Victoria’s Secret & Co. (NYSE:VSCO) Stock Price Up 6.5% After Insider Buying Activity

Victoria’s Secret & Co. (NYSE:VSCO) was up 6.5% on Wednesday after an insider bought additional shares in the company. The company traded as high as $17.28 and last traded at $17.30. Approximately 3,277,173 shares traded hands during trading, an increase of 15% from the average daily volume of 2,850,160 shares. The stock had previously closed at $16.25.

Specifically, major shareholder International Pte Ltd Bbrc bought 542,000 shares of Victoria’s Secret & Co. stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $17.32 per share, with a total value of $9,387,440.00. Following the acquisition, the insider now owns 8,695,019 shares of the company’s stock, valued at approximately $150,597,729.08. This trade represents a 6.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

A number of research firms have commented on VSCO. JPMorgan Chase & Co. dropped their price objective on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. BMO Capital Markets dropped their price target on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. TD Cowen upped their price objective on 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. Wells Fargo & Company lowered their target price on Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 6th. Finally, Barclays cut their price target on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Victoria’s Secret & Co. has a consensus rating of “Hold” and an average price target of $31.73.

Victoria’s Secret & Co. Stock Up 5.1 %

The firm’s 50 day moving average is $31.81 and its 200-day moving average is $32.25. The firm has a market cap of $1.46 billion, a PE ratio of 9.61, a P/E/G ratio of 1.15 and a beta of 2.16. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.30. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. As a group, equities research analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Virtus Fund Advisers LLC acquired a new position in Victoria’s Secret & Co. during the third quarter worth approximately $27,000. CoreCap Advisors LLC increased its holdings in shares of Victoria’s Secret & Co. by 1,898.1% during the 4th quarter. CoreCap Advisors LLC now owns 2,058 shares of the company’s stock worth $85,000 after buying an additional 1,955 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Victoria’s Secret & Co. by 326.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company’s stock worth $92,000 after buying an additional 1,682 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Victoria’s Secret & Co. by 47.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company’s stock valued at $104,000 after acquiring an additional 800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Victoria’s Secret & Co. during the fourth quarter valued at about $112,000. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

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.