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

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

Analysts Set New Price Targets

VSCO has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. The Goldman Sachs Group dropped their price objective on Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating for the company in a report on Monday, March 10th. BMO Capital Markets reduced their target price on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. Telsey Advisory Group dropped their price target 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. Finally, Cowen reaffirmed a “hold” rating on shares of Victoria’s Secret & Co. in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.73.

Victoria’s Secret & Co. Stock Performance

The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17. The stock’s 50-day moving average is $28.31 and its 200 day moving average is $32.02. The firm has a market cap of $1.44 billion, a P/E ratio of 9.49, a PEG ratio of 1.15 and a beta of 2.16.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.30. The firm 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%. On average, research analysts predict that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder International Pte Ltd Bbrc bought 542,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $17.32 per share, for a total transaction of $9,387,440.00. Following the acquisition, the insider now owns 8,695,019 shares in the company, valued at approximately $150,597,729.08. This trade represents a 6.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Victoria’s Secret & Co.

A number of institutional investors have recently modified their holdings of VSCO. Virtus Fund Advisers LLC acquired a new stake in Victoria’s Secret & Co. in the 3rd quarter valued at approximately $27,000. CoreCap Advisors LLC grew its holdings in shares of 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 valued at $85,000 after acquiring an additional 1,955 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of 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 during the last quarter. Canada Pension Plan Investment Board boosted its holdings 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 buying an additional 800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Victoria’s Secret & Co. in the fourth quarter valued at $112,000. 90.29% of the stock is currently 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.