Bank of America Issues Pessimistic Forecast for Victoria’s Secret & Co. (NYSE:VSCO) Stock Price

Victoria’s Secret & Co. (NYSE:VSCO) had its price objective reduced by analysts at Bank of America from $20.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price target would indicate a potential downside of 1.01% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Victoria’s Secret & Co. from a “buy” rating to a “hold” rating in a report on Friday, June 6th. Morgan Stanley dropped their price objective on Victoria’s Secret & Co. from $23.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted 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. The Goldman Sachs Group restated a “sell” rating and issued a $15.00 price target on shares of Victoria’s Secret & Co. in a research note on Wednesday, June 4th. Finally, Jefferies Financial Group reduced their price objective on shares of Victoria’s Secret & Co. from $42.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Victoria’s Secret & Co. currently has a consensus rating of “Hold” and an average price target of $24.64.

Victoria’s Secret & Co. Stock Down 8.2%

VSCO stock opened at $18.18 on Thursday. The business has a 50-day moving average of $19.92 and a 200-day moving average of $28.26. Victoria’s Secret & Co. has a fifty-two week low of $13.76 and a fifty-two week high of $48.73. The stock has a market capitalization of $1.43 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.15 and a beta of 2.26. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.17 and a quick ratio of 0.33.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 EPS. On average, sell-side analysts anticipate that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc acquired 584,000 shares of the stock in a transaction on Friday, March 28th. The shares were purchased at an average price of $18.48 per share, for a total transaction of $10,792,320.00. Following the purchase, the insider now directly owns 10,098,131 shares in the company, valued at approximately $186,613,460.88. The trade was a 6.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders acquired 881,645 shares of company stock valued at $15,881,968 in the last quarter. Company insiders own 0.45% of the company’s stock.

Institutional Trading of Victoria’s Secret & Co.

Institutional investors have recently modified their holdings of the stock. Virtus Advisers LLC bought a new position in Victoria’s Secret & Co. in the first quarter valued at approximately $30,000. CoreCap Advisors LLC boosted its stake in shares of Victoria’s Secret & Co. by 1,898.1% in the 4th quarter. CoreCap Advisors LLC now owns 2,058 shares of the company’s stock valued at $85,000 after purchasing an additional 1,955 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Victoria’s Secret & Co. by 326.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company’s stock valued at $92,000 after purchasing an additional 1,682 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Victoria’s Secret & Co. by 47.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company’s stock valued at $104,000 after purchasing an additional 800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Victoria’s Secret & Co. during the 4th quarter worth approximately $112,000. 90.29% of the stock is currently owned by institutional investors.

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.