Tremblant Capital Group Raises Stock Position in Victoria's Secret & Co. (NYSE:VSCO)

Tremblant Capital Group grew its position in shares of Victoria's Secret & Co. (NYSE:VSCO - Free Report) by 137.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 550,135 shares of the company's stock after acquiring an additional 318,080 shares during the period. Victoria's Secret & Co. comprises about 2.4% of Tremblant Capital Group's holdings, making the stock its 20th largest holding. Tremblant Capital Group owned about 0.70% of Victoria's Secret & Co. worth $22,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Wyoming grew its stake in shares of Victoria's Secret & Co. by 173.2% in the 4th quarter. State of Wyoming now owns 6,245 shares of the company's stock worth $259,000 after buying an additional 3,959 shares during the last quarter. Shellback Capital LP purchased a new stake in shares of Victoria's Secret & Co. in the 4th quarter worth approximately $3,728,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of Victoria's Secret & Co. in the 4th quarter worth approximately $16,167,000. Point72 Asset Management L.P. purchased a new stake in shares of Victoria's Secret & Co. in the 4th quarter worth approximately $24,940,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Victoria's Secret & Co. in the 4th quarter worth approximately $37,693,000. Hedge funds and other institutional investors own 90.29% of the company's stock.

Insider Buying and Selling

In related news, major shareholder International Pte Ltd Bbrc bought 212,500 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average cost of $16.15 per share, with a total value of $3,431,875.00. Following the acquisition, the insider now owns 10,310,631 shares in the company, valued at $166,516,690.65. This trade represents a 2.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 company insiders.

Analyst Upgrades and Downgrades

VSCO has been the topic of several recent research reports. Telsey Advisory Group cut their price target on Victoria's Secret & Co. from $40.00 to $24.00 and set a "market perform" rating on the stock in a research note on Thursday, March 6th. Cowen restated a "hold" rating on shares of Victoria's Secret & Co. in a research note on Friday, March 7th. 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 note on Wednesday, May 14th. Bank of America cut their target price on Victoria's Secret & Co. from $40.00 to $35.00 and set an "underperform" rating on the stock in a research note on Thursday, January 30th. Finally, Jefferies Financial Group cut their target price on Victoria's Secret & Co. from $42.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.09.

Victoria's Secret & Co. Stock Performance

Shares of NYSE VSCO traded up $0.54 during midday trading on Thursday, hitting $22.78. 1,432,179 shares of the stock traded hands, compared to its average volume of 2,936,124. The firm has a 50-day moving average of $19.22 and a two-hundred day moving average of $29.93. The firm has a market capitalization of $1.79 billion, a P/E ratio of 11.80, a PEG ratio of 1.15 and a beta of 2.25. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17. Victoria's Secret & Co. has a one year low of $13.76 and a one year high of $48.73.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share for the quarter, beating 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 firm had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.10 billion. On average, equities analysts forecast that Victoria's Secret & Co. will post 2.37 EPS for the current fiscal year.

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.