Victoria’s Secret & Co. (NYSE:VSCO) Price Target Cut to $19.00 by Analysts at Morgan Stanley

Victoria’s Secret & Co. (NYSE:VSCO) had its price objective decreased by equities researchers at Morgan Stanley from $23.00 to $19.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 1.25% from the company’s previous close.

A number of other analysts have also recently commented on the company. Bank of America cut their price objective on Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th. Telsey Advisory Group reduced their price objective on shares of Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group dropped their target price on shares of Victoria’s Secret & Co. from $19.00 to $15.00 and set a “sell” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company downgraded shares of Victoria’s Secret & Co. from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $25.00 to $12.00 in a research report on Wednesday, April 30th. Finally, Barclays lowered their price objective on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.18.

Victoria’s Secret & Co. Stock Performance

Shares of VSCO traded down $0.02 during trading hours on Tuesday, hitting $19.24. The stock had a trading volume of 958,128 shares, compared to its average volume of 2,949,042. The firm has a 50-day moving average price of $18.99 and a 200 day moving average price of $30.58. Victoria’s Secret & Co. has a fifty-two week low of $13.76 and a fifty-two week high of $48.73. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 9.97, a PEG 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 issued 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 business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. As a group, research analysts anticipate that Victoria’s Secret & Co. will post 2.37 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder International Pte Ltd Bbrc acquired 80,328 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $16.78 per share, with a total value of $1,347,903.84. Following the transaction, the insider now 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 1,503,973 shares of company stock valued at $26,617,312. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in Victoria’s Secret & Co. by 481.5% during 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 period. FMR LLC lifted 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 purchased a new position in shares of Victoria’s Secret & Co. in the fourth quarter valued at approximately $37,693,000. SRS Investment Management LLC purchased a new position in shares of Victoria’s Secret & Co. in the fourth quarter valued at approximately $37,011,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Victoria’s Secret & Co. in the fourth quarter valued at approximately $24,940,000. 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.