Victoria’s Secret & Co. (NYSE:VSCO) Shares Gap Up Following Insider Buying Activity

Victoria’s Secret & Co. (NYSE:VSCO) gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $17.18, but opened at $17.85. Victoria’s Secret & Co. shares last traded at $17.33, with a volume of 548,357 shares.

Specifically, major shareholder International Pte Ltd Bbrc acquired 542,000 shares of Victoria’s Secret & Co. stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $17.32 per share, with a total value of $9,387,440.00. Following the completion of the transaction, the insider now owns 8,695,019 shares in the company, valued at approximately $150,597,729.08. This trade represents a 6.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VSCO shares. TD Cowen raised their price objective on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Wells Fargo & Company cut their price target on shares of Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Morgan Stanley decreased their price objective on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Barclays lowered their target price on shares of Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Cowen reaffirmed a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Victoria’s Secret & Co. presently has an average rating of “Hold” and a consensus price target of $31.73.

Victoria’s Secret & Co. Trading Up 5.1 %

The stock has a market cap of $1.46 billion, a P/E ratio of 9.61, a PEG ratio of 1.15 and a beta of 2.16. The business’s 50 day simple moving average is $31.34 and its 200 day simple moving average is $32.21. 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 earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.30. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. On average, analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

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

A number of large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in Victoria’s Secret & Co. by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,631,150 shares of the company’s stock worth $67,562,000 after purchasing an additional 22,684 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Victoria’s Secret & Co. in the 4th quarter valued at $991,000. Forest Avenue Capital Management LP bought a new stake in shares of Victoria’s Secret & Co. during the third quarter worth $40,861,000. FengHe Fund Management Pte. Ltd. acquired a new position in shares of Victoria’s Secret & Co. during the fourth quarter valued at $2,435,000. Finally, Oliver Luxxe Assets LLC acquired a new position in shares of Victoria’s Secret & Co. during the fourth quarter valued at $1,963,000. 90.29% of the stock is currently owned by institutional investors and hedge funds.

About Victoria’s Secret & Co.

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.