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

Victoria’s Secret & Co. (NYSE:VSCO)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $22.54, but opened at $22.06. Victoria’s Secret & Co. shares last traded at $21.02, with a volume of 602,855 shares.

Wall Street Analysts Forecast Growth

VSCO has been the topic of a number of research analyst reports. Jefferies Financial Group dropped their price objective on shares of Victoria’s Secret & Co. from $42.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Wells Fargo & Company reiterated an “underweight” rating and set a $15.00 price target (up previously from $12.00) on shares of Victoria’s Secret & Co. in a research note on Wednesday, May 14th. Barclays reduced their price objective on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Cowen reaffirmed a “hold” rating on shares of Victoria’s Secret & Co. in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Victoria’s Secret & Co. from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.18.

Victoria’s Secret & Co. Stock Down 1.6%

The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12. The stock has a market cap of $1.62 billion, a PE ratio of 10.70, a P/E/G ratio of 1.15 and a beta of 2.25. The business has a 50 day moving average price of $19.32 and a 200 day moving average price of $29.43.

Victoria’s Secret & Co. (NYSE:VSCO) last announced 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. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Equities research analysts expect that Victoria’s Secret & Co. will post 2.37 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc bought 85,145 shares of the stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average cost of $19.47 per share, with a total value of $1,657,773.15. Following the purchase, the insider now directly owns 9,389,805 shares in the company, valued at $182,819,503.35. The trade was a 0.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 1,503,973 shares of company stock valued at $26,617,312 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

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

Several institutional investors and hedge funds have recently modified their holdings of VSCO. Picton Mahoney Asset Management boosted its position in Victoria’s Secret & Co. by 6.5% during the fourth quarter. Picton Mahoney Asset Management now owns 7,782 shares of the company’s stock worth $322,000 after purchasing an additional 477 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Victoria’s Secret & Co. by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,211 shares of the company’s stock worth $340,000 after buying an additional 522 shares during the period. Mariner LLC lifted its position in shares of Victoria’s Secret & Co. by 3.0% during the 4th quarter. Mariner LLC now owns 19,307 shares of the company’s stock valued at $800,000 after buying an additional 569 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Victoria’s Secret & Co. by 47.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company’s stock valued at $104,000 after buying an additional 800 shares in the last quarter. Finally, CWM LLC grew its stake in Victoria’s Secret & Co. by 6.2% in the 1st quarter. CWM LLC now owns 16,660 shares of the company’s stock valued at $310,000 after acquiring an additional 975 shares during the period. Hedge funds and other institutional investors own 90.29% of the company’s stock.

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.