Silvercrest Asset Management Group LLC Invests $16.17 Million in Victoria’s Secret & Co. (NYSE:VSCO)

Silvercrest Asset Management Group LLC bought a new position in Victoria’s Secret & Co. (NYSE:VSCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 390,330 shares of the company’s stock, valued at approximately $16,167,000.

Several other hedge funds have also recently modified their holdings of VSCO. Marshall Wace LLP lifted its holdings in shares of Victoria’s Secret & Co. by 481.5% in the fourth quarter. Marshall Wace LLP now owns 1,956,760 shares of the company’s stock worth $81,049,000 after buying an additional 1,620,256 shares in the last quarter. FMR LLC lifted its holdings in shares of Victoria’s Secret & Co. by 44.7% in the fourth quarter. FMR LLC now owns 3,988,122 shares of the company’s stock worth $165,188,000 after buying an additional 1,231,090 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Victoria’s Secret & Co. in the fourth quarter worth $37,693,000. SRS Investment Management LLC bought a new stake in Victoria’s Secret & Co. in the fourth quarter worth $37,011,000. Finally, Point72 Asset Management L.P. bought a new stake in Victoria’s Secret & Co. in the fourth quarter worth $24,940,000. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Victoria’s Secret & Co. Trading Up 1.6%

VSCO stock opened at $23.56 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.17 and a debt-to-equity ratio of 3.12. Victoria’s Secret & Co. has a twelve month low of $13.76 and a twelve month high of $48.73. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.15 and a beta of 2.25. The firm’s fifty day simple moving average is $18.91 and its two-hundred day simple moving average is $30.09.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.30. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations 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, analysts anticipate that Victoria’s Secret & Co. will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VSCO has been the topic of several research reports. Barclays reduced their price target on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company restated an “underweight” rating and issued a $15.00 price target (up previously from $12.00) on shares of Victoria’s Secret & Co. in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Victoria’s Secret & Co. from $35.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Cowen restated a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. Finally, The Goldman Sachs Group reduced their price target on shares of Victoria’s Secret & Co. from $19.00 to $15.00 and set a “sell” rating on the stock in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.09.

Insider Transactions at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc purchased 212,500 shares of the business’s stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $16.15 per share, for a total transaction of $3,431,875.00. Following the completion of the acquisition, the insider now owns 10,310,631 shares in the company, valued at approximately $166,516,690.65. This trade represents a 2.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 1,503,973 shares of company stock worth $26,617,312. Insiders own 1.10% of the company’s stock.

About Victoria’s Secret & Co.

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.