Bank of America Corp DE Cuts Stock Holdings in Victoria’s Secret & Co. (NYSE:VSCO)

Bank of America Corp DE trimmed its holdings in shares of Victoria’s Secret & Co. (NYSE:VSCO) by 49.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 236,185 shares of the company’s stock after selling 233,107 shares during the period. Bank of America Corp DE owned about 0.30% of Victoria’s Secret & Co. worth $9,783,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VSCO. Picton Mahoney Asset Management grew its stake in shares of Victoria’s Secret & Co. by 6.5% in the fourth quarter. Picton Mahoney Asset Management now owns 7,782 shares of the company’s stock worth $322,000 after purchasing an additional 477 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Victoria’s Secret & Co. by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,211 shares of the company’s stock worth $340,000 after purchasing an additional 522 shares during the last quarter. Mariner LLC grew its stake in shares of Victoria’s Secret & Co. by 3.0% in the fourth quarter. Mariner LLC now owns 19,307 shares of the company’s stock worth $800,000 after purchasing an additional 569 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Victoria’s Secret & Co. by 47.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company’s stock worth $104,000 after purchasing an additional 800 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Victoria’s Secret & Co. by 4.4% in the fourth quarter. New York State Common Retirement Fund now owns 26,478 shares of the company’s stock worth $1,097,000 after purchasing an additional 1,117 shares during the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc acquired 212,500 shares of the business’s stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $16.15 per share, with a total value of $3,431,875.00. Following the transaction, the insider now directly owns 10,310,631 shares in the company, valued at approximately $166,516,690.65. The trade was a 2.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 1,503,973 shares of company stock valued at $26,617,312. Company insiders own 1.10% of the company’s stock.

Victoria’s Secret & Co. Price Performance

Shares of NYSE VSCO opened at $22.27 on Friday. Victoria’s Secret & Co. has a fifty-two week low of $13.76 and a fifty-two week high of $48.73. The company has a 50 day simple moving average of $19.31 and a two-hundred day simple moving average of $29.80. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.15 and a beta of 2.25. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Analysts expect that Victoria’s Secret & Co. will post 2.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on VSCO. Wells Fargo & Company reissued an “underweight” rating and issued a $15.00 target price (up from $12.00) on shares of Victoria’s Secret & Co. in a research note on Wednesday, May 14th. JPMorgan Chase & Co. raised their target price on Victoria’s Secret & Co. from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Victoria’s Secret & Co. from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group raised their price objective on shares of Victoria’s Secret & Co. from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Barclays lowered their price objective on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Victoria’s Secret & Co. presently has an average rating of “Hold” and a consensus price target of $26.18.

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.