Victoria’s Secret & Co. (NYSE:VSCO) Shares Gap Up – Here’s What Happened

Victoria’s Secret & Co. (NYSE:VSCO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $18.19, but opened at $19.23. Victoria’s Secret & Co. shares last traded at $18.96, with a volume of 634,187 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on VSCO shares. Jefferies Financial Group dropped their price target on shares of Victoria’s Secret & Co. from $42.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, May 21st. Morgan Stanley reiterated a “positive” rating on shares of Victoria’s Secret & Co. in a research note on Thursday, June 12th. Barclays restated an “overweight” rating and set a $23.00 target price (up from $22.00) on shares of Victoria’s Secret & Co. in a research report on Thursday, June 12th. BMO Capital Markets lowered their target price on shares of 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. Finally, Telsey Advisory Group restated a “market perform” rating and set a $24.00 target price on shares of Victoria’s Secret & Co. in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.64.

Victoria’s Secret & Co. Trading Down 1.3%

The company has a quick ratio of 0.33, a current ratio of 1.16 and a debt-to-equity ratio of 1.60. The company has a fifty day moving average of $19.93 and a two-hundred day moving average of $27.91. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 1.03 and a beta of 2.26.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its quarterly earnings results on Wednesday, June 11th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Victoria’s Secret & Co. had a return on equity of 37.76% and a net margin of 2.69%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts expect that Victoria’s Secret & Co. will post 2.37 EPS for the current year.

Insider Buying and Selling

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc bought 584,000 shares of Victoria’s Secret & Co. stock in a transaction on Friday, March 28th. The stock was bought at an average price of $18.48 per share, with a total value of $10,792,320.00. Following the completion of the acquisition, the insider now owns 10,098,131 shares in the company, valued at $186,613,460.88. The trade was a 6.14% 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 purchased a total of 881,645 shares of company stock valued at $15,881,968 over the last three months. 0.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in Victoria’s Secret & Co. by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,631,150 shares of the company’s stock valued at $67,562,000 after acquiring an additional 22,684 shares during the period. Vanguard Group Inc. lifted its holdings in Victoria’s Secret & Co. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,927,889 shares of the company’s stock valued at $369,793,000 after acquiring an additional 58,981 shares during the period. Raymond James Financial Inc. acquired a new stake in Victoria’s Secret & Co. in the fourth quarter valued at $7,373,000. Tremblant Capital Group increased its position in shares of Victoria’s Secret & Co. by 137.1% in the fourth quarter. Tremblant Capital Group now owns 550,135 shares of the company’s stock valued at $22,787,000 after buying an additional 318,080 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Victoria’s Secret & Co. by 10.2% during the 4th quarter. Northern Trust Corp now owns 896,274 shares of the company’s stock worth $37,124,000 after buying an additional 82,729 shares during the last quarter. Institutional investors and hedge funds own 90.29% of the company’s stock.

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.