Bank of America Cuts Victoria’s Secret & Co. (NYSE:VSCO) Price Target to $18.00

Victoria’s Secret & Co. (NYSE:VSCO) had its price objective decreased by Bank of America from $20.00 to $18.00 in a research report released on Thursday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.

Several other equities research analysts have also recently issued reports on VSCO. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 target price on shares of Victoria’s Secret & Co. in a research report on Wednesday. UBS Group set a $24.00 price target on shares of Victoria’s Secret & Co. and gave the stock a “neutral” rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Victoria’s Secret & Co. from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. BMO Capital Markets dropped their price objective on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $15.00 target price (up previously from $12.00) on shares of Victoria’s Secret & Co. in a report on Wednesday, May 14th. Three equities 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.64.

Victoria’s Secret & Co. Price Performance

Shares of NYSE:VSCO opened at $18.18 on Thursday. The company has a market cap of $1.43 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.15 and a beta of 2.26. The business has a fifty day simple moving average of $19.92 and a 200-day simple moving average of $28.19. Victoria’s Secret & Co. has a 52 week low of $13.76 and a 52 week high of $48.73. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its quarterly earnings results on Wednesday, June 11th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. Equities research analysts forecast that Victoria’s Secret & Co. will post 2.37 EPS for the current year.

Insider Activity at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc bought 85,145 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of $19.47 per share, with a total value of $1,657,773.15. Following the completion of the transaction, the insider now directly owns 9,389,805 shares of the company’s stock, valued at approximately $182,819,503.35. This represents a 0.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have acquired 881,645 shares of company stock worth $15,881,968. 0.45% of the stock is currently owned by corporate insiders.

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

Hedge funds have recently modified their holdings of the stock. Strs Ohio purchased a new position in Victoria’s Secret & Co. in the 1st quarter worth approximately $674,000. Intech Investment Management LLC lifted its position in shares of Victoria’s Secret & Co. by 642.8% during the first quarter. Intech Investment Management LLC now owns 175,722 shares of the company’s stock worth $3,265,000 after purchasing an additional 152,065 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of Victoria’s Secret & Co. in the first quarter valued at $813,000. Jones Financial Companies Lllp grew its holdings in Victoria’s Secret & Co. by 606,904.8% during the 1st quarter. Jones Financial Companies Lllp now owns 382,413 shares of the company’s stock valued at $7,105,000 after purchasing an additional 382,350 shares in the last quarter. Finally, Scientech Research LLC grew its holdings in Victoria’s Secret & Co. by 188.0% during the 1st quarter. Scientech Research LLC now owns 36,671 shares of the company’s stock valued at $681,000 after purchasing an additional 23,940 shares in the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

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.