Victoria’s Secret & Co. (NYSE:VSCO) Reaches New 52-Week High – Here’s What Happened

Victoria’s Secret & Co. (NYSE:VSCO)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.39 and last traded at $37.20, with a volume of 274169 shares trading hands. The stock had previously closed at $34.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $25.00 in a research report on Wednesday, September 18th. The Goldman Sachs Group lifted their price target on shares of Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company boosted their target price on Victoria’s Secret & Co. from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America lifted their price objective on Victoria’s Secret & Co. from $18.00 to $21.00 and gave the stock an “underperform” rating in a report on Friday, August 30th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $27.00 price target on shares of Victoria’s Secret & Co. in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.78.

Victoria’s Secret & Co. Trading Up 2.9 %

The stock’s 50 day simple moving average is $26.86 and its 200 day simple moving average is $22.19. The firm has a market cap of $2.83 billion, a PE ratio of 20.33 and a beta of 2.10. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.31 and a current ratio of 1.00.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its earnings results on Wednesday, August 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Victoria’s Secret & Co. had a net margin of 2.25% and a return on equity of 44.06%. On average, sell-side analysts forecast that Victoria’s Secret & Co. will post 1.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VSCO. Blue Trust Inc. boosted its holdings in shares of Victoria’s Secret & Co. by 741.4% during the 3rd quarter. Blue Trust Inc. now owns 1,708 shares of the company’s stock valued at $44,000 after buying an additional 1,505 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Victoria’s Secret & Co. during the second quarter valued at $50,000. Quarry LP boosted its stake in Victoria’s Secret & Co. by 126.6% in the 2nd quarter. Quarry LP now owns 3,157 shares of the company’s stock worth $56,000 after purchasing an additional 1,764 shares in the last quarter. GAMMA Investing LLC increased its holdings in Victoria’s Secret & Co. by 109.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,160 shares of the company’s stock worth $81,000 after buying an additional 1,652 shares in the last quarter. Finally, Carolina Wealth Advisors LLC bought a new stake in Victoria’s Secret & Co. in the 3rd quarter worth about $92,000. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Company Profile

Victoria's Secret & Co operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. It offers bras, panties, lingerie, casual sleepwear, and athleisure and swim, as well as fragrances and body care; and loungewear, knit tops, activewear, and accessories and beauty under the Victoria's Secret, PINK, and Adore Me brands.