SRS Investment Management LLC Takes $37.01 Million Position in Victoria's Secret & Co. (NYSE:VSCO)

SRS Investment Management LLC bought a new position in Victoria's Secret & Co. (NYSE:VSCO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 893,542 shares of the company's stock, valued at approximately $37,011,000. Victoria's Secret & Co. accounts for about 0.5% of SRS Investment Management LLC's portfolio, making the stock its 14th biggest position. SRS Investment Management LLC owned about 1.14% of Victoria's Secret & Co. at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Victoria's Secret & Co. by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,631,150 shares of the company's stock worth $67,562,000 after acquiring an additional 22,684 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Victoria's Secret & Co. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,927,889 shares of the company's stock valued at $369,793,000 after purchasing an additional 58,981 shares during the period. Raymond James Financial Inc. acquired a new stake in Victoria's Secret & Co. in the 4th quarter worth $7,373,000. Wakefield Asset Management LLLP bought a new position in shares of Victoria's Secret & Co. during the 4th quarter worth about $991,000. Finally, FMR LLC increased its holdings in shares of Victoria's Secret & Co. by 44.7% during the 4th quarter. FMR LLC now owns 3,988,122 shares of the company's stock worth $165,188,000 after purchasing an additional 1,231,090 shares during the period. Institutional investors and hedge funds own 90.29% of the company's stock.

Insider Activity

In related news, major shareholder International Pte Ltd Bbrc purchased 542,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $17.32 per share, with a total value of $9,387,440.00. Following the completion of the purchase, the insider now directly owns 8,695,019 shares of the company's stock, valued at $150,597,729.08. This trade represents a 6.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders acquired 1,503,973 shares of company stock worth $26,617,312. 1.10% of the stock is owned by corporate insiders.

Victoria's Secret & Co. Price Performance

NYSE:VSCO traded down $0.04 on Friday, reaching $18.53. The stock had a trading volume of 2,772,966 shares, compared to its average volume of 2,942,627. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $1.46 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 1.15 and a beta of 2.26. Victoria's Secret & Co. has a 1-year low of $13.76 and a 1-year high of $48.73. The stock has a fifty day moving average price of $20.15 and a 200-day moving average price of $30.83.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Research analysts forecast that Victoria's Secret & Co. will post 2.37 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Victoria's Secret & Co. from $35.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Telsey Advisory Group decreased their price objective 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. BMO Capital Markets lowered their price objective on Victoria's Secret & Co. from $46.00 to $31.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Bank of America reduced their target price on Victoria's Secret & Co. from $40.00 to $35.00 and set an "underperform" rating for the company in a research report on Thursday, January 30th. Finally, Barclays decreased their price target on shares of Victoria's Secret & Co. from $53.00 to $38.00 and set an "overweight" rating on the stock 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 given a buy rating to the company's stock. According to data from MarketBeat, Victoria's Secret & Co. presently has a consensus rating of "Hold" and a consensus price target of $29.73.

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.