Victoria’s Secret & Co. (NYSE:VSCO) Upgraded to Neutral at JPMorgan Chase & Co.

Victoria’s Secret & Co. (NYSE:VSCO) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $45.00 price target on the stock, up from their prior price target of $29.00. JPMorgan Chase & Co.‘s target price suggests a potential downside of 3.50% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Barclays upgraded Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $23.00 to $25.00 in a research report on Wednesday, September 18th. UBS Group upped their target price on Victoria’s Secret & Co. from $13.00 to $18.00 and gave the company a “sell” rating in a report on Thursday, December 5th. TD Cowen increased their price target on Victoria’s Secret & Co. from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Telsey Advisory Group restated a “market perform” rating and set a $40.00 price objective on shares of Victoria’s Secret & Co. in a report on Friday, December 6th. Finally, BMO Capital Markets raised their target price on shares of Victoria’s Secret & Co. from $33.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Victoria’s Secret & Co. has an average rating of “Hold” and an average price target of $36.73.

Victoria’s Secret & Co. Price Performance

NYSE:VSCO opened at $46.63 on Monday. The company has a quick ratio of 0.31, a current ratio of 1.00 and a debt-to-equity ratio of 2.27. The business’s 50-day moving average price is $33.17 and its 200 day moving average price is $25.12. Victoria’s Secret & Co. has a 52-week low of $15.12 and a 52-week high of $48.70. The firm has a market cap of $3.66 billion, a P/E ratio of 24.16 and a beta of 2.19.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its quarterly earnings data on Thursday, December 5th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.12. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.59%. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the firm posted ($0.86) EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that Victoria’s Secret & Co. will post 2.01 earnings per share for the current fiscal year.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Victoria’s Secret & Co. by 146.1% in the third quarter. FMR LLC now owns 2,757,032 shares of the company’s stock worth $70,856,000 after acquiring an additional 1,636,602 shares during the last quarter. AQR Capital Management LLC grew its stake in Victoria’s Secret & Co. by 102.0% in the second quarter. AQR Capital Management LLC now owns 2,708,766 shares of the company’s stock valued at $47,864,000 after purchasing an additional 1,368,103 shares in the last quarter. Victory Capital Management Inc. increased its position in Victoria’s Secret & Co. by 16.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,858,150 shares of the company’s stock worth $32,834,000 after purchasing an additional 258,059 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Victoria’s Secret & Co. by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,794,221 shares of the company’s stock worth $46,121,000 after purchasing an additional 24,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 76,858 shares during the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

About Victoria’s Secret & Co.

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.