Victoria’s Secret & Co. (NYSE:VSCO) Shares Gap Down – Here’s What Happened

Shares of Victoria’s Secret & Co. (NYSE:VSCO) gapped down prior to trading on Friday . The stock had previously closed at $21.75, but opened at $20.90. Victoria’s Secret & Co. shares last traded at $21.04, with a volume of 478,409 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Cowen reaffirmed a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. Morgan Stanley reduced their target price on shares of 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. JPMorgan Chase & Co. reduced their target price on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Bank of America reduced their target price on shares of Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th. Finally, TD Cowen increased their target price on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, December 9th. 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 company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.73.

Victoria’s Secret & Co. Stock Performance

The company’s fifty day moving average is $29.91 and its 200 day moving average is $32.12. The company has a market capitalization of $1.68 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.15 and a beta of 2.16. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12.

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, 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 business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. As a group, equities analysts anticipate 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 80,328 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,347,903.84. Following the purchase, the insider now directly owns 9,255,347 shares of the company’s stock, valued at $155,304,722.66. This trade represents a 0.88 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Victoria’s Secret & Co.

Several institutional investors and hedge funds have recently made changes to their positions in VSCO. Virtus Fund Advisers LLC purchased a new stake in shares of Victoria’s Secret & Co. during the 3rd quarter valued at $27,000. CoreCap Advisors LLC raised its position in shares of Victoria’s Secret & Co. by 1,898.1% during the 4th quarter. CoreCap Advisors LLC now owns 2,058 shares of the company’s stock valued at $85,000 after buying an additional 1,955 shares in the last quarter. Smartleaf Asset Management LLC raised 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 valued at $92,000 after buying an additional 1,682 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Victoria’s Secret & Co. by 47.1% during 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 in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Victoria’s Secret & Co. during the 4th quarter valued at $112,000. Hedge funds and other institutional investors own 90.29% of the company’s stock.

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.