Victoria's Secret & Co. (NYSE:VSCO) Stock Price Down 9.9% Following Analyst Downgrade

Shares of Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) dropped 9.9% during mid-day trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $35.00 to $19.00. The Goldman Sachs Group currently has a sell rating on the stock. Victoria's Secret & Co. traded as low as $17.13 and last traded at $17.17. Approximately 1,566,651 shares traded hands during trading, a decline of 39% from the average daily volume of 2,555,637 shares. The stock had previously closed at $19.05.

A number of other analysts also recently issued reports on VSCO. Wells Fargo & Company lowered their target price on Victoria's Secret & Co. from $40.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. 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. Morgan Stanley cut their price target on Victoria's Secret & Co. from $38.00 to $23.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Cowen restated a "hold" rating on shares of Victoria's Secret & Co. in a research note on Friday, March 7th. Finally, Bank of America decreased their price target on shares of Victoria's Secret & Co. from $40.00 to $35.00 and set an "underperform" rating on the stock in a research note on Thursday, January 30th. Two 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 data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $31.73.

Insider Activity at Victoria's Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc bought 542,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $17.32 per share, for a total transaction of $9,387,440.00. Following the completion of the acquisition, the insider now directly owns 8,695,019 shares in the company, valued at approximately $150,597,729.08. This trade represents a 6.65 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

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

Institutional investors have recently added to or reduced their stakes in the stock. Versor Investments LP purchased a new stake in Victoria's Secret & Co. in the 3rd quarter worth about $907,000. Aigen Investment Management LP bought a new position in Victoria's Secret & Co. in the 3rd quarter worth approximately $332,000. Oppenheimer Asset Management Inc. purchased a new position in Victoria's Secret & Co. in the 3rd quarter valued at approximately $360,000. Intech Investment Management LLC purchased a new stake in shares of Victoria's Secret & Co. during the third quarter worth $382,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Victoria's Secret & Co. by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,608,466 shares of the company's stock worth $41,338,000 after acquiring an additional 76,858 shares during the period. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Stock Performance

The company has a 50-day moving average price of $31.81 and a two-hundred day moving average price of $32.25. The company has a market capitalization of $1.39 billion, a PE ratio of 9.16, a PEG ratio of 1.15 and a beta of 2.16. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12.

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

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.