Envestnet Asset Management Inc. Boosts Stake in Victoria’s Secret & Co. (NYSE:VSCO)

Envestnet Asset Management Inc. raised its position in shares of Victoria’s Secret & Co. (NYSE:VSCO) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,187 shares of the company’s stock after buying an additional 1,198 shares during the period. Envestnet Asset Management Inc.’s holdings in Victoria’s Secret & Co. were worth $753,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Victoria’s Secret & Co. by 10.3% in 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 in the last quarter. Oliver Luxxe Assets LLC acquired a new stake in shares of Victoria’s Secret & Co. in the 4th quarter valued at $1,963,000. Wedmont Private Capital acquired a new stake in shares of Victoria’s Secret & Co. during the 4th quarter worth about $263,000. Profit Investment Management LLC boosted its holdings in Victoria’s Secret & Co. by 6.9% in the fourth quarter. Profit Investment Management LLC now owns 63,357 shares of the company’s stock valued at $2,624,000 after purchasing an additional 4,083 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Victoria’s Secret & Co. during the fourth quarter worth approximately $236,000. Institutional investors and hedge funds own 90.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VSCO. Morgan Stanley cut their price target on shares of Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. BMO Capital Markets lowered their price objective on shares of Victoria’s Secret & Co. from $46.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. dropped their price objective on shares of Victoria’s Secret & Co. from $35.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Barclays decreased their price objective on shares of Victoria’s Secret & Co. from $53.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of Victoria’s Secret & Co. from $19.00 to $15.00 and set a “sell” rating on the stock in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.55.

Insider Activity

In related news, major shareholder International Pte Ltd Bbrc purchased 584,000 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was acquired at an average price of $18.48 per share, for a total transaction of $10,792,320.00. Following the completion of the purchase, the insider now owns 10,098,131 shares in the company, valued at approximately $186,613,460.88. This represents a 6.14 % 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 the SEC website. Insiders have bought 1,503,973 shares of company stock worth $26,617,312 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Victoria’s Secret & Co. Stock Up 1.9 %

Shares of NYSE:VSCO opened at $19.56 on Friday. The stock’s 50-day moving average price is $19.17 and its two-hundred day moving average price is $30.60. 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. has a 12-month low of $13.76 and a 12-month high of $48.73. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.15 and a beta of 2.26.

Victoria’s Secret & Co. (NYSE:VSCO) last issued its earnings results 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 business 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%. On average, research analysts forecast that Victoria’s Secret & Co. will post 2.37 EPS for the current 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.