Victoria’s Secret & Co. (NYSE:VSCO) Trading 4% Higher Following Analyst Upgrade

Victoria’s Secret & Co. (NYSE:VSCO) traded 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.

Several other equities research analysts have also issued reports on VSCO. Barclays raised Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $23.00 to $25.00 in a research note on Wednesday, September 18th. Bank of America boosted their target price on Victoria’s Secret & Co. from $18.00 to $21.00 and gave the stock an “underperform” rating in a research report on Friday, August 30th. Telsey Advisory Group reiterated a “market perform” rating and set a $27.00 price target on shares of Victoria’s Secret & Co. in a research report on Thursday, October 17th. Morgan Stanley lifted their price target on shares of Victoria’s Secret & Co. from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Finally, BMO Capital Markets upped their price objective on shares of Victoria’s Secret & Co. from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.30.

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

A number of hedge funds have recently modified their holdings of VSCO. PNC Financial Services Group Inc. raised its holdings in shares of Victoria’s Secret & Co. by 5.9% during the fourth 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 in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Victoria’s Secret & Co. by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,538 shares of the company’s stock worth $663,000 after purchasing an additional 715 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Victoria’s Secret & Co. by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 39,400 shares of the company’s stock worth $696,000 after purchasing an additional 1,000 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of Victoria’s Secret & Co. by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 67,770 shares of the company’s stock valued at $1,313,000 after purchasing an additional 1,205 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Victoria’s Secret & Co. by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,615 shares of the company’s stock valued at $294,000 after buying an additional 1,280 shares during the period. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Trading Up 3.9 %

The company has a market capitalization of $2.24 billion, a P/E ratio of 16.60 and a beta of 2.14. The stock’s 50 day moving average is $24.57 and its 200-day moving average is $20.78. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.00 and a quick ratio of 0.31.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its earnings results on Wednesday, August 28th. The company reported $0.40 earnings per share for the quarter, topping 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. As a group, equities research analysts anticipate that Victoria’s Secret & Co. will post 1.98 earnings per share for the current 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.