Victoria’s Secret & Co. (NYSE:VSCO) Major Shareholder International Pte Ltd Bbrc Acquires 584,000 Shares

Victoria’s Secret & Co. (NYSE:VSCO) major shareholder International Pte Ltd Bbrc bought 584,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average price of $18.48 per share, with a total value of $10,792,320.00. Following the purchase, the insider now owns 10,098,131 shares of the company’s stock, valued at approximately $186,613,460.88. This represents a 6.14 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Wednesday, March 26th, International Pte Ltd Bbrc purchased 85,145 shares of Victoria’s Secret & Co. stock. The shares were acquired at an average cost of $19.47 per share, with a total value of $1,657,773.15.
• On Wednesday, March 12th, International Pte Ltd Bbrc acquired 80,328 shares of Victoria’s Secret & Co. stock. The stock was acquired at an average price 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 shares were acquired at an average cost of $17.32 per share, for a total transaction of $9,387,440.00.

Victoria’s Secret & Co. Stock Performance

VSCO traded down $0.31 during trading on Tuesday, reaching $18.27. The company’s stock had a trading volume of 3,547,865 shares, compared to its average volume of 2,782,515. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17. The company’s fifty day moving average price is $27.57 and its 200-day moving average price is $32.11. Victoria’s Secret & Co. has a 52-week low of $15.12 and a 52-week high of $48.73. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 1.15 and a beta of 2.16.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.30. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. On average, equities analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

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

Hedge funds have recently bought and sold shares of the company. FMR LLC grew its stake 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 acquiring an additional 1,636,602 shares during the last quarter. Marshall Wace LLP grew its position in shares of Victoria’s Secret & Co. by 481.5% in the fourth quarter. Marshall Wace LLP now owns 1,956,760 shares of the company’s stock valued at $81,049,000 after purchasing an additional 1,620,256 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Victoria’s Secret & Co. during the 4th quarter worth approximately $37,693,000. SRS Investment Management LLC acquired a new position in shares of Victoria’s Secret & Co. during the 4th quarter worth approximately $37,011,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Victoria’s Secret & Co. during the 4th quarter worth approximately $24,940,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on VSCO. BMO Capital Markets dropped their price target on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, March 6th. UBS Group dropped their target price on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Bank of America reduced their price target on shares of Victoria’s Secret & Co. from $40.00 to $35.00 and set an “underperform” rating for the company in a research report on Thursday, January 30th. Barclays dropped their price objective on Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, The Goldman Sachs Group reduced their target price on Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating for the company in a report on Monday, March 10th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.