Bank of America Corp DE Sells 233,107 Shares of Victoria's Secret & Co. (NYSE:VSCO)

Bank of America Corp DE lowered its position in Victoria's Secret & Co. (NYSE:VSCO - Free Report) by 49.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 236,185 shares of the company's stock after selling 233,107 shares during the quarter. Bank of America Corp DE owned 0.30% of Victoria's Secret & Co. worth $9,783,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of VSCO. Charles Schwab Investment Management Inc. raised its stake in shares of Victoria's Secret & Co. by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,631,150 shares of the company's stock valued at $67,562,000 after purchasing an additional 22,684 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Victoria's Secret & Co. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,927,889 shares of the company's stock valued at $369,793,000 after buying an additional 58,981 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Victoria's Secret & Co. during the 4th quarter worth about $7,373,000. Northern Trust Corp boosted its position in shares of Victoria's Secret & Co. by 10.2% during the 4th quarter. Northern Trust Corp now owns 896,274 shares of the company's stock valued at $37,124,000 after acquiring an additional 82,729 shares in the last quarter. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of Victoria's Secret & Co. during the 4th quarter valued at about $991,000. Institutional investors and hedge funds own 90.29% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder International Pte Ltd Bbrc purchased 80,328 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $16.78 per share, with a total value of $1,347,903.84. Following the purchase, the insider now directly owns 9,255,347 shares in the company, valued at $155,304,722.66. This trade represents a 0.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders bought 1,503,973 shares of company stock valued at $26,617,312. 1.10% of the stock is currently owned by insiders.

Victoria's Secret & Co. Price Performance

Shares of NYSE VSCO traded down $0.34 during trading on Thursday, reaching $20.65. The company had a trading volume of 5,135,617 shares, compared to its average volume of 2,963,557. Victoria's Secret & Co. has a 52 week low of $13.76 and a 52 week high of $48.73. The business's 50 day moving average price is $19.32 and its 200-day moving average price is $29.43. The stock has a market cap of $1.62 billion, a PE ratio of 10.70, a PEG ratio of 1.15 and a beta of 2.25. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.10 billion. Victoria's Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. Analysts expect that Victoria's Secret & Co. will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Victoria's Secret & Co. from $46.00 to $31.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company reissued an "underweight" rating and issued a $15.00 target price (up from $12.00) on shares of Victoria's Secret & Co. in a report on Wednesday, May 14th. Cowen restated a "hold" rating on shares of Victoria's Secret & Co. in a research report on Friday, March 7th. Telsey Advisory Group lowered 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 research report on Thursday, March 6th. Finally, Barclays dropped their price objective on Victoria's Secret & Co. from $38.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $26.18.

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.