International Pte Ltd Bbrc Acquires 542,000 Shares of Victoria’s Secret & Co. (NYSE:VSCO) Stock

Victoria’s Secret & Co. (NYSE:VSCO) major shareholder International Pte Ltd Bbrc acquired 542,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $17.32 per share, for a total transaction of $9,387,440.00. Following the completion of the acquisition, the insider now directly owns 8,695,019 shares of the company’s stock, valued at approximately $150,597,729.08. This represents a 6.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Victoria’s Secret & Co. Trading Up 3.0 %

NYSE VSCO opened at $17.69 on Friday. The company has a market cap of $1.39 billion, a PE ratio of 9.16, a PEG ratio of 1.15 and a beta of 2.16. Victoria’s Secret & Co. has a 12 month low of $15.12 and a 12 month high of $48.73. The stock has a 50 day moving average of $31.81 and a 200-day moving average of $32.25. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, equities research analysts anticipate that Victoria’s Secret & Co. will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VSCO shares. BMO Capital Markets cut their price objective on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group dropped their target price on Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating for the company in a research report on Monday. Telsey Advisory Group decreased their price target on Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating on the stock in a report on Thursday, March 6th. UBS Group reduced their target price on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley cut their target price on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in Victoria’s Secret & Co. by 146.1% in the 3rd quarter. FMR LLC now owns 2,757,032 shares of the company’s stock valued at $70,856,000 after acquiring an additional 1,636,602 shares during the period. Marshall Wace LLP raised its position in shares of Victoria’s Secret & Co. by 481.5% in the fourth quarter. Marshall Wace LLP now owns 1,956,760 shares of the company’s stock valued at $81,049,000 after purchasing an additional 1,620,256 shares during the period. Forest Avenue Capital Management LP bought a new position in shares of Victoria’s Secret & Co. in the third quarter valued at about $40,861,000. Point72 Hong Kong Ltd acquired a new stake in shares of Victoria’s Secret & Co. during the 4th quarter worth about $37,693,000. Finally, SRS Investment Management LLC bought a new stake in shares of Victoria’s Secret & Co. during the 4th quarter worth about $37,011,000. 90.29% of the stock is currently owned by institutional investors.

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.