Insider Buying: Victoria's Secret & Co. (NYSE:VSCO) Major Shareholder Acquires 584,000 Shares of Stock

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) major shareholder International Pte Ltd Bbrc acquired 584,000 shares of Victoria's Secret & Co. stock in a transaction that occurred on Friday, March 28th. The shares were bought at an average price of $18.48 per share, with a total value of $10,792,320.00. Following the transaction, the insider now directly owns 10,098,131 shares in the company, valued at approximately $186,613,460.88. This trade represents a 6.14 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

International Pte Ltd Bbrc also recently made the following trade(s):

• On Thursday, April 3rd, International Pte Ltd Bbrc acquired 212,500 shares of Victoria's Secret & Co. stock. The stock was purchased at an average cost of $16.15 per share, for a total transaction of $3,431,875.00.
• On Wednesday, March 26th, International Pte Ltd Bbrc bought 85,145 shares of Victoria's Secret & Co. stock. The stock was purchased at an average price of $19.47 per share, with a total value of $1,657,773.15.
• On Wednesday, March 12th, International Pte Ltd Bbrc purchased 80,328 shares of Victoria's Secret & Co. stock. The shares were acquired at an average cost of $16.78 per share, for a total transaction of $1,347,903.84.
• On Monday, March 10th, International Pte Ltd Bbrc bought 542,000 shares of Victoria's Secret & Co. stock. The stock was acquired at an average price of $17.32 per share, for a total transaction of $9,387,440.00.

Victoria's Secret & Co. Trading Up 13.2 %

Shares of NYSE:VSCO traded up $1.96 during midday trading on Friday, reaching $16.83. The company had a trading volume of 11,263,088 shares, compared to its average volume of 2,858,291. The company has a fifty day simple moving average of $25.88 and a two-hundred day simple moving average of $31.87. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 1.15 and a beta of 2.26. Victoria's Secret & Co. has a 1-year low of $13.76 and a 1-year high of $48.73. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17.

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Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.30. The business had revenue of $2.11 billion for 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%. Research analysts predict that Victoria's Secret & Co. will post 2.37 earnings per share for the current year.

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

Several hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of Victoria's Secret & Co. by 146.1% in the 3rd quarter. FMR LLC now owns 2,757,032 shares of the company's stock valued at $70,856,000 after purchasing an additional 1,636,602 shares during the period. Marshall Wace LLP lifted its position in Victoria's Secret & Co. by 481.5% in the 4th quarter. Marshall Wace LLP now owns 1,956,760 shares of the company's stock worth $81,049,000 after buying an additional 1,620,256 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Victoria's Secret & Co. during the 4th quarter valued at $37,693,000. SRS Investment Management LLC purchased a new position in shares of Victoria's Secret & Co. during the 4th quarter valued at $37,011,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Victoria's Secret & Co. in the fourth quarter worth $24,940,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays decreased their price target on Victoria's Secret & Co. from $53.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Wells Fargo & Company lowered their target price on shares of Victoria's Secret & Co. from $40.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. BMO Capital Markets reduced their price target on shares of Victoria's Secret & Co. from $46.00 to $31.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Bank of America decreased their price objective on shares of Victoria's Secret & Co. from $40.00 to $35.00 and set an "underperform" rating for the company in a report on Thursday, January 30th. Finally, Morgan Stanley dropped their target price on 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. Two research 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. According to MarketBeat, Victoria's Secret & Co. has a consensus rating of "Hold" and an average target price of $31.73.

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.