JPMorgan Chase & Co. Cuts Victoria’s Secret & Co. (NYSE:VSCO) Price Target to $17.00

Victoria’s Secret & Co. (NYSE:VSCO) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $35.00 to $17.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 3.28% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Wells Fargo & Company dropped their price objective 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 note on Thursday, March 6th. UBS Group decreased their price objective on shares of 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 price objective on 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. The Goldman Sachs Group dropped their price target on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Finally, Morgan Stanley dropped their price target on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. 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’s stock. According to MarketBeat, Victoria’s Secret & Co. presently has a consensus rating of “Hold” and a consensus target price of $30.09.

Victoria’s Secret & Co. Stock Performance

VSCO traded down $0.63 on Monday, reaching $16.46. The company had a trading volume of 2,857,627 shares, compared to its average volume of 2,914,365. The stock has a market capitalization of $1.29 billion, a PE ratio of 8.53, a P/E/G ratio of 1.15 and a beta of 2.26. Victoria’s Secret & Co. has a 1 year low of $13.76 and a 1 year high of $48.73. The stock has a 50-day moving average price of $23.32 and a 200-day moving average price of $31.47. 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 announced its quarterly earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.30. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. As a group, research analysts forecast that Victoria’s Secret & Co. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc bought 542,000 shares of Victoria’s Secret & Co. stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $17.32 per share, with a total value of $9,387,440.00. Following the acquisition, the insider now directly owns 8,695,019 shares of the company’s stock, valued at $150,597,729.08. The trade was a 6.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have purchased 1,503,973 shares of company stock worth $26,617,312. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of Victoria’s Secret & Co. during the third quarter worth $412,000. Geode Capital Management LLC lifted its holdings in Victoria’s Secret & Co. by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,794,221 shares of the company’s stock worth $46,121,000 after buying an additional 24,967 shares during the period. Sanctuary Advisors LLC increased its position in shares of Victoria’s Secret & Co. by 3.3% during the third quarter. Sanctuary Advisors LLC now owns 51,139 shares of the company’s stock valued at $1,314,000 after buying an additional 1,617 shares during the period. Castellan Group bought a new stake in shares of Victoria’s Secret & Co. during the 3rd quarter valued at $6,218,000. Finally, GAMMA Investing LLC increased its position in Victoria’s Secret & Co. by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 3,486 shares of the company’s stock valued at $144,000 after buying an additional 326 shares in the last quarter. 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.