Victoria’s Secret & Co. (NYSE:VSCO) Shares Up 4.2% – Here’s Why

Shares of Victoria’s Secret & Co. (NYSE:VSCO) shot up 4.2% during trading on Thursday . The company traded as high as $22.60 and last traded at $22.59. 1,131,210 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 2,678,988 shares. The stock had previously closed at $21.68.

Analyst Ratings Changes

A number of equities analysts have issued reports on VSCO shares. The Goldman Sachs Group reduced their price target on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating for the company in a research report on Monday, March 10th. Cowen reissued a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. UBS Group reduced their price target on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. BMO Capital Markets reduced their price target on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Bank of America reduced their price target 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Victoria’s Secret & Co. presently has an average rating of “Hold” and an average price target of $31.73.

Victoria’s Secret & Co. Stock Up 2.4 %

The firm has a market cap of $1.75 billion, a PE ratio of 11.51, a PEG ratio of 1.15 and a beta of 2.16. The business’s 50 day moving average price is $30.24 and its 200 day moving average price is $32.20. 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 released its earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.30. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. On average, equities research analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Insider Activity at Victoria’s Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc acquired 80,328 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $16.78 per share, with a total value of $1,347,903.84. Following the completion of the acquisition, the insider now owns 9,255,347 shares of the company’s stock, valued at $155,304,722.66. This trade represents a 0.88 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.

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

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

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.