Victoria’s Secret & Co. (NYSE:VSCO) Trading Down 5.8% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

VSCO has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Telsey Advisory Group decreased 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 report on Thursday, March 6th. TD Cowen raised their price objective on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Morgan Stanley lowered their price target on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Finally, Bank of America dropped their price objective 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, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Victoria’s Secret & Co. currently has an average rating of “Hold” and a consensus target price of $31.73.

Victoria’s Secret & Co. Trading Down 4.8 %

The business has a 50 day moving average of $28.99 and a 200 day moving average of $32.19. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 1.15 and a beta of 2.16. 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 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.30. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations 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 predict that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc purchased 80,328 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $16.78 per share, with a total value of $1,347,903.84. Following the completion of the transaction, the insider now directly owns 9,255,347 shares in the company, valued at $155,304,722.66. This trade represents a 0.88 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Victoria’s Secret & Co.

A number of large investors have recently bought and sold shares of VSCO. Virtus Fund Advisers LLC acquired a new position in shares of Victoria’s Secret & Co. in the third quarter valued at approximately $27,000. CoreCap Advisors LLC boosted its stake in Victoria’s Secret & Co. by 1,898.1% in the 4th quarter. CoreCap Advisors LLC now owns 2,058 shares of the company’s stock worth $85,000 after purchasing an additional 1,955 shares during the period. Smartleaf Asset Management LLC increased its holdings in Victoria’s Secret & Co. by 326.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company’s stock worth $92,000 after purchasing an additional 1,682 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Victoria’s Secret & Co. by 47.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company’s stock valued at $104,000 after purchasing an additional 800 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Victoria’s Secret & Co. in the fourth quarter valued at about $112,000. 90.29% of the stock is owned by 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.