Fidelity Management & Research Co has recently announced that it has increased stake in Victoria’s Secret & Co. (NYSE:VSCO) by 13.69%. After grabbing 11.34 million shares, the institutional investor is now in possession of 1.37 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 14.03% having worth around $449.63 million. Moreover, BlackRock Fund Advisors increased its share by 1.13 million to have a control over 6.67 million shares. And SSgA Funds Management, Inc. raised its holdings to 65250.0 shares by acquiring 2.38 million shares or 2.94% of the stake.
Victoria’s Secret & Co. (VSCO) concluded trading on 03/15/23 at a closing price of $30.28, with 1.92 million shares of worth about $58.18 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -9.83% during that period and on Wednesday the price saw a loss of about -2.35%. Currently the company’s common shares owned by public are about 81.00M shares, out of which, 72.06M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the VSCO stock and their offered price forecasts bring an average price target of $45.36. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $60.00 and could fall to a lowest price of $27.00. The stock’s current price level is 34.6% above of average price target set by the analysts, while a rise to estimated low would result in loss of -12.15% for the stock. However, touching the estimated high of $60.00 would mean a gain of 49.53% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 39 times over the past 12 months. They bought 277,732 shares in 19 of the transactions. In 20 selling transactions, insiders dumped 690,209 shares.
Fidelity Blue Chip Growth Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Victoria’s Secret & Co. Fidelity Blue Chip Growth Fund is currently holding 2.75 million shares of worth totaling $108.92 million. The company recently came buying 0.3 million shares which brought its stake up to 3.40% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 5748.0 shares, after which its hold over company’s outstanding shares expand to 3.14%, leaving 2.54 million shares with the mutual fund that have a worth of about $100.62 million. Vanguard Total Stock Market Index, after buying 2.24 million shares, have now control over 2.77% of the stake in the company. It holds 21628.0 shares of worth $88.72 million.
Victoria’s Secret & Co. (NYSE: VSCO) started trading at $30.09, below -$0.92 from concluding price of the previous day. However, the stock later moved at a day high price of 30.62, or with a loss of -2.35%. Stock saw a price change of -10.44% in past 5 days and over the past one month there was a price change of -27.49%. Year-to-date (YTD), VSCO shares are showing a performance of -15.37% which decreased to -36.19% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $26.14 but also hit the highest price of $56.23 during that period. The average intraday trading volume for Victoria’s Secret & Co. shares is 1.46 million. The stock is currently trading -18.80% below its 20-day simple moving average (SMA20), while that difference is down -21.17% for SMA50 and it goes to -18.37% lower than SMA200.
Fidelity Management & Research Co acquired 11.34 million shares of Victoria’s Secret & Co. having value of about $449.63 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 1.37 million shares in the company valued at close to $41361389.92, or have control over 13.69% stake in the company. Victoria’s Secret & Co. (NYSE: VSCO) currently have 81.00M outstanding shares and institutions hold larger chunk of about 93.40% of that. Holding of mutual funds in the company is about 44.99% while other institutional holders and individual stake holders have control over 47.14% and 120.15% of the stake respectively.
The stock has a current market capitalization of $2.50B. PE ratio of stock for trailing 12 months is 7.29, while it has posted earnings per share of $4.15 in the same period. It has Quick Ratio of 0.40 while making debt-to-equity ratio of 5.31. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for VSCO, volatility over the week remained 4.64% while standing at 4.44% over the month.
Analysts are in expectations that Victoria’s Secret & Co. (VSCO) stock would likely to be making an EPS of $2.33 in the current quarter, while forecast for next quarter EPS is $0.83 and it is $4.99 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.21 which is $2.5 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.7 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -2.00% while it is estimated to increase by 11.43% in next year.
Analysts at 11 brokerage firms have issued recommendations for the Victoria’s Secret & Co. (VSCO)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 11 Wall Street analysts, 5 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Coverage by JP Morgan stated Victoria’s Secret & Co. (VSCO) stock as a Neutral in their note to investors on December 01, 2022, suggesting a price target of $43 for the stock. On August 01, 2022, Cowen Initiated their recommendations, while on July 13, 2022, Telsey Advisory Group Reiterated their ratings for the stock with a price target of $35. Stock get a Neutral rating from UBS on January 24, 2022.
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