Morgan Stanley Cuts Victoria’s Secret & Co. (NYSE:VSCO) Price Target to $23.00

Victoria’s Secret & Co. (NYSE:VSCO) had its target price reduced by stock analysts at Morgan Stanley from $38.00 to $23.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 20.42% from the stock’s current price.

Several other research firms also recently issued reports on VSCO. UBS Group lowered their price objective on Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. BMO Capital Markets dropped their price objective on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price target on Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday. TD Cowen increased their price target 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 raised Victoria’s Secret & Co. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $51.00 to $53.00 in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.55.

Victoria’s Secret & Co. Price Performance

Shares of NYSE VSCO traded down $1.28 during trading on Friday, reaching $19.10. The company had a trading volume of 4,553,007 shares, compared to its average volume of 2,455,949. The business’s 50 day moving average price is $34.22 and its 200-day moving average price is $32.48. The stock has a market cap of $1.50 billion, a PE ratio of 9.85, a PEG ratio of 1.15 and a beta of 2.16. Victoria’s Secret & Co. has a 52 week low of $15.12 and a 52 week 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.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its quarterly 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 analysts’ expectations of $2.10 billion. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. Analysts expect that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Institutional Trading of Victoria’s Secret & Co.

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Victoria’s Secret & Co. by 10.3% during the fourth quarter. GAMMA Investing LLC now owns 3,486 shares of the company’s stock worth $144,000 after acquiring an additional 326 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Victoria’s Secret & Co. by 1.0% during the third quarter. The Manufacturers Life Insurance Company now owns 41,989 shares of the company’s stock worth $1,079,000 after buying an additional 412 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in Victoria’s Secret & Co. by 6.5% during the fourth quarter. Picton Mahoney Asset Management now owns 7,782 shares of the company’s stock worth $322,000 after buying an additional 477 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Victoria’s Secret & Co. by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,211 shares of the company’s stock valued at $340,000 after purchasing an additional 522 shares during the period. Finally, Mariner LLC increased its holdings in shares of Victoria’s Secret & Co. by 3.0% during the 4th quarter. Mariner LLC now owns 19,307 shares of the company’s stock worth $800,000 after buying an additional 569 shares during the last quarter. 90.29% of the stock is owned by institutional investors and hedge funds.

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.