Morgan Stanley Cuts Victoria’s Secret & Co. (NYSE:VSCO) Price Target to $40.00

Victoria’s Secret & Co. (NYSE:VSCO) had its price target reduced by stock analysts at Morgan Stanley from $44.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 3.58% from the stock’s previous close.

VSCO has been the subject of several other research reports. Telsey Advisory Group restated a “market perform” rating and set a $40.00 price objective on shares of Victoria’s Secret & Co. in a research report on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of Victoria’s Secret & Co. from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $29.00 to $45.00 in a research report on Monday, December 9th. Jefferies Financial Group increased their price objective on Victoria’s Secret & Co. from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group raised Victoria’s Secret & Co. from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $18.00 to $47.00 in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $45.00 price target (up previously from $33.00) on shares of Victoria’s Secret & Co. in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.55.

Victoria’s Secret & Co. Trading Down 0.3 %

Shares of NYSE:VSCO opened at $38.62 on Tuesday. The company has a 50 day moving average of $40.51 and a 200-day moving average of $29.84. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12. The firm has a market cap of $3.04 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.19 and a beta of 2.14. Victoria’s Secret & Co. has a twelve month low of $15.12 and a twelve month high of $48.73.

Victoria’s Secret & Co. (NYSE:VSCO) last released its earnings results on Thursday, December 5th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.12. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted ($0.86) earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts anticipate that Victoria’s Secret & Co. will post 2.31 earnings per share for the current fiscal year.

Institutional Trading of Victoria’s Secret & Co.

A number of hedge funds have recently made changes to their positions in the stock. Oliver Luxxe Assets LLC acquired a new position in Victoria’s Secret & Co. in the 4th quarter valued at approximately $1,963,000. Nisa Investment Advisors LLC increased its stake in shares of Victoria’s Secret & Co. by 23.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,283 shares of the company’s stock worth $716,000 after acquiring an additional 3,277 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Victoria’s Secret & Co. during the fourth quarter worth $206,000. Ballentine Partners LLC acquired a new stake in Victoria’s Secret & Co. during the fourth quarter valued at $236,000. Finally, Profit Investment Management LLC boosted its position in Victoria’s Secret & Co. by 6.9% during the fourth quarter. Profit Investment Management LLC now owns 63,357 shares of the company’s stock valued at $2,624,000 after purchasing an additional 4,083 shares during the last quarter. 90.29% of the stock is 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.