Victoria’s Secret & Co. (NYSE:VSCO) Shares Down 12.5% – What’s Next?

Victoria’s Secret & Co. (NYSE:VSCO)’s share price dropped 12.5% during mid-day trading on Thursday . The stock traded as low as $17.45 and last traded at $17.49. Approximately 3,904,508 shares traded hands during trading, an increase of 35% from the average daily volume of 2,899,617 shares. The stock had previously closed at $19.98.

Wall Street Analyst Weigh In

VSCO has been the topic of a number of analyst reports. UBS Group cut their price target on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Cowen reaffirmed a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. Barclays decreased their target price on shares of 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. Morgan Stanley reduced their price target on 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. Finally, BMO Capital Markets cut their price objective on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.73.

Victoria’s Secret & Co. Stock Performance

The company’s fifty day simple moving average is $24.00 and its 200 day simple moving average is $31.56. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 1.15 and a beta of 2.26.

Victoria’s Secret & Co. (NYSE:VSCO) last released its quarterly earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.30. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. On average, equities research analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc purchased 80,328 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $16.78 per share, with a total value of $1,347,903.84. Following the acquisition, the insider now owns 9,255,347 shares in the company, valued at approximately $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 this hyperlink. Over the last ninety days, insiders acquired 1,503,973 shares of company stock worth $26,617,312. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Victoria’s Secret & Co.

Several hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. boosted its position in Victoria’s Secret & Co. by 141,000.0% in the first quarter. NBC Securities Inc. now owns 2,822 shares of the company’s stock valued at $52,000 after buying an additional 2,820 shares in the last quarter. CoreCap Advisors LLC grew its holdings in 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 worth $85,000 after acquiring an additional 1,955 shares during the period. Smartleaf Asset Management LLC increased its holdings in Victoria’s Secret & Co. by 326.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company’s stock worth $92,000 after purchasing an additional 1,682 shares in the last quarter. Canada Pension Plan Investment Board lifted 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 acquiring an additional 800 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Victoria’s Secret & Co. during the fourth quarter valued at about $112,000. Institutional investors own 90.29% of the company’s stock.

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.