Victoria’s Secret & Co. (NYSE:VSCO) Shares Up 6.5% After Insider Buying Activity

Victoria’s Secret & Co. (NYSE:VSCO) shares rose 6.5% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $17.28 and last traded at $17.30. Approximately 3,277,173 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 2,850,160 shares. The stock had previously closed at $16.25.

Specifically, major shareholder International Pte Ltd Bbrc bought 542,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $17.32 per share, for a total transaction of $9,387,440.00. Following the acquisition, the insider now owns 8,695,019 shares in the company, valued at $150,597,729.08. This represents a 6.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Cowen reaffirmed a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. Wells Fargo & Company lowered their price target on shares of Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Morgan Stanley cut their price objective on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. TD Cowen upped their price objective on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Barclays dropped their target price on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.73.

Victoria’s Secret & Co. Trading Up 5.1 %

The company has a market cap of $1.46 billion, a P/E ratio of 9.61, a P/E/G ratio of 1.15 and a beta of 2.16. The business has a fifty day simple moving average of $31.81 and a 200 day simple moving average of $32.25. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Analysts anticipate that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Virtus Fund Advisers LLC acquired a new stake in Victoria’s Secret & Co. during the third quarter worth about $27,000. CoreCap Advisors LLC boosted its stake in Victoria’s Secret & Co. by 1,898.1% in the fourth quarter. CoreCap Advisors LLC now owns 2,058 shares of the company’s stock valued at $85,000 after acquiring an additional 1,955 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Victoria’s Secret & Co. by 326.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company’s stock valued at $92,000 after purchasing an additional 1,682 shares during the last quarter. Canada Pension Plan Investment Board raised its position 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 worth $104,000 after purchasing an additional 800 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Victoria’s Secret & Co. in the 4th quarter worth approximately $112,000. 90.29% of the stock is owned by institutional investors and hedge funds.

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.