Victoria’s Secret & Co. (NYSE:VSCO) Shares Up 4% After Analyst Upgrade

Shares of Victoria’s Secret & Co. (NYSE:VSCO) shot up 4% during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $30.00 to $33.00. Wells Fargo & Company currently has an overweight rating on the stock. Victoria’s Secret & Co. traded as high as $28.73 and last traded at $28.58. 815,985 shares were traded during trading, a decline of 71% from the average session volume of 2,798,643 shares. The stock had previously closed at $27.48.

VSCO has been the topic of several other reports. The Goldman Sachs Group increased their price target on Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Friday, August 30th. Bank of America increased their price target on Victoria’s Secret & Co. from $18.00 to $21.00 and gave the stock an “underperform” rating in a report on Friday, August 30th. Barclays upgraded Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $23.00 to $25.00 in a report on Wednesday, September 18th. Telsey Advisory Group reiterated a “market perform” rating and issued a $27.00 price target on shares of Victoria’s Secret & Co. in a report on Thursday, October 17th. Finally, Morgan Stanley increased their price target on Victoria’s Secret & Co. from $20.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VSCO. PNC Financial Services Group Inc. increased its holdings in shares of Victoria’s Secret & Co. by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,203 shares of the company’s stock valued at $297,000 after acquiring an additional 628 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Victoria’s Secret & Co. in the 4th quarter valued at $372,000. Texas Permanent School Fund Corp increased its holdings in shares of Victoria’s Secret & Co. by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 67,770 shares of the company’s stock valued at $1,313,000 after acquiring an additional 1,205 shares during the period. Duality Advisers LP increased its holdings in shares of Victoria’s Secret & Co. by 53.9% in the 1st quarter. Duality Advisers LP now owns 107,763 shares of the company’s stock valued at $2,088,000 after acquiring an additional 37,733 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Victoria’s Secret & Co. by 47.2% in the 1st quarter. SG Americas Securities LLC now owns 14,077 shares of the company’s stock valued at $273,000 after acquiring an additional 4,514 shares during the period. Institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Price Performance

The stock has a fifty day moving average price of $24.57 and a 200-day moving average price of $20.78. The firm has a market capitalization of $2.30 billion, a PE ratio of 22.59 and a beta of 2.14. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.31 and a current ratio of 1.00.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Victoria’s Secret & Co. had a return on equity of 44.06% and a net margin of 2.25%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. Sell-side analysts forecast that Victoria’s Secret & Co. will post 1.98 EPS for the current fiscal year.

About Victoria’s Secret & Co.

Victoria's Secret & Co operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. It offers bras, panties, lingerie, casual sleepwear, and athleisure and swim, as well as fragrances and body care; and loungewear, knit tops, activewear, and accessories and beauty under the Victoria's Secret, PINK, and Adore Me brands.