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

Victoria’s Secret & Co. (NYSE:VSCO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $21.75, but opened at $20.90. Victoria’s Secret & Co. shares last traded at $21.04, with a volume of 478,409 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Bank of America reduced their price objective on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating for the company in a report on Thursday, January 30th. UBS Group reduced their price objective on Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Telsey Advisory Group reduced their price objective 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. Wells Fargo & Company reduced their price objective on Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Finally, The Goldman Sachs Group reduced their price objective on Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating for the company in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.73.

Victoria’s Secret & Co. Trading Down 3.4 %

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 firm has a market capitalization of $1.65 billion, a P/E ratio of 10.89, a PEG ratio of 1.15 and a beta of 2.16. The firm has a 50 day moving average of $29.57 and a 200-day moving average of $32.17.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 EPS 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 business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. On average, equities research analysts predict that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc purchased 80,328 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $16.78 per share, for a total transaction of $1,347,903.84. Following the completion of the acquisition, the insider now owns 9,255,347 shares of the company’s stock, valued at approximately $155,304,722.66. This represents a 0.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Victoria’s Secret & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Victoria’s Secret & Co. by 10.3% during the fourth quarter. GAMMA Investing LLC now owns 3,486 shares of the company’s stock valued at $144,000 after acquiring an additional 326 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Victoria’s Secret & Co. by 1.0% during the third quarter. The Manufacturers Life Insurance Company now owns 41,989 shares of the company’s stock valued at $1,079,000 after acquiring an additional 412 shares during the last quarter. 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 valued at $322,000 after acquiring an additional 477 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Victoria’s Secret & Co. by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,211 shares of the company’s stock valued at $340,000 after acquiring an additional 522 shares during the last quarter. Finally, Mariner LLC boosted its position in Victoria’s Secret & Co. by 3.0% during the fourth quarter. Mariner LLC now owns 19,307 shares of the company’s stock valued at $800,000 after acquiring an additional 569 shares during the last quarter. 90.29% of the stock is currently owned by institutional investors and hedge funds.

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.