Victoria’s Secret & Co. (NYSE:VSCO) Downgraded by Morgan Stanley

Morgan Stanley cut shares of Victoria’s Secret & Co. (NYSE:VSCO) from an equal weight rating to an underweight rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has $15.00 price target on the stock, down from their prior price target of $19.00.

A number of other research firms have also recently weighed in on VSCO. Wells Fargo & Company lowered their price target on Victoria’s Secret & Co. from $32.00 to $25.00 and set an overweight rating for the company in a report on Thursday, March 7th. JPMorgan Chase & Co. reiterated an underweight rating and set a $15.00 price target (down from $22.00) on shares of Victoria’s Secret & Co. in a report on Thursday, March 7th. The Goldman Sachs Group started coverage on Victoria’s Secret & Co. in a report on Thursday, April 25th. They set a sell rating and a $14.00 price target for the company. BMO Capital Markets lowered their price target on Victoria’s Secret & Co. from $29.00 to $26.00 and set an outperform rating for the company in a report on Thursday, March 7th. Finally, Telsey Advisory Group lowered their price target on Victoria’s Secret & Co. from $29.00 to $20.00 and set a market perform rating for the company in a report on Thursday, March 7th. Six analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $19.82.

Victoria’s Secret & Co. Stock Up 0.6 %

Shares of NYSE:VSCO opened at $18.03 on Monday. The company has a quick ratio of 0.34, a current ratio of 0.95 and a debt-to-equity ratio of 2.56. The business has a fifty day moving average of $19.33 and a two-hundred day moving average of $22.68. The stock has a market cap of $1.40 billion, a P/E ratio of 13.26, a PEG ratio of 1.11 and a beta of 2.05. Victoria’s Secret & Co. has a 52-week low of $13.62 and a 52-week high of $30.80.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its earnings results on Wednesday, March 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.12. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Victoria’s Secret & Co. had a return on equity of 56.40% and a net margin of 1.77%. On average, research analysts expect that Victoria’s Secret & Co. will post 1.67 earnings per share for the current year.

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

Several hedge funds have recently bought and sold shares of VSCO. Kettle Hill Capital Management LLC acquired a new position in Victoria’s Secret & Co. during the 3rd quarter worth about $18,645,000. Norges Bank acquired a new stake in Victoria’s Secret & Co. in the 4th quarter valued at about $8,986,000. UBS Group AG raised its position in Victoria’s Secret & Co. by 11.0% in the 3rd quarter. UBS Group AG now owns 3,323,016 shares of the company’s stock valued at $55,428,000 after purchasing an additional 328,860 shares in the last quarter. 12 West Capital Management LP acquired a new stake in Victoria’s Secret & Co. in the 1st quarter valued at about $5,330,000. Finally, Newport Trust Company LLC acquired a new stake in Victoria’s Secret & Co. in the 3rd quarter valued at about $3,344,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

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.