Victoria’s Secret & Co. (NYSE:VSCO) Downgraded to “Underweight” at Morgan Stanley

Morgan Stanley cut shares of Victoria’s Secret & Co. (NYSE:VSCO) from an equal weight rating to an underweight rating in a research report sent to investors on Monday, MarketBeat Ratings reports. Morgan Stanley currently has $15.00 price target on the stock, down from their prior price target of $19.00.

Several other research firms also recently weighed in on VSCO. BMO Capital Markets dropped their target price on shares of Victoria’s Secret & Co. from $29.00 to $26.00 and set an outperform rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group began coverage on shares of Victoria’s Secret & Co. in a research note on Thursday, April 25th. They set a sell rating and a $14.00 price objective for the company. Bank of America reaffirmed an underperform rating and issued a $15.00 target price (down previously from $34.00) on shares of Victoria’s Secret & Co. in a research note on Friday, March 8th. Telsey Advisory Group dropped their price target on Victoria’s Secret & Co. from $29.00 to $20.00 and set a market perform rating for the company in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. restated an underweight rating and issued a $15.00 price objective (down from $22.00) on shares of Victoria’s Secret & Co. in a research report on Thursday, March 7th. Six analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Victoria’s Secret & Co. presently has an average rating of Hold and an average target price of $17.90.

Victoria’s Secret & Co. Price Performance

Shares of NYSE:VSCO opened at $18.61 on Monday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.11 and a beta of 2.05. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.95 and a quick ratio of 0.34. The business’s 50 day simple moving average is $18.91 and its 200-day simple moving average is $22.62. Victoria’s Secret & Co. has a 12 month low of $13.62 and a 12 month high of $30.80.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its earnings results on Wednesday, March 6th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.12. Victoria’s Secret & Co. had a return on equity of 56.40% and a net margin of 1.77%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.09 billion. As a group, equities analysts forecast that Victoria’s Secret & Co. will post 1.67 earnings per share for the current fiscal year.

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

Several large investors have recently added to or reduced their stakes in VSCO. State Board of Administration of Florida Retirement System raised its stake in Victoria’s Secret & Co. by 6.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 84,365 shares of the company’s stock worth $1,635,000 after purchasing an additional 4,851 shares during the period. 12 West Capital Management LP purchased a new position in shares of Victoria’s Secret & Co. in the 1st quarter worth $5,330,000. Illinois Municipal Retirement Fund boosted its holdings in Victoria’s Secret & Co. by 4.8% in the first quarter. Illinois Municipal Retirement Fund now owns 49,295 shares of the company’s stock valued at $955,000 after acquiring an additional 2,238 shares during the last quarter. SG Americas Securities LLC grew its position in Victoria’s Secret & Co. by 47.2% during the first quarter. SG Americas Securities LLC now owns 14,077 shares of the company’s stock valued at $273,000 after acquiring an additional 4,514 shares during the period. Finally, Duality Advisers LP increased its stake in Victoria’s Secret & Co. by 53.9% during the first quarter. Duality Advisers LP now owns 107,763 shares of the company’s stock worth $2,088,000 after acquiring an additional 37,733 shares during the last quarter. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

Victoria’s Secret & Co. Company Profile

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.