Victoria's Secret & Co. (NYSE:VSCO) Price Target Cut to $18.00 by Analysts at Bank of America

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) had its price target dropped by investment analysts at Bank of America from $20.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Bank of America's price target would suggest a potential downside of 1.01% from the stock's previous close.

VSCO has been the subject of a number of other research reports. Barclays increased their target price on shares of Victoria's Secret & Co. from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday. Cowen reiterated a "hold" rating on shares of Victoria's Secret & Co. in a research report on Friday, March 7th. Wall Street Zen lowered shares of Victoria's Secret & Co. from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. increased their target price on shares of Victoria's Secret & Co. from $17.00 to $22.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Finally, Jefferies Financial Group decreased their target price on shares of Victoria's Secret & Co. from $42.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Three equities 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 company's stock. According to MarketBeat.com, Victoria's Secret & Co. presently has an average rating of "Hold" and an average target price of $24.64.

Victoria's Secret & Co. Stock Performance

Shares of VSCO stock traded down $1.63 during trading hours on Thursday, reaching $18.18. The stock had a trading volume of 5,001,662 shares, compared to its average volume of 2,990,329. 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. has a twelve month low of $13.76 and a twelve month high of $48.73. The firm has a 50-day simple moving average of $19.92 and a 200-day simple moving average of $28.12. The firm has a market capitalization of $1.43 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.15 and a beta of 2.26.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Victoria's Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter last year, the company earned $0.12 EPS. The company's revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that Victoria's Secret & Co. will post 2.37 earnings per share for the current year.

Insider Activity

In other news, major shareholder International Pte Ltd Bbrc bought 584,000 shares of the firm's stock in a transaction on Friday, March 28th. The stock was bought at an average cost of $18.48 per share, for a total transaction of $10,792,320.00. Following the completion of the acquisition, the insider now directly owns 10,098,131 shares in the company, valued at $186,613,460.88. This represents a 6.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders acquired 881,645 shares of company stock worth $15,881,968. Corporate insiders own 0.45% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VSCO. Marshall Wace LLP boosted its holdings 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 worth $81,049,000 after buying an additional 1,620,256 shares during the period. Millennium Management LLC lifted its position in shares of Victoria's Secret & Co. by 9,595.8% in the first quarter. Millennium Management LLC now owns 1,419,080 shares of the company's stock worth $26,367,000 after purchasing an additional 1,404,444 shares in the last quarter. FMR LLC raised its position in Victoria's Secret & Co. by 44.7% during the fourth quarter. FMR LLC now owns 3,988,122 shares of the company's stock valued at $165,188,000 after acquiring an additional 1,231,090 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Victoria's Secret & Co. during the fourth quarter valued at approximately $37,693,000. Finally, SRS Investment Management LLC bought a new position in Victoria's Secret & Co. during the fourth quarter valued at approximately $37,011,000. 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.