Victoria’s Secret & Co. (NYSE:VSCO) Sets New 12-Month High on Analyst Upgrade

Victoria’s Secret & Co. (NYSE:VSCO)’s share price reached a new 52-week high during mid-day trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $30.00 to $40.00. Jefferies Financial Group currently has a buy rating on the stock. Victoria’s Secret & Co. traded as high as $37.39 and last traded at $37.20, with a volume of 274169 shares changing hands. The stock had previously closed at $34.97.

Other equities research analysts also recently issued reports about the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $27.00 price objective on shares of Victoria’s Secret & Co. in a research note on Thursday, October 17th. Barclays raised shares of Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $23.00 to $25.00 in a report on Wednesday, September 18th. Bank of America upped their price target on shares of Victoria’s Secret & Co. from $18.00 to $21.00 and gave the company an “underperform” rating in a report on Friday, August 30th. The Goldman Sachs Group increased their target price on shares of Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Friday, August 30th. Finally, TD Cowen increased their target price on shares of Victoria’s Secret & Co. from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.30.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its position in 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 buying an additional 1,636,602 shares in the last quarter. AQR Capital Management LLC grew its position in Victoria’s Secret & Co. by 102.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,708,766 shares of the company’s stock valued at $47,864,000 after buying an additional 1,368,103 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Victoria’s Secret & Co. by 16.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,858,150 shares of the company’s stock valued at $32,834,000 after purchasing an additional 258,059 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Victoria’s Secret & Co. by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,608,466 shares of the company’s stock valued at $41,338,000 after purchasing an additional 76,858 shares in the last quarter. Finally, Forest Avenue Capital Management LP bought a new position in shares of Victoria’s Secret & Co. during the 3rd quarter valued at about $40,861,000. Institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Stock Performance

The company has a current ratio of 1.00, a quick ratio of 0.31 and a debt-to-equity ratio of 2.27. The company’s 50-day moving average price is $27.37 and its two-hundred day moving average price is $22.41. The company has a market cap of $2.82 billion, a P/E ratio of 20.90 and a beta of 2.10.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. Victoria’s Secret & Co. had a net margin of 2.25% and a return on equity of 44.06%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. As a group, equities analysts forecast that Victoria’s Secret & Co. will post 1.96 earnings per share for the current year.

Victoria’s Secret & Co. Company Profile

Victoria's Secret & Co operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. It offers bras, panties, lingerie, casual sleepwear, and athleisure and swim, as well as fragrances and body care; and loungewear, knit tops, activewear, and accessories and beauty under the Victoria's Secret, PINK, and Adore Me brands.