Victoria's Secret & Co. (NYSE:VSCO) Shares 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.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) rose 8.4% during trading on Monday . The stock traded as high as $20.22 and last traded at $20.30. Approximately 1,252,493 shares changed hands 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 Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price objective on Victoria's Secret & Co. from $20.00 to $18.00 and set an "underperform" rating for the company in a research report on Thursday, June 12th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $15.00 price objective on shares of Victoria's Secret & Co. in a research report on Wednesday, June 4th. Morgan Stanley reissued a "positive" rating on shares of Victoria's Secret & Co. in a research report on Thursday, June 12th. Telsey Advisory Group reiterated a "market perform" rating and set a $24.00 target price on shares of Victoria's Secret & Co. in a research report on Wednesday, June 11th. Finally, Jefferies Financial Group dropped their price objective on Victoria's Secret & Co. from $42.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.00.

Victoria's Secret & Co. Trading Down 2.8%

The company has a market cap of $1.68 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.12 and a beta of 2.17. 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 business has a 50-day moving average price of $19.90 and a two-hundred day moving average price of $22.36.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.32 billion. Victoria's Secret & Co. had a return on equity of 37.76% and a net margin of 2.69%. The company's revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share. On average, analysts predict that Victoria's Secret & Co. will post 2.37 EPS for the current year.

Institutional Investors Weigh In On Victoria's Secret & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Everett Harris & Co. CA boosted its holdings in Victoria's Secret & Co. by 531.4% during the second quarter. Everett Harris & Co. CA now owns 97,556 shares of the company's stock worth $1,807,000 after buying an additional 82,106 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Victoria's Secret & Co. during the 2nd quarter worth approximately $311,000. Penserra Capital Management LLC bought a new position in Victoria's Secret & Co. during the 2nd quarter worth approximately $783,000. Vestmark Advisory Solutions Inc. grew its holdings in Victoria's Secret & Co. by 219.3% during the second quarter. Vestmark Advisory Solutions Inc. now owns 55,542 shares of the company's stock valued at $1,029,000 after purchasing an additional 38,149 shares during the period. Finally, Bank of Montreal Can increased its stake in Victoria's Secret & Co. by 45.9% in the second quarter. Bank of Montreal Can now owns 28,266 shares of the company's stock valued at $523,000 after purchasing an additional 8,892 shares in the last quarter. 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.