Victoria's Secret & Co. (NYSE:VSCO) Stock Price Up 8.4% - Here's Why

Key Points

• Victoria's Secret & Co. (NYSE:VSCO) shares surged 8.4% to a trading price of $20.30, despite a significant drop in trading volume.
• The company received mixed ratings from analysts, with some downgrading their price targets, while others set a target as high as $24.00, resulting in a consensus rating of "Hold."
• Victoria's Secret reported a revenue of $1.35 billion during its last quarter, slightly exceeding analyst estimates, with earnings per share matching expectations at $0.09.

Shares of Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) rose 8.4% during mid-day trading on Monday . The stock traded as high as $20.22 and last traded at $20.30. Approximately 1,252,493 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 3,467,477 shares. The stock had previously closed at $18.72.

Analyst Upgrades and Downgrades

VSCO has been the topic of several recent research reports. Morgan Stanley reiterated a "positive" rating on shares of Victoria's Secret & Co. in a research note on Thursday, June 12th. Wells Fargo & Company lowered their price target on shares of Victoria's Secret & Co. from $15.00 to $14.00 and set an "underweight" rating on the stock in a research note on Monday. UBS Group set a $24.00 price target on shares of Victoria's Secret & Co. and gave the company a "neutral" rating in a research note on Friday, May 23rd. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price target on shares of Victoria's Secret & Co. in a research note on Wednesday, June 11th. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $15.00 price target on shares of Victoria's Secret & Co. in a research note on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Victoria's Secret & Co. presently has a consensus rating of "Hold" and a consensus price target of $25.00.

Victoria's Secret & Co. Price Performance

The business's 50-day moving average price is $19.98 and its 200 day moving average price is $22.62. The company has a quick ratio of 0.33, a current ratio of 1.16 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $1.64 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 1.02 and a beta of 2.17.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last announced its earnings results on Wednesday, June 11th. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Victoria's Secret & Co. had a net margin of 2.69% and a return on equity of 37.76%. Victoria's Secret & Co.'s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 earnings per share. Analysts anticipate that Victoria's Secret & Co. will post 2.37 EPS for the current fiscal year.

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

A number of hedge funds have recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in Victoria's Secret & Co. during the 1st quarter valued at about $30,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Victoria's Secret & Co. during the 2nd quarter valued at about $35,000. NBC Securities Inc. increased its position in shares of Victoria's Secret & Co. by 141,000.0% during the 1st quarter. NBC Securities Inc. now owns 2,822 shares of the company's stock valued at $52,000 after purchasing an additional 2,820 shares during the last quarter. Allworth Financial LP raised its stake in Victoria's Secret & Co. by 677.4% during the 1st quarter. Allworth Financial LP now owns 3,063 shares of the company's stock worth $57,000 after acquiring an additional 2,669 shares during the period. Finally, KBC Group NV raised its stake in Victoria's Secret & Co. by 40.8% during the 1st quarter. KBC Group NV now owns 3,904 shares of the company's stock worth $73,000 after acquiring an additional 1,132 shares during the period. Institutional investors own 90.29% of the company's stock.

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.

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