Victoria’s Secret & Co. (NYSE:VSCO) Trading Up 6.5% Following Insider Buying Activity

Victoria’s Secret & Co. (NYSE:VSCO)’s share price was up 6.5% during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $17.28 and last traded at $17.30. Approximately 3,277,173 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 2,850,160 shares. The stock had previously closed at $16.25.

Specifically, major shareholder International Pte Ltd Bbrc bought 542,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $17.32 per share, for a total transaction of $9,387,440.00. Following the purchase, the insider now directly owns 8,695,019 shares of the company’s stock, valued at approximately $150,597,729.08. This trade represents a 6.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have commented on VSCO shares. JPMorgan Chase & Co. decreased their price objective on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. The Goldman Sachs Group decreased their price objective on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating for the company in a research note on Monday. 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 for the company in a research note on Thursday, March 6th. Morgan Stanley decreased their price objective on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Finally, Barclays decreased their price objective on shares of Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Victoria’s Secret & Co. presently has a consensus rating of “Hold” and an average target price of $31.73.

Victoria’s Secret & Co. Stock Performance

The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12. The stock has a market capitalization of $1.46 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.15 and a beta of 2.16. The firm’s fifty day moving average price is $31.81 and its two-hundred day moving average price is $32.25.

Victoria’s Secret & Co. (NYSE:VSCO) last issued 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. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. As a group, equities research analysts forecast that Victoria’s Secret & Co. will post 2.37 EPS for the current year.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VSCO. Aigen Investment Management LP purchased a new stake in Victoria’s Secret & Co. in the 3rd quarter worth $332,000. Oppenheimer Asset Management Inc. purchased a new stake in Victoria’s Secret & Co. in the 3rd quarter worth $360,000. Intech Investment Management LLC purchased a new stake in Victoria’s Secret & Co. in the 3rd quarter worth $382,000. Charles Schwab Investment Management Inc. increased its holdings in Victoria’s Secret & Co. by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,608,466 shares of the company’s stock worth $41,338,000 after acquiring an additional 76,858 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Victoria’s Secret & Co. in the 3rd quarter worth $794,000. Hedge funds and other institutional investors own 90.29% of the company’s stock.

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.