JPMorgan Chase & Co. Cuts Victoria’s Secret & Co. (NYSE:VSCO) Price Target to $17.00

Victoria’s Secret & Co. (NYSE:VSCO) had its price objective lowered by JPMorgan Chase & Co. from $35.00 to $17.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

VSCO has been the subject of several other reports. BMO Capital Markets decreased their price target on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Telsey Advisory Group reduced their target price on shares of Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating for the company in a research note on Thursday, March 6th. The Goldman Sachs Group dropped their price target on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company reduced their price objective on shares of Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Finally, Bank of America lowered their price objective on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating on the stock in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.09.

Victoria’s Secret & Co. Stock Down 1.8 %

VSCO stock opened at $15.65 on Monday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.15 and a beta of 2.26. The company has a fifty day moving average price of $22.28 and a 200 day moving average price of $31.19. 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 12 month low of $13.76 and a 12 month high of $48.73.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.10 billion. Sell-side analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Insider Activity at Victoria’s Secret & Co.

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc acquired 80,328 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,347,903.84. Following the transaction, the insider now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought 1,503,973 shares of company stock valued at $26,617,312 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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

Several hedge funds have recently added to or reduced their stakes in VSCO. XTX Topco Ltd purchased a new position in shares of Victoria’s Secret & Co. during the 3rd quarter worth approximately $412,000. Geode Capital Management LLC grew its holdings in Victoria’s Secret & Co. by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,794,221 shares of the company’s stock valued at $46,121,000 after buying an additional 24,967 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Victoria’s Secret & Co. by 3.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 51,139 shares of the company’s stock valued at $1,314,000 after buying an additional 1,617 shares during the last quarter. Castellan Group purchased a new position in Victoria’s Secret & Co. during the third quarter worth $6,218,000. Finally, GAMMA Investing LLC raised its holdings in shares of Victoria’s Secret & Co. by 10.3% in the fourth quarter. GAMMA Investing LLC now owns 3,486 shares of the company’s stock worth $144,000 after acquiring an additional 326 shares during the last quarter. 90.29% of the stock is currently owned by hedge funds and other 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.