Victoria's Secret & Co. (NYSE:VSCO) Shares Gap Up Following Insider Buying Activity

Shares of Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $17.18, but opened at $17.85. Victoria's Secret & Co. shares last traded at $17.33, with a volume of 548,357 shares.

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

Analyst Ratings Changes

VSCO has been the topic of a number of research analyst reports. Barclays cut 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 note on Friday, March 7th. Telsey Advisory Group lowered their target price on shares of Victoria's Secret & Co. from $40.00 to $24.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company decreased their price target on shares of Victoria's Secret & Co. from $40.00 to $25.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Morgan Stanley cut 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 research report on Friday, March 7th. Finally, TD Cowen upped their target price on shares of Victoria's Secret & Co. from $35.00 to $45.00 and gave the stock a "hold" rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Victoria's Secret & Co. has an average rating of "Hold" and a consensus price target of $31.73.

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Victoria's Secret & Co. Trading Up 8.3 %

The company has a market capitalization of $1.58 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.15 and a beta of 2.16. The stock's 50 day moving average is $31.34 and its 200-day moving average is $32.32. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.17 and a quick ratio of 0.33.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.30. Victoria's Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. As a group, equities research analysts anticipate that Victoria's Secret & Co. will post 2.37 earnings per share for the current year.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake 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. FMR LLC grew its holdings in shares of Victoria's Secret & Co. by 44.7% during the fourth quarter. FMR LLC now owns 3,988,122 shares of the company's stock valued at $165,188,000 after buying an additional 1,231,090 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Victoria's Secret & Co. by 7.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,056,206 shares of the company's stock valued at $85,168,000 after buying an additional 137,074 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Victoria's Secret & Co. by 8.4% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,035,460 shares of the company's stock valued at $84,309,000 after buying an additional 156,979 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Victoria's Secret & Co. by 481.5% during the fourth quarter. Marshall Wace LLP now owns 1,956,760 shares of the company's stock valued at $81,049,000 after buying an additional 1,620,256 shares during the last quarter. Institutional investors own 90.29% of the company's stock.

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.