Victoria’s Secret & Co. (NYSE:VSCO) Given New $19.00 Price Target at Morgan Stanley

Victoria’s Secret & Co. (NYSE:VSCO) had its price target lowered by Morgan Stanley from $23.00 to $19.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 1.25% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Victoria’s Secret & Co. from $19.00 to $15.00 and set a “sell” rating for the company in a research report on Tuesday, April 22nd. Cowen reaffirmed a “hold” rating on shares of Victoria’s Secret & Co. in a report on Friday, March 7th. UBS Group dropped their price objective on 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 decreased their target price on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Telsey Advisory Group lowered their price target on 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. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.18.

Victoria’s Secret & Co. Stock Down 0.1 %

VSCO stock traded down $0.02 during mid-day trading on Tuesday, reaching $19.24. The company had a trading volume of 958,128 shares, compared to its average volume of 2,949,042. The firm has a fifty day simple moving average of $18.99 and a 200 day simple moving average of $30.58. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 1.15 and a beta of 2.25. Victoria’s Secret & Co. has a fifty-two week low of $13.76 and a fifty-two week high of $48.73.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share 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 for the quarter, compared to analysts’ expectations of $2.10 billion. Analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Insider Activity at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc acquired 80,328 shares of Victoria’s Secret & Co. stock in a transaction on 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 purchase, the insider now directly owns 9,255,347 shares in the company, valued at approximately $155,304,722.66. The trade was a 0.88 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 1,503,973 shares of company stock worth $26,617,312 in the last 90 days. 1.10% of the stock is owned by insiders.

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

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Victoria’s Secret & Co. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,927,889 shares of the company’s stock valued at $369,793,000 after buying an additional 58,981 shares during the period. FMR LLC increased its stake in shares of Victoria’s Secret & Co. by 44.7% during the fourth quarter. FMR LLC now owns 3,988,122 shares of the company’s stock worth $165,188,000 after acquiring an additional 1,231,090 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of 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 worth $85,168,000 after acquiring an additional 137,074 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Victoria’s Secret & Co. by 8.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,035,460 shares of the company’s stock valued at $84,309,000 after buying an additional 156,979 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Victoria’s Secret & Co. by 481.5% in 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 during the period. 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.