Victoria’s Secret & Co. (NYSE:VSCO) Sees Significant Decrease in Short Interest

Victoria’s Secret & Co. (NYSE:VSCOGet Rating) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 5,490,000 shares, a decline of 17.9% from the October 15th total of 6,690,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 7.6% of the shares of the stock are short sold.

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

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Victoria’s Secret & Co. by 26.7% during the third quarter. Dimensional Fund Advisors LP now owns 560,985 shares of the company’s stock worth $16,337,000 after purchasing an additional 118,327 shares during the period. Seven Eight Capital LP acquired a new position in shares of Victoria’s Secret & Co. during the third quarter worth approximately $412,000. UBS Group AG raised its position in Victoria’s Secret & Co. by 35.2% in the 3rd quarter. UBS Group AG now owns 2,340,812 shares of the company’s stock valued at $68,164,000 after buying an additional 609,435 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Victoria’s Secret & Co. in the 3rd quarter valued at $458,000. Finally, Amalgamated Bank raised its position in Victoria’s Secret & Co. by 7.9% in the 3rd quarter. Amalgamated Bank now owns 61,944 shares of the company’s stock valued at $1,804,000 after buying an additional 4,550 shares during the last quarter. 96.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on VSCO. BMO Capital Markets lowered their target price on Victoria’s Secret & Co. from $50.00 to $45.00 in a research note on Thursday, August 25th. Morgan Stanley reduced their price target on Victoria’s Secret & Co. from $51.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, August 26th. Cowen started coverage on Victoria’s Secret & Co. in a report on Monday, August 1st. They set a “market perform” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Victoria’s Secret & Co. from $48.00 to $51.00 in a report on Friday, September 16th. Finally, UBS Group boosted their price target on Victoria’s Secret & Co. from $31.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, August 15th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.08.

Victoria’s Secret & Co. Price Performance

Victoria’s Secret & Co. stock opened at $44.55 on Monday. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 1.11 and a beta of 1.91. Victoria’s Secret & Co. has a 52-week low of $26.14 and a 52-week high of $65.20. The stock’s 50 day moving average price is $34.89 and its two-hundred day moving average price is $36.77. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.32 and a current ratio of 1.07.

Victoria’s Secret & Co. (NYSE:VSCOGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.18. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Victoria’s Secret & Co. had a return on equity of 198.36% and a net margin of 7.13%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 EPS. On average, equities analysts predict that Victoria’s Secret & Co. will post 4.68 earnings per share for the current year.

About Victoria’s Secret & Co.

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Victoria's Secret & Co operates as a specialty retailer of women's intimate, personal care, and beauty products worldwide. The company offers bras, panties, lingerie, sleepwear, loungewear, and athletic attire and swimwear, as well as fragrances and body care products, and accessories under the Victoria's Secret and PINK brands.

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