Victoria’s Secret & Co. (NYSE:VSCO) Sees Unusually-High Trading Volume – What’s Next?

Shares of Victoria’s Secret & Co. (NYSE:VSCO) saw unusually-strong trading volume on Thursday . Approximately 2,597,045 shares changed hands during mid-day trading, a decline of 7% from the previous session’s volume of 2,784,573 shares.The stock last traded at $15.41 and had previously closed at $19.22.

Wall Street Analysts Forecast Growth

VSCO has been the topic of several analyst reports. Wells Fargo & Company cut 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. Morgan Stanley cut their price objective on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. 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 report on Friday, March 7th. Bank of America cut their price target on shares of 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. Finally, Telsey Advisory Group decreased their price objective on Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating for the company in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Victoria’s Secret & Co. has an average rating of “Hold” and a consensus price target of $31.73.

Victoria’s Secret & Co. Stock Down 19.7 %

The business has a 50-day moving average price of $26.77 and a 200-day moving average price of $31.98. The stock has a market cap of $1.21 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 1.15 and a beta of 2.16. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.30. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. As a group, analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share 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 the stock in a transaction on Friday, March 28th. The shares were bought at an average price of $18.48 per share, with a total value of $10,792,320.00. Following the purchase, the insider now directly owns 10,098,131 shares in the company, valued at $186,613,460.88. This trade represents a 6.14 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have bought 1,291,473 shares of company stock worth $23,185,437. Insiders own 1.10% of the company’s stock.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtus Fund Advisers LLC acquired a new position in shares of Victoria’s Secret & Co. during the 3rd quarter worth approximately $27,000. CoreCap Advisors LLC lifted its position in Victoria’s Secret & Co. by 1,898.1% during the fourth quarter. CoreCap Advisors LLC now owns 2,058 shares of the company’s stock worth $85,000 after buying an additional 1,955 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Victoria’s Secret & Co. by 326.6% during the fourth 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 last quarter. Canada Pension Plan Investment Board increased its stake in shares of Victoria’s Secret & Co. by 47.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company’s stock worth $104,000 after acquiring an additional 800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Victoria’s Secret & Co. during the 4th quarter worth $112,000. 90.29% of the stock is currently owned by institutional investors and hedge funds.

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.