Victoria’s Secret & Co. (NYSE:VSCO) Shares Gap Down – What’s Next?

Victoria’s Secret & Co. (NYSE:VSCO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $37.90, but opened at $33.75. Victoria’s Secret & Co. shares last traded at $36.27, with a volume of 992,708 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on VSCO. JPMorgan Chase & Co. raised Victoria’s Secret & Co. from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $29.00 to $45.00 in a research report on Monday, December 9th. Bank of America cut their target price on shares of Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating for the company in a research report on Thursday. BMO Capital Markets lifted their price objective on Victoria’s Secret & Co. from $33.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. TD Cowen boosted their price target 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. Finally, Barclays upgraded shares of Victoria’s Secret & Co. from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $51.00 to $53.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $42.36.

Victoria’s Secret & Co. Trading Up 1.9 %

The company’s 50-day moving average price is $40.67 and its 200 day moving average price is $30.54. The stock has a market cap of $2.90 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.11 and a beta of 2.14. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Thursday, December 5th. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.12. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted ($0.86) earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Victoria’s Secret & Co. will post 2.34 EPS for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Victoria’s Secret & Co. by 13.5% during the second quarter. Dimensional Fund Advisors LP now owns 917,017 shares of the company’s stock worth $16,206,000 after acquiring an additional 109,013 shares during the last quarter. Sei Investments Co. raised its holdings in Victoria’s Secret & Co. by 1.9% during the second quarter. Sei Investments Co. now owns 175,553 shares of the company’s stock worth $3,102,000 after purchasing an additional 3,253 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Victoria’s Secret & Co. by 234.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,577 shares of the company’s stock valued at $735,000 after buying an additional 29,161 shares during the period. Algert Global LLC boosted its position in shares of Victoria’s Secret & Co. by 107.6% during the 2nd quarter. Algert Global LLC now owns 97,321 shares of the company’s stock worth $1,720,000 after purchasing an additional 50,451 shares in the last quarter. Finally, Quarry LP boosted its holdings in Victoria’s Secret & Co. by 126.6% during the second quarter. Quarry LP now owns 3,157 shares of the company’s stock worth $56,000 after buying an additional 1,764 shares in the last quarter. 90.29% of the stock is currently 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.