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

Victoria’s Secret & Co. (NYSE:VSCO) shares 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.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VSCO. Wells Fargo & Company cut their price objective on shares of Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 6th. Morgan Stanley cut their price objective on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. UBS Group cut their price objective 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. Barclays cut their price objective on shares of Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, The Goldman Sachs Group cut their price objective on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating on the stock in a research report on Monday, March 10th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.73.

Victoria’s Secret & Co. Stock Performance

The company’s fifty day moving average is $29.57 and its 200 day moving average is $32.17. The company has a market capitalization of $1.65 billion, a P/E ratio of 10.89, a P/E/G 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 announced its quarterly earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.30 by $0.30. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. As a group, equities analysts anticipate that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Insider Transactions at Victoria’s Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc acquired 542,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were purchased 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 owns 8,695,019 shares of the company’s stock, valued at $150,597,729.08. The trade was a 6.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

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

Institutional investors have recently bought and sold shares of the stock. Virtus Fund Advisers LLC bought a new position in Victoria’s Secret & Co. in the third quarter worth about $27,000. CoreCap Advisors LLC raised its stake in Victoria’s Secret & Co. by 1,898.1% in the fourth quarter. CoreCap Advisors LLC now owns 2,058 shares of the company’s stock worth $85,000 after buying an additional 1,955 shares in the last quarter. Smartleaf Asset Management LLC raised its stake 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 buying an additional 1,682 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Victoria’s Secret & Co. by 47.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company’s stock worth $104,000 after buying an additional 800 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Victoria’s Secret & Co. in the fourth quarter worth about $112,000. 90.29% of the stock is owned by institutional investors.

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.