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

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on VSCO. UBS Group reduced their target price on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. lowered their target price on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Barclays reduced their price target on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, BMO Capital Markets lowered their price objective on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Victoria’s Secret & Co. presently has a consensus rating of “Hold” and a consensus price target of $31.73.

Victoria’s Secret & Co. Price Performance

The stock’s 50-day moving average is $28.99 and its 200-day moving average is $32.19. The firm has a market cap of $1.54 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.15 and a beta of 2.16. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. As a group, equities analysts anticipate that Victoria’s Secret & Co. will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc bought 80,328 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $16.78 per share, with a total value of $1,347,903.84. Following the completion of the purchase, the insider now directly owns 9,255,347 shares in the company, valued at $155,304,722.66. The trade was a 0.88 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Several large investors have recently modified their holdings of VSCO. Charles Schwab Investment Management Inc. lifted its position in shares of Victoria’s Secret & Co. by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,631,150 shares of the company’s stock worth $67,562,000 after buying an additional 22,684 shares during the period. Wakefield Asset Management LLLP acquired a new stake in shares of Victoria’s Secret & Co. in the 4th quarter valued at $991,000. Raymond James Financial Inc. bought a new stake in shares of Victoria’s Secret & Co. in the 4th quarter worth about $7,373,000. Forest Avenue Capital Management LP acquired a new stake in shares of Victoria’s Secret & Co. during the 3rd quarter worth about $40,861,000. Finally, FengHe Fund Management Pte. Ltd. bought a new stake in Victoria’s Secret & Co. during the fourth quarter worth about $2,435,000. 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.