Victoria’s Secret & Co. (NYSE:VSCO) Price Target Cut to $17.00 by Analysts at JPMorgan Chase & Co.

Victoria’s Secret & Co. (NYSE:VSCO) had its price target decreased by JPMorgan Chase & Co. from $35.00 to $17.00 in a research note released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on VSCO. Barclays cut their price target 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. BMO Capital Markets cut their price target on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Cowen reiterated a “hold” rating on shares of Victoria’s Secret & Co. in a research note on Friday, March 7th. Bank of America decreased their price target on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating on the stock in a research report on Thursday, January 30th. Finally, Morgan Stanley decreased their target price on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Two investment 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. Based on data from MarketBeat.com, Victoria’s Secret & Co. has a consensus rating of “Hold” and a consensus target price of $30.09.

Victoria’s Secret & Co. Trading Down 4.8 %

Shares of VSCO opened at $16.27 on Monday. The stock’s 50-day moving average price is $22.96 and its 200 day moving average price is $31.40. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12. Victoria’s Secret & Co. has a 12-month low of $13.76 and a 12-month high of $48.73. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.43, a P/E/G ratio of 1.15 and a beta of 2.26.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.30. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. As a group, research analysts predict that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder International Pte Ltd Bbrc purchased 80,328 shares of Victoria’s Secret & Co. stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,347,903.84. Following the transaction, the insider now directly owns 9,255,347 shares of the company’s stock, valued at approximately $155,304,722.66. This trade represents a 0.88 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 1,503,973 shares of company stock valued at $26,617,312 over the last ninety days. Insiders own 1.10% of the company’s stock.

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

Several hedge funds have recently added to or reduced their stakes in VSCO. Marshall Wace LLP increased its stake in shares of Victoria’s Secret & Co. by 481.5% in the 4th quarter. Marshall Wace LLP now owns 1,956,760 shares of the company’s stock valued at $81,049,000 after acquiring an additional 1,620,256 shares during the last quarter. FMR LLC boosted its position in shares of Victoria’s Secret & Co. by 44.7% during the fourth quarter. FMR LLC now owns 3,988,122 shares of the company’s stock worth $165,188,000 after purchasing an additional 1,231,090 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Victoria’s Secret & Co. in the 4th quarter valued at $37,693,000. SRS Investment Management LLC acquired a new stake in Victoria’s Secret & Co. during the 4th quarter worth $37,011,000. Finally, Point72 Asset Management L.P. bought a new position in Victoria’s Secret & Co. during the fourth quarter worth about $24,940,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

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.