Victoria’s Secret & Co. (NYSE:VSCO) Short Interest Up 39.2% in March

Victoria’s Secret & Co. (NYSE:VSCO) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 9,550,000 shares, an increase of 39.2% from the February 28th total of 6,860,000 shares. Based on an average daily volume of 3,110,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 13.9% of the company’s stock are short sold.

Victoria’s Secret & Co. Stock Performance

Shares of NYSE:VSCO traded down $1.18 during midday trading on Friday, hitting $18.32. The stock had a trading volume of 3,930,272 shares, compared to its average volume of 2,778,491. Victoria’s Secret & Co. has a 1 year low of $15.12 and a 1 year high of $48.73. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12. The stock has a 50 day moving average price of $27.94 and a two-hundred day moving average price of $32.13. The company has a market capitalization of $1.44 billion, a PE ratio of 9.49, a P/E/G ratio of 1.15 and a beta of 2.16.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VSCO. TD Cowen boosted their target price on Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a report on Monday, December 9th. Wells Fargo & Company cut their target price on shares of Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. BMO Capital Markets decreased their price target on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Cowen reissued a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. Finally, 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 report on Friday, March 7th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.73.

Insider Buying and Selling

In related news, major shareholder International Pte Ltd Bbrc acquired 85,145 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was bought at an average price of $19.47 per share, for a total transaction of $1,657,773.15. Following the completion of the purchase, the insider now directly owns 9,389,805 shares of the company’s stock, valued at approximately $182,819,503.35. The trade was a 0.92 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 707,473 shares of company stock worth $12,393,117 over the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Trading of Victoria’s Secret & Co.

Institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in Victoria’s Secret & Co. by 146.1% in the third quarter. FMR LLC now owns 2,757,032 shares of the company’s stock valued at $70,856,000 after acquiring an additional 1,636,602 shares during the period. Marshall Wace LLP increased its holdings in shares of Victoria’s Secret & Co. by 481.5% in the 4th quarter. Marshall Wace LLP now owns 1,956,760 shares of the company’s stock valued at $81,049,000 after purchasing an additional 1,620,256 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Victoria’s Secret & Co. in the fourth quarter valued at about $37,693,000. SRS Investment Management LLC purchased a new stake in Victoria’s Secret & Co. during the fourth quarter worth about $37,011,000. Finally, Point72 Asset Management L.P. acquired a new position in Victoria’s Secret & Co. during the fourth quarter worth about $24,940,000. 90.29% of the stock is currently owned by hedge funds and other 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.