Insider Buying: Victoria’s Secret & Co. (NYSE:VSCO) Major Shareholder Buys 542,000 Shares of Stock

Victoria’s Secret & Co. (NYSE:VSCO) major shareholder International Pte Ltd Bbrc acquired 542,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $17.32 per share, for a total transaction of $9,387,440.00. Following the purchase, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Victoria’s Secret & Co. Price Performance

Victoria’s Secret & Co. stock traded up $0.97 during midday trading on Wednesday, reaching $17.22. The company’s stock had a trading volume of 9,569,997 shares, compared to its average volume of 3,001,896. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17. The stock’s 50 day simple moving average is $32.75 and its 200 day simple moving average is $32.46. Victoria’s Secret & Co. has a fifty-two week low of $15.12 and a fifty-two week high of $48.73. The firm has a market capitalization of $1.35 billion, a PE ratio of 8.92, a P/E/G ratio of 1.15 and a beta of 2.16.

Victoria’s Secret & Co. (NYSE:VSCO) last released its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.10 billion. On average, equities research analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays decreased their target price on shares of 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. UBS Group lowered their price target on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Bank of America dropped their target price on shares of 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. BMO Capital Markets cut 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 note on Thursday, March 6th. Finally, Cowen reissued a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.73.

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

Several hedge funds have recently made changes to their positions in VSCO. FMR LLC increased its holdings in shares of Victoria’s Secret & Co. by 146.1% during the 3rd quarter. FMR LLC now owns 2,757,032 shares of the company’s stock worth $70,856,000 after buying an additional 1,636,602 shares during the last quarter. Marshall Wace LLP boosted its position in Victoria’s Secret & Co. by 481.5% during the 4th quarter. Marshall Wace LLP now owns 1,956,760 shares of the company’s stock worth $81,049,000 after purchasing an additional 1,620,256 shares during the period. Forest Avenue Capital Management LP acquired a new stake in Victoria’s Secret & Co. in the 3rd quarter valued at $40,861,000. Point72 Hong Kong Ltd purchased a new position in Victoria’s Secret & Co. in the fourth quarter valued at about $37,693,000. Finally, SRS Investment Management LLC acquired a new position in shares of Victoria’s Secret & Co. during the fourth quarter worth about $37,011,000. 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.