Victoria’s Secret & Co. (NYSE:VSXY) Stock Gets Downgrade from Bank of America

Victoria’s Secret & Co. (NYSE:VSXY) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, FinViz reports. They currently have a $112.00 target price on the stock, up from their prior target price of $95.00. Bank of America‘s price objective points to a potential upside of 2.08% from the stock’s previous close.

Several other analysts also recently issued reports on VSXY. Barclays upped their price target on shares of Victoria’s Secret & Co. from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, October 20th. Wells Fargo & Company lifted their price objective on Victoria’s Secret & Co. from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. JPMorgan Chase & Co. lifted their price objective on Victoria’s Secret & Co. from $88.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. BMO Capital Markets assumed coverage on Victoria’s Secret & Co. in a research note on Tuesday, September 8th. They issued a “market perform” rating and a $80.00 target price on the stock. Finally, Wall Street Zen upgraded Victoria’s Secret & Co. from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.33.

Victoria’s Secret & Co. Trading Down 0.9%

NYSE:VSXY opened at $109.72 on Thursday. The company has a market capitalization of $8.75 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 0.74 and a beta of 2.11. The company has a quick ratio of 0.57, a current ratio of 1.36 and a debt-to-equity ratio of 0.92. Victoria’s Secret & Co. has a 52-week low of $33.61 and a 52-week high of $116.32. The stock has a fifty day simple moving average of $88.65 and a 200-day simple moving average of $71.51.

Victoria’s Secret & Co. (NYSE:VSXY) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.18. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Victoria’s Secret & Co. had a net margin of 5.46% and a return on equity of 40.43%. Victoria’s Secret & Co.’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts expect that Victoria’s Secret & Co. will post 4.75 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Melinda McAfee sold 7,000 shares of Victoria’s Secret & Co. stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $98.90, for a total value of $692,300.00. Following the completion of the sale, the insider owned 156,817 shares of the company’s stock, valued at $15,509,201.30. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,000 shares of company stock worth $1,339,750 in the last 90 days. 0.52% of the stock is owned by company insiders.

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

Institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC lifted its position in Victoria’s Secret & Co. by 126.7% during the third quarter. Fortitude Family Office LLC now owns 306 shares of the company’s stock worth $27,000 after buying an additional 171 shares during the period. Parallel Advisors LLC boosted its stake in Victoria’s Secret & Co. by 666.7% in the 1st quarter. Parallel Advisors LLC now owns 621 shares of the company’s stock worth $29,000 after buying an additional 540 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in Victoria’s Secret & Co. in the 3rd quarter valued at about $31,000. Integrated Wealth Concepts LLC purchased a new stake in Victoria’s Secret & Co. in the 2nd quarter valued at about $49,000. Finally, Signaturefd LLC grew its holdings in Victoria’s Secret & Co. by 83.4% in the 3rd quarter. Signaturefd LLC now owns 552 shares of the company’s stock valued at $49,000 after buying an additional 251 shares during the period. 90.29% of the stock is currently owned by institutional investors and hedge funds.

Victoria’s Secret & Co. Company Profile

Victoria’s Secret & Co. is a specialty retailer focused on intimate apparel, beauty products and related merchandise. Its offerings include bras, lingerie, panties, sleepwear, apparel, fragrances and body care products. The company operates under the Victoria’s Secret and PINK brands and also owns Adore Me, an intimate-apparel brand with a digital-first business. It serves customers through stores and e-commerce, primarily in North America, as well as through international operations and partners.