secret & Co. in the 4th quarter worth about $1,963,000. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on VSCO shares. Telsey Advisory Group reduced their price objective on shares of Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating on the stock in a research report on Thursday, March 6th. The Goldman Sachs Group dropped their target price on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating on the stock in a report on Monday, March 10th. Bank of America dropped their target price on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, UBS Group dropped their target price on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Two 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, Victoria’s Secret & Co. has an average rating of “Hold” and an average price target of $31.73.

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.