Primecap Management Co. CA Lowers Stock Position in Victoria’s Secret & Co. (NYSE:VSCO)

Primecap Management Co. CA decreased its holdings in Victoria’s Secret & Co. (NYSE:VSCO) by 93.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,933 shares of the company’s stock after selling 1,654,683 shares during the quarter. Primecap Management Co. CA owned about 0.15% of Victoria’s Secret & Co. worth $4,843,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VSCO. FMR LLC increased its stake in Victoria’s Secret & Co. by 146.1% in the third 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 during the period. Forest Avenue Capital Management LP acquired a new position in Victoria’s Secret & Co. in the 3rd quarter valued at about $40,861,000. Two Sigma Advisers LP raised its stake in Victoria’s Secret & Co. by 172.0% during the 3rd quarter. Two Sigma Advisers LP now owns 503,003 shares of the company’s stock valued at $12,927,000 after acquiring an additional 318,099 shares during the last quarter. Castellan Group acquired a new stake in Victoria’s Secret & Co. during the 3rd quarter worth approximately $6,218,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Victoria’s Secret & Co. in the 4th quarter valued at approximately $7,373,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

Victoria’s Secret & Co. Trading Up 6.3 %

Shares of VSCO stock opened at $21.68 on Thursday. The stock has a market cap of $1.70 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.15 and a beta of 2.16. 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 fifty-two week low of $15.12 and a fifty-two week high of $48.73. The business has a fifty day simple moving average of $30.24 and a 200-day simple moving average of $32.20.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its 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 net margin of 2.47% and a return on equity of 44.74%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. On average, analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VSCO has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Victoria’s Secret & Co. from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Morgan Stanley reduced their target price on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on shares of Victoria’s Secret & Co. from $43.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. UBS Group reduced their price objective on shares of Victoria’s Secret & Co. from $47.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Cowen reiterated a “hold” rating on shares of Victoria’s Secret & Co. in a research report on Friday, March 7th. Two investment 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. According to MarketBeat.com, Victoria’s Secret & Co. currently has an average rating of “Hold” and an average target price of $31.73.

Insider Activity at Victoria’s Secret & Co.

In other news, major shareholder International Pte Ltd Bbrc bought 80,328 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $16.78 per share, with a total value of $1,347,903.84. Following the purchase, the insider now owns 9,255,347 shares of the company’s stock, valued at $155,304,722.66. This trade represents a 0.88 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is 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.