Victoria’s Secret & Co. (NYSE:VSCO) Price Target Cut to $40.00 by Analysts at Morgan Stanley

Victoria’s Secret & Co. (NYSE:VSCO) had its price target cut by Morgan Stanley from $44.00 to $40.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

VSCO has been the subject of several other reports. TD Cowen boosted their price objective on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $45.00 price target (up from $33.00) on shares of Victoria’s Secret & Co. in a report on Monday, December 9th. Telsey Advisory Group restated a “market perform” rating and set a $40.00 price objective on shares of Victoria’s Secret & Co. in a research note on Friday, December 6th. UBS Group upgraded Victoria’s Secret & Co. from a “sell” rating to a “neutral” rating and increased their target price for the company from $18.00 to $47.00 in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group boosted their price target on Victoria’s Secret & Co. from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Victoria’s Secret & Co. currently has a consensus rating of “Hold” and an average price target of $37.55.

Victoria’s Secret & Co. Price Performance

Victoria’s Secret & Co. stock opened at $38.73 on Tuesday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.19 and a beta of 2.14. Victoria’s Secret & Co. has a 12-month low of $15.12 and a 12-month high of $48.73. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.17 and a quick ratio of 0.33. The firm’s 50-day moving average is $40.46 and its two-hundred day moving average is $29.78.

Victoria’s Secret & Co. (NYSE:VSCO) last released its earnings results on Thursday, December 5th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.12. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.86) earnings per share. Equities analysts predict that Victoria’s Secret & Co. will post 2.31 earnings per share for the current year.

Institutional Trading of Victoria’s Secret & Co.

Hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Victoria’s Secret & Co. by 146.1% during the third quarter. FMR LLC now owns 2,757,032 shares of the company’s stock valued at $70,856,000 after purchasing an additional 1,636,602 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Victoria’s Secret & Co. by 102.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,708,766 shares of the company’s stock worth $47,864,000 after acquiring an additional 1,368,103 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Victoria’s Secret & Co. by 1.4% in the third quarter. Geode Capital Management LLC now owns 1,794,221 shares of the company’s stock valued at $46,121,000 after acquiring an additional 24,967 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Victoria’s Secret & Co. by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,608,466 shares of the company’s stock valued at $41,338,000 after acquiring an additional 76,858 shares during the period. Finally, Forest Avenue Capital Management LP bought a new stake in Victoria’s Secret & Co. during the third quarter worth approximately $40,861,000. 90.29% of the stock is currently owned by institutional investors.

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.