Forest Avenue Capital Management LP Trims Stock Holdings in Victoria's Secret & Co. (NYSE:VSCO)

Forest Avenue Capital Management LP lowered its position in shares of Victoria's Secret & Co. (NYSE:VSCO - Free Report) by 25.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,182,297 shares of the company's stock after selling 407,639 shares during the period. Victoria's Secret & Co. comprises about 4.5% of Forest Avenue Capital Management LP's holdings, making the stock its 12th largest position. Forest Avenue Capital Management LP owned 1.50% of Victoria's Secret & Co. worth $48,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of Victoria's Secret & Co. by 326.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company's stock valued at $92,000 after buying an additional 1,682 shares during the period. Pinpoint Asset Management Ltd purchased a new stake in shares of Victoria's Secret & Co. during the 4th quarter valued at about $123,000. GAMMA Investing LLC raised its stake in shares of Victoria's Secret & Co. by 10.3% during the fourth quarter. GAMMA Investing LLC now owns 3,486 shares of the company's stock valued at $144,000 after purchasing an additional 326 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Victoria's Secret & Co. in the 4th quarter worth $206,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Victoria's Secret & Co. in the fourth quarter worth about $218,000. Hedge funds and other institutional investors own 90.29% of the company's stock.

Victoria's Secret & Co. Stock Performance

NYSE:VSCO traded up $0.39 during mid-day trading on Friday, hitting $16.01. The stock had a trading volume of 2,550,245 shares, compared to its average volume of 2,919,760. 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 twelve month low of $13.76 and a twelve month high of $48.73. The company's 50 day simple moving average is $21.61 and its 200 day simple moving average is $31.06. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 1.15 and a beta of 2.26.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last released 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. Victoria's Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. On average, equities research analysts forecast that Victoria's Secret & Co. will post 2.37 earnings per share for the current year.

Analyst Ratings Changes

VSCO has been the subject of a number of research reports. Bank of America decreased their price target on Victoria's Secret & Co. from $40.00 to $35.00 and set an "underperform" rating for the company in a research note on Thursday, January 30th. BMO Capital Markets reduced their target price on shares of Victoria's Secret & Co. from $46.00 to $31.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Barclays decreased their price target on Victoria's Secret & Co. from $53.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. The Goldman Sachs Group dropped their target price on Victoria's Secret & Co. from $35.00 to $19.00 and set a "sell" rating on the stock in a report on Monday, March 10th. Finally, Wells Fargo & Company cut their price target on shares of Victoria's Secret & Co. from $40.00 to $25.00 and set an "equal weight" rating for the company in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Victoria's Secret & Co. currently has a consensus rating of "Hold" and a consensus target price of $30.09.

Insider Activity

In related news, major shareholder International Pte Ltd Bbrc bought 80,328 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $16.78 per share, for a total transaction of $1,347,903.84. Following the transaction, the insider now directly owns 9,255,347 shares of the company's stock, valued at approximately $155,304,722.66. The trade was a 0.88 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have bought 1,503,973 shares of company stock valued at $26,617,312. 1.10% of the stock is currently owned by corporate insiders.

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.