Victoria's Secret & Co. (NYSE:VSCO) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake 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 & Exchange Commission. The institutional investor owned 236,185 shares of the company's stock after selling 233,107 shares during the period. Bank of America Corp DE owned 0.30% of Victoria's Secret & Co. worth $9,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Victoria's Secret & Co. by 326.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company's stock worth $92,000 after buying an additional 1,682 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Victoria's Secret & Co. by 47.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company's stock valued at $104,000 after acquiring an additional 800 shares during the period. Pinpoint Asset Management Ltd purchased a new position in Victoria's Secret & Co. in the 4th quarter worth $123,000. Mercer Global Advisors Inc. ADV acquired a new stake in Victoria's Secret & Co. during the 4th quarter worth about $204,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Victoria's Secret & Co. during the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 90.29% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder International Pte Ltd Bbrc purchased 542,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $17.32 per share, with a total value of $9,387,440.00. Following the acquisition, the insider now owns 8,695,019 shares in the company, valued at $150,597,729.08. The trade was a 6.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 1,503,973 shares of company stock worth $26,617,312. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

VSCO has been the subject of several research analyst reports. Telsey Advisory Group reduced their price objective on Victoria's Secret & Co. from $40.00 to $24.00 and set a "market perform" rating for the company in a research note on Thursday, March 6th. Wall Street Zen raised shares of Victoria's Secret & Co. from a "hold" rating to a "buy" rating in a research report on Saturday. BMO Capital Markets decreased their price objective on shares of Victoria's Secret & Co. from $46.00 to $31.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Morgan Stanley cut their price objective on shares of Victoria's Secret & Co. from $23.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, Barclays reduced their target price on shares of Victoria's Secret & Co. from $38.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Victoria's Secret & Co. has a consensus rating of "Hold" and a consensus price target of $26.18.

Victoria's Secret & Co. Stock Performance

NYSE VSCO traded up $0.20 during mid-day trading on Tuesday, reaching $22.47. 3,580,690 shares of the stock were exchanged, compared to its average volume of 2,939,783. The company has a market capitalization of $1.77 billion, a P/E ratio of 11.64, a P/E/G 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. The business's 50 day moving average is $19.32 and its 200-day moving average is $29.64. Victoria's Secret & Co. has a 1 year low of $13.76 and a 1 year high of $48.73.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates 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 forecast that Victoria's Secret & Co. will post 2.37 EPS for the current fiscal year.

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.