JPMorgan Chase & Co. Cuts Victoria’s Secret & Co. (NYSE:VSCO) Price Target to $17.00

Victoria’s Secret & Co. (NYSE:VSCO) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $35.00 to $17.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 3.28% from the company’s current price.

Other analysts have also issued reports about 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 dropped their target price on 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. Barclays cut their target price on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. The Goldman Sachs Group decreased their price objective on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating on the stock in a research note on Monday, March 10th. Finally, Morgan Stanley dropped their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.09.

Victoria’s Secret & Co. Price Performance

NYSE:VSCO traded down $0.63 during mid-day trading on Monday, reaching $16.46. 2,857,627 shares of the company were exchanged, compared to its average volume of 2,914,365. The company has a fifty day moving average of $23.32 and a 200 day moving average of $31.47. Victoria’s Secret & Co. has a 12 month low of $13.76 and a 12 month high of $48.73. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12. The stock has a market cap of $1.29 billion, a PE ratio of 8.53, a PEG ratio of 1.15 and a beta of 2.26.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.30 by $0.30. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. On average, research analysts anticipate that Victoria’s Secret & Co. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder International Pte Ltd Bbrc acquired 212,500 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was acquired at an average price of $16.15 per share, for a total transaction of $3,431,875.00. Following the completion of the acquisition, the insider now owns 10,310,631 shares in the company, valued at $166,516,690.65. This trade represents a 2.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 1,503,973 shares of company stock worth $26,617,312 in the last 90 days. 1.10% of the stock is owned by company insiders.

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

A number of institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Victoria’s Secret & Co. by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,631,150 shares of the company’s stock valued at $67,562,000 after acquiring an additional 22,684 shares during the period. Vanguard Group Inc. grew its position in shares of Victoria’s Secret & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,927,889 shares of the company’s stock valued at $369,793,000 after purchasing an additional 58,981 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Victoria’s Secret & Co. during the 4th quarter valued at approximately $7,373,000. Wakefield Asset Management LLLP purchased a new position in shares of Victoria’s Secret & Co. in the 4th quarter worth $991,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Victoria’s Secret & Co. during the fourth quarter valued at approximately $617,000. Hedge funds and other 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.