Victoria’s Secret & Co. (NYSE:VSCO) Shares Down 4.5% – Here’s What Happened

Victoria’s Secret & Co. (NYSE:VSCO)’s stock price traded down 4.5% during mid-day trading on Monday . The company traded as low as $46.35 and last traded at $46.50. 392,245 shares were traded during trading, a decline of 85% from the average session volume of 2,700,008 shares. The stock had previously closed at $48.71.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VSCO. JPMorgan Chase & Co. upgraded Victoria’s Secret & Co. from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $29.00 to $45.00 in a research report on Monday, December 9th. Morgan Stanley raised their target price on shares of Victoria’s Secret & Co. from $23.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Bank of America lifted their target price on shares of Victoria’s Secret & Co. from $18.00 to $21.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. TD Cowen raised 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. Finally, The Goldman Sachs Group lifted their price target on Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.73.

Victoria’s Secret & Co. Stock Performance

The company has a quick ratio of 0.31, a current ratio of 1.17 and a debt-to-equity ratio of 3.12. The company has a market cap of $3.41 billion, a PE ratio of 22.46, a P/E/G ratio of 2.88 and a beta of 2.19. The business’s fifty day moving average is $35.77 and its 200-day moving average is $26.14.

Victoria’s Secret & Co. (NYSE:VSCO) last released its earnings results on Thursday, December 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.86) EPS. As a group, research analysts predict that Victoria’s Secret & Co. will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Victoria’s Secret & Co. by 1.0% during the third quarter. The Manufacturers Life Insurance Company now owns 41,989 shares of the company’s stock valued at $1,079,000 after acquiring an additional 412 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Victoria’s Secret & Co. by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 37,538 shares of the company’s stock valued at $663,000 after buying an additional 715 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Victoria’s Secret & Co. by 13.6% in the third quarter. Farther Finance Advisors LLC now owns 6,955 shares of the company’s stock worth $179,000 after buying an additional 835 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Victoria’s Secret & Co. by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 39,400 shares of the company’s stock worth $696,000 after buying an additional 1,000 shares during the period. Finally, Virtus Fund Advisers LLC bought a new stake in shares of Victoria’s Secret & Co. during the 3rd quarter worth approximately $27,000. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

About Victoria’s Secret & Co.

Victoria's Secret & Co operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. It offers bras, panties, lingerie, casual sleepwear, and athleisure and swim, as well as fragrances and body care; and loungewear, knit tops, activewear, and accessories and beauty under the Victoria's Secret, PINK, and Adore Me brands.