Morgan Stanley Lowers Victoria's Secret & Co. (NYSE:VSCO) Price Target to $19.00

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) had its price objective reduced by equities research analysts at Morgan Stanley from $23.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential downside of 2.91% from the company's previous close.

Other research analysts have also issued research reports about the company. Bank of America reduced their price target on Victoria's Secret & Co. from $40.00 to $35.00 and set an "underperform" rating for the company in a research report on Thursday, January 30th. Telsey Advisory Group reduced their target price 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. JPMorgan Chase & Co. decreased their price target on Victoria's Secret & Co. from $35.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group reduced their target price on Victoria's Secret & Co. from $19.00 to $15.00 and set a "sell" rating on the stock in a research note on Tuesday, April 22nd. Finally, Cowen reiterated a "hold" rating on shares of Victoria's Secret & Co. in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $28.18.

Victoria's Secret & Co. Stock Down 0.9 %

VSCO stock traded down $0.17 during midday trading on Tuesday, hitting $19.57. The company's stock had a trading volume of 210,353 shares, compared to its average volume of 2,948,794. The firm's 50-day moving average is $18.60 and its 200-day moving average is $30.36. Victoria's Secret & Co. has a 12 month low of $13.76 and a 12 month high of $48.73. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12. The company has a market cap of $1.54 billion, a PE ratio of 10.14, a P/E/G ratio of 1.15 and a beta of 2.25.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.30. Victoria's Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The business had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.10 billion. On average, equities research analysts forecast that Victoria's Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Victoria's Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc purchased 80,328 shares of the stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $16.78 per share, for a total transaction of $1,347,903.84. Following the acquisition, the insider now directly owns 9,255,347 shares of the company's stock, valued at approximately $155,304,722.66. The trade was a 0.88 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 1,503,973 shares of company stock valued at $26,617,312 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Victoria's Secret & Co.

Institutional investors have recently made changes to their positions in the stock. Blueshift Asset Management LLC acquired a new stake in shares of Victoria's Secret & Co. during the 1st quarter worth about $230,000. US Bancorp DE increased its stake in shares of Victoria's Secret & Co. by 335.8% in the first quarter. US Bancorp DE now owns 11,409 shares of the company's stock valued at $212,000 after buying an additional 8,791 shares during the period. Bayforest Capital Ltd acquired a new stake in Victoria's Secret & Co. during the first quarter worth approximately $813,000. Federated Hermes Inc. lifted its holdings in shares of Victoria's Secret & Co. by 330.6% in the 1st quarter. Federated Hermes Inc. now owns 570,073 shares of the company's stock worth $10,592,000 after purchasing an additional 437,688 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Victoria's Secret & Co. by 6.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,364 shares of the company's stock worth $378,000 after acquiring an additional 1,307 shares in the last quarter. 90.29% of the stock is 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.