Victoria's Secret & Co. (NYSE:VSCO) Stock Price Down 3.6% - Here's Why

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report)'s stock price was down 3.6% during mid-day trading on Wednesday . The stock traded as low as $20.73 and last traded at $21.41. Approximately 2,049,600 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 2,959,694 shares. The stock had previously closed at $22.20.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group dropped their target price on Victoria's Secret & Co. from $42.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. BMO Capital Markets dropped their target price on Victoria's Secret & Co. from $46.00 to $31.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company restated an "underweight" rating and issued a $15.00 target price (up previously 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 report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their target price on Victoria's Secret & Co. from $17.00 to $22.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $24.64.

Victoria's Secret & Co. Price Performance

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 business has a 50-day moving average price of $19.92 and a 200 day moving average price of $28.19. The stock has a market cap of $1.43 billion, a PE ratio of 9.42, a PEG ratio of 1.15 and a beta of 2.26.

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

Insider Buying and Selling

In other Victoria's Secret & Co. news, major shareholder International Pte Ltd Bbrc bought 85,145 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were acquired at an average cost of $19.47 per share, for a total transaction of $1,657,773.15. Following the purchase, the insider now directly owns 9,389,805 shares of the company's stock, valued at $182,819,503.35. The trade was a 0.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have purchased 881,645 shares of company stock valued at $15,881,968. Corporate insiders own 0.45% of the company's stock.

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

Institutional investors have recently added to or reduced their stakes in the business. Virtus Advisers LLC bought a new position in Victoria's Secret & Co. in the 1st quarter worth about $30,000. CoreCap Advisors LLC raised its holdings in shares of Victoria's Secret & Co. by 1,898.1% during the 4th quarter. CoreCap Advisors LLC now owns 2,058 shares of the company's stock valued at $85,000 after buying an additional 1,955 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Victoria's Secret & Co. by 326.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company's stock valued at $92,000 after buying an additional 1,682 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Victoria's Secret & Co. by 47.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the company's stock valued at $104,000 after buying an additional 800 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Victoria's Secret & Co. during the 4th quarter valued at about $112,000. 90.29% of the stock is currently owned by institutional investors.

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.