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

Victoria’s Secret & Co. (NYSE:VSCO) major shareholder International Pte Ltd Bbrc bought 584,000 shares of the stock in a transaction on Friday, March 28th. The stock was purchased at an average price of $18.48 per share, for a total transaction of $10,792,320.00. Following the completion of the purchase, the insider now directly owns 10,098,131 shares in the company, valued at approximately $186,613,460.88. This represents a 6.14 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 stock was purchased at an average cost of $19.47 per share, for a total transaction of $1,657,773.15.
• On Wednesday, March 12th, International Pte Ltd Bbrc acquired 80,328 shares of Victoria’s Secret & Co. stock. The shares were acquired at an average cost of $16.78 per share, with a total value of $1,347,903.84.
• On Monday, March 10th, International Pte Ltd Bbrc bought 542,000 shares of Victoria’s Secret & Co. stock. The stock was acquired at an average price of $17.32 per share, for a total transaction of $9,387,440.00.

Victoria’s Secret & Co. Stock Performance

NYSE VSCO opened at $19.25 on Thursday. The company has a 50-day simple moving average of $26.77 and a two-hundred day simple moving average of $31.98. Victoria’s Secret & Co. has a 12-month low of $15.12 and a 12-month high of $48.73. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 1.15 and a beta of 2.16. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12.

Victoria’s Secret & Co. (NYSE:VSCO) last released its earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, beating 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 company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. On average, equities analysts forecast that Victoria’s Secret & Co. will post 2.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VSCO. Intech Investment Management LLC bought a new stake in Victoria’s Secret & Co. in the 3rd quarter worth $382,000. Charles Schwab Investment Management Inc. grew its stake in shares of Victoria’s Secret & Co. by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,608,466 shares of the company’s stock worth $41,338,000 after purchasing an additional 76,858 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Victoria’s Secret & Co. by 1.0% in the third quarter. The Manufacturers Life Insurance Company now owns 41,989 shares of the company’s stock worth $1,079,000 after purchasing an additional 412 shares during the last quarter. FMR LLC increased its holdings in Victoria’s Secret & Co. by 146.1% during the 3rd quarter. FMR LLC now owns 2,757,032 shares of the company’s stock valued at $70,856,000 after purchasing an additional 1,636,602 shares during the period. Finally, MetLife Investment Management LLC raised its position in Victoria’s Secret & Co. by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 45,652 shares of the company’s stock valued at $1,173,000 after purchasing an additional 25,723 shares during the last quarter. Institutional investors own 90.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Barclays dropped their target price on shares of Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Cowen reissued a “hold” rating on shares of Victoria’s Secret & Co. in a report on Friday, March 7th. Wells Fargo & Company dropped their price objective on shares of Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Finally, Morgan Stanley reduced their target price on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.73.

About Victoria’s Secret & Co.

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.