1,589,936 Shares in Victoria’s Secret & Co. (NYSE:VSCO) Acquired by Forest Avenue Capital Management LP

Forest Avenue Capital Management LP bought a new position in Victoria’s Secret & Co. (NYSE:VSCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,589,936 shares of the company’s stock, valued at approximately $40,861,000. Victoria’s Secret & Co. comprises about 5.0% of Forest Avenue Capital Management LP’s investment portfolio, making the stock its 8th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in VSCO. Blue Trust Inc. increased its holdings in shares of Victoria’s Secret & Co. by 741.4% during the 3rd quarter. Blue Trust Inc. now owns 1,708 shares of the company’s stock worth $44,000 after purchasing an additional 1,505 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Victoria’s Secret & Co. during the second quarter worth approximately $50,000. Quarry LP boosted its holdings in shares of Victoria’s Secret & Co. by 126.6% in the 2nd quarter. Quarry LP now owns 3,157 shares of the company’s stock worth $56,000 after acquiring an additional 1,764 shares in the last quarter. GAMMA Investing LLC grew its position in Victoria’s Secret & Co. by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,160 shares of the company’s stock worth $81,000 after acquiring an additional 1,652 shares during the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new stake in Victoria’s Secret & Co. during the 3rd quarter valued at $92,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Barclays raised Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $23.00 to $25.00 in a research note on Wednesday, September 18th. Morgan Stanley upped their price target on shares of Victoria’s Secret & Co. from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. TD Cowen raised their price objective on shares of Victoria’s Secret & Co. from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Telsey Advisory Group upped their target price on shares of Victoria’s Secret & Co. from $27.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Victoria’s Secret & Co. from $17.00 to $19.00 and gave the stock a “sell” rating in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.60.

Victoria’s Secret & Co. Stock Performance

Shares of Victoria’s Secret & Co. stock opened at $37.50 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.31 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $2.94 billion, a PE ratio of 21.80 and a beta of 2.10. The stock’s fifty day simple moving average is $29.53 and its 200 day simple moving average is $23.49. Victoria’s Secret & Co. has a 12 month low of $15.12 and a 12 month high of $39.39.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Victoria’s Secret & Co. had a return on equity of 44.06% and a net margin of 2.25%. On average, research analysts predict that Victoria’s Secret & Co. will post 2.01 EPS for the current year.

About Victoria’s Secret & Co.

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.