SRS Investment Management LLC Makes New $37.01 Million Investment in Victoria's Secret & Co. (NYSE:VSCO)

SRS Investment Management LLC acquired a new stake in shares of Victoria's Secret & Co. (NYSE:VSCO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 893,542 shares of the company's stock, valued at approximately $37,011,000. Victoria's Secret & Co. accounts for approximately 0.5% of SRS Investment Management LLC's investment portfolio, making the stock its 14th biggest position. SRS Investment Management LLC owned 1.14% of Victoria's Secret & Co. as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Victoria's Secret & Co. by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,631,150 shares of the company's stock valued at $67,562,000 after purchasing an additional 22,684 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Victoria's Secret & Co. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,927,889 shares of the company's stock valued at $369,793,000 after buying an additional 58,981 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Victoria's Secret & Co. in the fourth quarter valued at approximately $7,373,000. Wakefield Asset Management LLLP acquired a new position in shares of Victoria's Secret & Co. in the fourth quarter valued at approximately $991,000. Finally, FMR LLC boosted 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 valued at $165,188,000 after buying an additional 1,231,090 shares during the period. Institutional investors and hedge funds own 90.29% of the company's stock.

Victoria's Secret & Co. Stock Performance

Shares of NYSE:VSCO traded down $0.04 during trading on Friday, reaching $18.53. 2,772,966 shares of the stock were exchanged, compared to its average volume of 2,949,840. Victoria's Secret & Co. has a 12 month low of $13.76 and a 12 month high of $48.73. The firm has a market cap of $1.46 billion, a PE ratio of 9.60, a PEG ratio of 1.15 and a beta of 2.26. The stock has a 50-day moving average price of $20.15 and a 200-day moving average price of $30.91. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 3.12.

Victoria's Secret & Co. (NYSE:VSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.30. The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.10 billion. Victoria's Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. Research analysts expect that Victoria's Secret & Co. will post 2.37 EPS for the current fiscal year.

Insider Activity at Victoria's Secret & Co.

In other Victoria's Secret & Co. news, major shareholder International Pte Ltd Bbrc bought 80,328 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $16.78 per share, for a total transaction of $1,347,903.84. Following the completion of the purchase, the insider now directly owns 9,255,347 shares of the company's stock, valued at approximately $155,304,722.66. This trade represents a 0.88 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders purchased 1,503,973 shares of company stock worth $26,617,312. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VSCO shares. Telsey Advisory Group reduced their price target on shares of Victoria's Secret & Co. from $40.00 to $24.00 and set a "market perform" rating for the company in a report on Thursday, March 6th. Barclays reduced their price target on shares of Victoria's Secret & Co. from $53.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, March 7th. The Goldman Sachs Group reduced their target price on shares of Victoria's Secret & Co. from $19.00 to $15.00 and set a "sell" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lowered their price target on shares of Victoria's Secret & Co. from $40.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 6th. Finally, Cowen restated a "hold" rating on shares of Victoria's Secret & Co. in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.73.

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.