Wells Fargo & Company Issues Pessimistic Forecast for Victoria’s Secret & Co. (NYSE:VSCO) Stock Price

Victoria’s Secret & Co. (NYSE:VSCO) had its price target lowered by Wells Fargo & Company from $45.00 to $40.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.43% from the company’s current price.

Several other research analysts have also commented on VSCO. The Goldman Sachs Group dropped their price objective on shares of Victoria’s Secret & Co. from $40.00 to $35.00 and set a “sell” rating for the company in a research note on Thursday. Telsey Advisory Group lowered their target price on shares of Victoria’s Secret & Co. from $50.00 to $40.00 and set a “market perform” rating for the company in a research note on Thursday. TD Cowen boosted their target price on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. raised shares of Victoria’s Secret & Co. from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $29.00 to $45.00 in a research note on Monday, December 9th. Finally, UBS Group raised shares of Victoria’s Secret & Co. from a “sell” rating to a “neutral” rating and boosted their target price for the company from $18.00 to $47.00 in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.36.

Victoria’s Secret & Co. Trading Down 1.5 %

Victoria’s Secret & Co. stock opened at $36.22 on Thursday. The stock has a market cap of $2.85 billion, a P/E ratio of 18.77, a PEG ratio of 2.11 and a beta of 2.14. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.17 and a quick ratio of 0.33. Victoria’s Secret & Co. has a 1 year low of $15.12 and a 1 year high of $48.73. The firm’s 50 day moving average price is $40.65 and its 200-day moving average price is $30.67.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly 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 company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. Victoria’s Secret & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.86) earnings per share. On average, equities analysts predict that Victoria’s Secret & Co. will post 2.34 earnings per share for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC bought a new position in Victoria’s Secret & Co. in the third quarter worth about $27,000. Blue Trust Inc. raised its holdings in Victoria’s Secret & Co. by 741.4% in the third quarter. Blue Trust Inc. now owns 1,708 shares of the company’s stock worth $44,000 after purchasing an additional 1,505 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Victoria’s Secret & Co. during the second quarter valued at about $50,000. Quarry LP increased its holdings in shares of Victoria’s Secret & Co. by 126.6% during the second quarter. Quarry LP now owns 3,157 shares of the company’s stock valued at $56,000 after acquiring an additional 1,764 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Victoria’s Secret & Co. by 109.5% during the third quarter. GAMMA Investing LLC now owns 3,160 shares of the company’s stock valued at $81,000 after acquiring an additional 1,652 shares in the last quarter. 90.29% of the stock is currently 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.