Insider Buying: Victoria’s Secret & Co. (NYSE:VSCO) Major Shareholder Buys 542,000 Shares of 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 dated Monday, March 10th. The stock was purchased at an average price of $17.32 per share, with a total value of $9,387,440.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Victoria’s Secret & Co. Stock Up 5.9 %

Shares of Victoria’s Secret & Co. stock opened at $17.22 on Thursday. The business’s fifty day moving average price is $32.27 and its two-hundred day moving average price is $32.36. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.17 and a quick ratio of 0.33. The company has a market capitalization of $1.35 billion, a P/E ratio of 8.92, a PEG ratio of 1.15 and a beta of 2.16. Victoria’s Secret & Co. has a 1-year low of $15.12 and a 1-year high of $48.73.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 44.74% and a net margin of 2.47%. As a group, research analysts forecast that Victoria’s Secret & Co. will post 2.37 EPS for the current year.

Institutional Trading of Victoria’s Secret & Co.

Hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of 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 in the last quarter. Wakefield Asset Management LLLP bought a new stake in shares of Victoria’s Secret & Co. in the 4th quarter worth $991,000. Forest Avenue Capital Management LP bought a new stake in shares of Victoria’s Secret & Co. in the 3rd quarter worth $40,861,000. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Victoria’s Secret & Co. in the 4th quarter worth $2,435,000. Finally, Oliver Luxxe Assets LLC bought a new stake in shares of Victoria’s Secret & Co. in the 4th quarter worth $1,963,000. Institutional investors own 90.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on VSCO shares. Bank of America decreased their target price on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th. TD Cowen lifted their target price on Victoria’s Secret & Co. from $35.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. cut their price target on 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. Morgan Stanley cut their price target on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, Cowen reissued a “hold” rating on shares of Victoria’s Secret & Co. in a report on Friday, March 7th. Two equities research 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.73.

About Victoria’s Secret & Co.

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.