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

Victoria’s Secret & Co. (NYSE:VSCO)’s share price gapped down before the market opened 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 changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. 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 on the stock in a report on Thursday, January 30th. UBS Group reduced their target price on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. BMO Capital Markets reduced their target price on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. 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 on the stock in a report on Friday, March 7th. 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 report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Victoria’s Secret & Co. currently has a consensus rating of “Hold” and an average price target of $31.73.

Victoria’s Secret & Co. Price Performance

The business’s 50 day moving average price is $29.91 and its two-hundred day moving average price is $32.12. The stock has a market cap of $1.68 billion, a P/E ratio of 11.10, a price-to-earnings-growth 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 issued 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 company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations 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, sell-side analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc acquired 80,328 shares of Victoria’s Secret & Co. stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $16.78 per share, with a total value of $1,347,903.84. Following the completion of the purchase, the insider now directly owns 9,255,347 shares in the company, valued at approximately $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 this hyperlink. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Victoria’s Secret & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Victoria’s Secret & Co. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,927,889 shares of the company’s stock worth $369,793,000 after purchasing an additional 58,981 shares in the last quarter. FMR LLC grew its stake in Victoria’s Secret & Co. by 44.7% during the fourth quarter. FMR LLC now owns 3,988,122 shares of the company’s stock valued at $165,188,000 after acquiring an additional 1,231,090 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Victoria’s Secret & Co. by 7.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,056,206 shares of the company’s stock valued at $85,168,000 after acquiring an additional 137,074 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Victoria’s Secret & Co. by 8.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,035,460 shares of the company’s stock valued at $84,309,000 after acquiring an additional 156,979 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Victoria’s Secret & Co. by 481.5% during the fourth quarter. Marshall Wace LLP now owns 1,956,760 shares of the company’s stock valued at $81,049,000 after acquiring an additional 1,620,256 shares in the last quarter. 90.29% of the stock is 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.