Forest Avenue Capital Management LP Buys New Position in Victoria’s Secret & Co. (NYSE:VSCO)

Forest Avenue Capital Management LP purchased a new position in shares of Victoria’s Secret & Co. (NYSE:VSCO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,589,936 shares of the company’s stock, valued at approximately $40,861,000. Victoria’s Secret & Co. makes up approximately 5.0% of Forest Avenue Capital Management LP’s portfolio, making the stock its 8th largest position. Forest Avenue Capital Management LP owned approximately 2.02% of Victoria’s Secret & Co. at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Victoria’s Secret & Co. by 146.1% in the 3rd quarter. FMR LLC now owns 2,757,032 shares of the company’s stock valued at $70,856,000 after purchasing an additional 1,636,602 shares in the last quarter. AQR Capital Management LLC raised its holdings in Victoria’s Secret & Co. by 102.0% in the second quarter. AQR Capital Management LLC now owns 2,708,766 shares of the company’s stock valued at $47,864,000 after acquiring an additional 1,368,103 shares in the last quarter. Marshall Wace LLP boosted its stake in Victoria’s Secret & Co. by 1,218.1% during the 2nd quarter. Marshall Wace LLP now owns 618,195 shares of the company’s stock valued at $10,924,000 after acquiring an additional 571,295 shares during the last quarter. Lombard Odier Asset Management USA Corp grew its holdings in Victoria’s Secret & Co. by 102.3% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 11,573 shares of the company’s stock worth $204,000 after acquiring an additional 511,573 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Victoria’s Secret & Co. by 16.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,858,150 shares of the company’s stock worth $32,834,000 after purchasing an additional 258,059 shares during the last quarter. Hedge funds and other institutional investors own 90.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on VSCO shares. The Goldman Sachs Group increased their price target 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. TD Cowen lifted their target price on Victoria’s Secret & Co. from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Wells Fargo & Company raised their price objective on Victoria’s Secret & Co. from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley boosted their target price on shares of Victoria’s Secret & Co. from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Barclays raised shares of Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $23.00 to $25.00 in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Victoria’s Secret & Co. currently has a consensus rating of “Hold” and a consensus price target of $27.60.

Victoria’s Secret & Co. Stock Up 0.3 %

Victoria’s Secret & Co. stock opened at $37.50 on Wednesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.31 and a current ratio of 1.00. Victoria’s Secret & Co. has a one year low of $15.12 and a one year high of $39.39. The company has a 50-day simple moving average of $29.53 and a 200-day simple moving average of $23.49. The firm has a market capitalization of $2.94 billion, a P/E ratio of 21.80 and a beta of 2.10.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its earnings results on Wednesday, August 28th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Victoria’s Secret & Co. had a net margin of 2.25% and a return on equity of 44.06%. As a group, equities analysts expect that Victoria’s Secret & Co. will post 2.01 earnings per share 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.