Forest Avenue Capital Management LP Cuts Stake in Victoria's Secret & Co. (NYSE:VSCO)

Forest Avenue Capital Management LP reduced its position in shares of Victoria's Secret & Co. (NYSE:VSCO - Free Report) by 25.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,182,297 shares of the company's stock after selling 407,639 shares during the period. Victoria's Secret & Co. comprises about 4.5% of Forest Avenue Capital Management LP's investment portfolio, making the stock its 12th biggest position. Forest Avenue Capital Management LP owned 1.50% of Victoria's Secret & Co. worth $48,971,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of VSCO. Smartleaf Asset Management LLC boosted its holdings in Victoria's Secret & Co. by 326.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company's stock worth $92,000 after buying an additional 1,682 shares during the last quarter. Pinpoint Asset Management Ltd acquired a new stake in shares of Victoria's Secret & Co. during the fourth quarter worth about $123,000. GAMMA Investing LLC lifted its holdings in shares of Victoria's Secret & Co. by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 3,486 shares of the company's stock valued at $144,000 after purchasing an additional 326 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Victoria's Secret & Co. in the 4th quarter valued at approximately $206,000. Finally, Commonwealth Equity Services LLC bought a new stake in Victoria's Secret & Co. during the 4th quarter worth approximately $218,000. Institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Price Performance

VSCO traded up $0.39 on Friday, hitting $16.01. 2,550,245 shares of the company's stock traded hands, compared to its average volume of 2,917,028. The company's 50 day simple moving average is $21.94 and its 200-day simple moving average is $31.12. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12. Victoria's Secret & Co. has a one year low of $13.76 and a one year high of $48.73. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 8.30, a P/E/G ratio of 1.15 and a beta of 2.26.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last posted 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. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Victoria's Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. As a group, research analysts anticipate that Victoria's Secret & Co. will post 2.37 EPS for the current year.

Insider Activity at Victoria's Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc bought 542,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $17.32 per share, for a total transaction of $9,387,440.00. Following the acquisition, the insider now directly owns 8,695,019 shares of the company's stock, valued at $150,597,729.08. The trade was a 6.65 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have purchased 1,503,973 shares of company stock valued at $26,617,312. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VSCO. The Goldman Sachs Group cut their price objective on shares of Victoria's Secret & Co. from $35.00 to $19.00 and set a "sell" rating on the stock in a research report on Monday, March 10th. Morgan Stanley reduced their price objective on shares of Victoria's Secret & Co. from $38.00 to $23.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. BMO Capital Markets decreased their price objective on Victoria's Secret & Co. from $46.00 to $31.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Telsey Advisory Group dropped their target price on Victoria's Secret & Co. from $40.00 to $24.00 and set a "market perform" rating on the stock in a report on Thursday, March 6th. Finally, Barclays decreased their price target on Victoria's Secret & Co. from $53.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Victoria's Secret & Co. currently has an average rating of "Hold" and an average price target of $30.09.

Victoria's Secret & Co. Company Profile

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.