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

Victoria’s Secret & Co. (NYSE:VSCO)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $37.90, but opened at $33.75. Victoria’s Secret & Co. shares last traded at $36.27, with a volume of 992,708 shares traded.

Analyst Ratings Changes

A number of research firms have weighed in on VSCO. JPMorgan Chase & Co. raised shares of Victoria’s Secret & Co. from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $45.00 in a research note on Monday, December 9th. Jefferies Financial Group raised their price target on shares of Victoria’s Secret & Co. from $30.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group raised Victoria’s Secret & Co. from a “sell” rating to a “neutral” rating and upped their target price for the company from $18.00 to $47.00 in a research report on Tuesday, December 10th. Barclays upgraded Victoria’s Secret & Co. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $51.00 to $53.00 in a research report on Tuesday. Finally, TD Cowen upped their price target on Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Victoria’s Secret & Co. currently has a consensus rating of “Hold” and a consensus target price of $42.36.

Victoria’s Secret & Co. Price Performance

The stock has a market cap of $2.90 billion, a PE ratio of 19.09, a PEG ratio of 2.11 and a beta of 2.14. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12. The business has a 50-day moving average price of $40.67 and a 200 day moving average price of $30.54.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Thursday, December 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.12. The firm had revenue of $1.35 billion during 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%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.86) earnings per share. As a group, research analysts forecast that Victoria’s Secret & Co. will post 2.34 earnings per share for the current fiscal year.

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

Several large investors have recently bought and sold shares of VSCO. Dimensional Fund Advisors LP lifted its stake in shares of Victoria’s Secret & Co. by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 917,017 shares of the company’s stock valued at $16,206,000 after purchasing an additional 109,013 shares in the last quarter. Sei Investments Co. increased its holdings in Victoria’s Secret & Co. by 1.9% in the second quarter. Sei Investments Co. now owns 175,553 shares of the company’s stock valued at $3,102,000 after purchasing an additional 3,253 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Victoria’s Secret & Co. by 234.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,577 shares of the company’s stock worth $735,000 after purchasing an additional 29,161 shares during the last quarter. Algert Global LLC raised its holdings in Victoria’s Secret & Co. by 107.6% in the 2nd quarter. Algert Global LLC now owns 97,321 shares of the company’s stock valued at $1,720,000 after acquiring an additional 50,451 shares during the period. Finally, Quarry LP grew its position in shares of Victoria’s Secret & Co. by 126.6% during the 2nd quarter. Quarry LP now owns 3,157 shares of the company’s stock worth $56,000 after purchasing an additional 1,764 shares in 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.