Victoria’s Secret & Co. (NYSE:VSCO) Trading Up 6.5% Following Insider Buying Activity

Victoria’s Secret & Co. (NYSE:VSCO)’s share price was up 6.5% on Wednesday following insider buying activity. The stock traded as high as $17.28 and last traded at $17.30. Approximately 3,277,173 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 2,850,160 shares. The stock had previously closed at $16.25.

Specifically, major shareholder International Pte Ltd Bbrc acquired 542,000 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $17.32 per share, for a total transaction of $9,387,440.00. Following the completion of the transaction, the insider now directly owns 8,695,019 shares of the company’s stock, valued at $150,597,729.08. This trade represents a 6.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

Several equities analysts have commented on VSCO shares. TD Cowen increased their price objective 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. UBS Group lowered 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 report on Thursday, February 27th. 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 for the company in a report on Thursday, March 6th. Bank of America lowered 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 report on Thursday, January 30th. Finally, Telsey Advisory Group lowered their target price on shares of Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.73.

Victoria’s Secret & Co. Stock Up 5.1 %

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 firm has a market cap of $1.46 billion, a PE ratio of 9.61, a P/E/G ratio of 1.15 and a beta of 2.16. The business’s 50-day simple moving average is $31.81 and its 200 day simple moving average is $32.25.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.30. The business had revenue of $2.11 billion for 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, equities research analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Victoria’s Secret & Co. in the 4th quarter worth approximately $112,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Victoria’s Secret & Co. by 33.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 155,355 shares of the company’s stock worth $6,435,000 after buying an additional 38,820 shares during the last quarter. Tremblant Capital Group grew its position in shares of Victoria’s Secret & Co. by 137.1% in the 4th quarter. Tremblant Capital Group now owns 550,135 shares of the company’s stock worth $22,787,000 after buying an additional 318,080 shares during the last quarter. State of Wyoming grew its position in shares of Victoria’s Secret & Co. by 173.2% in the 4th quarter. State of Wyoming now owns 6,245 shares of the company’s stock worth $259,000 after buying an additional 3,959 shares during the last quarter. Finally, Shellback Capital LP purchased a new position in shares of Victoria’s Secret & Co. in the 4th quarter worth approximately $3,728,000. Hedge funds and other 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.