Victoria’s Secret & Co. (NYSE:VSCO) Shares Down 9.9% After Analyst Downgrade

Victoria’s Secret & Co. (NYSE:VSCO)’s stock price traded down 9.9% on Monday after Barclays lowered their price target on the stock from $53.00 to $38.00. Barclays currently has an overweight rating on the stock. Victoria’s Secret & Co. traded as low as $17.13 and last traded at $17.17. 1,566,651 shares were traded during trading, a decline of 39% from the average session volume of 2,555,637 shares. The stock had previously closed at $19.05.

Several other brokerages have also weighed in on VSCO. JPMorgan Chase & Co. cut their price objective on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday. UBS Group dropped their price objective on Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Bank of America reduced their target price on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating on the stock in a report on Thursday, January 30th. Wells Fargo & Company cut their price target on shares of Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Telsey Advisory Group decreased their price objective on shares of Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in Victoria’s Secret & Co. in the 4th quarter valued at $112,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Victoria’s Secret & Co. by 33.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 155,355 shares of the company’s stock valued at $6,435,000 after purchasing an additional 38,820 shares during the period. Tremblant Capital Group boosted its position in shares of Victoria’s Secret & Co. by 137.1% during the fourth quarter. Tremblant Capital Group now owns 550,135 shares of the company’s stock worth $22,787,000 after buying an additional 318,080 shares during the period. State of Wyoming grew its holdings in shares of Victoria’s Secret & Co. by 173.2% during the fourth quarter. State of Wyoming now owns 6,245 shares of the company’s stock worth $259,000 after buying an additional 3,959 shares in the last quarter. Finally, Shellback Capital LP bought a new stake in Victoria’s Secret & Co. in the 4th quarter valued at approximately $3,728,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

Victoria’s Secret & Co. Trading Down 9.3 %

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 8.96, a P/E/G ratio of 1.15 and a beta of 2.16. The business has a 50-day simple moving average of $33.75 and a two-hundred day simple moving average of $32.56. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.30. The company 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%. As a group, research analysts forecast that Victoria’s Secret & Co. will post 2.37 EPS for the current year.

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.