Victoria’s Secret & Co. (NYSE:VSCO) Shares Gap Down – Here’s Why

Victoria’s Secret & Co. (NYSE:VSCO) gapped down prior to trading on Thursday . The stock had previously closed at $43.90, but opened at $42.81. Victoria’s Secret & Co. shares last traded at $43.68, with a volume of 258,366 shares traded.

Analyst Ratings Changes

Several analysts recently issued reports on VSCO shares. Barclays upgraded Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $25.00 in a report on Wednesday, September 18th. BMO Capital Markets lifted their price target on Victoria’s Secret & Co. from $33.00 to $46.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley boosted their price target on Victoria’s Secret & Co. from $23.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday. Bank of America raised their price objective on shares of Victoria’s Secret & Co. from $18.00 to $21.00 and gave the company an “underperform” rating in a research report on Friday, August 30th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $40.00 target price on shares of Victoria’s Secret & Co. in a research report on Friday. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.64.

Victoria’s Secret & Co. Price Performance

The stock’s 50 day moving average price is $31.87 and its two-hundred day moving average price is $24.51. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.00 and a quick ratio of 0.31. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 24.88 and a beta of 2.19.

Victoria’s Secret & Co. (NYSE:VSCO) last released its quarterly earnings results on Thursday, December 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.12. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Victoria’s Secret & Co. had a net margin of 2.25% and a return on equity of 44.06%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.86) earnings per share. On average, equities research analysts anticipate that Victoria’s Secret & Co. will post 2.01 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VSCO. Castellan Group acquired a new stake in shares of Victoria’s Secret & Co. in the third quarter worth $6,218,000. Sanctuary Advisors LLC grew its position in Victoria’s Secret & Co. by 3.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,139 shares of the company’s stock worth $1,314,000 after purchasing an additional 1,617 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Victoria’s Secret & Co. by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,794,221 shares of the company’s stock worth $46,121,000 after purchasing an additional 24,967 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Victoria’s Secret & Co. during the 3rd quarter worth about $768,000. Finally, XTX Topco Ltd acquired a new position in shares of Victoria’s Secret & Co. during the third quarter valued at about $412,000. 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 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.