Polymer Capital Management HK LTD Makes New Investment in Victoria’s Secret & Co. (NYSE:VSCO)

Polymer Capital Management HK LTD purchased a new position in shares of Victoria’s Secret & Co. (NYSE:VSCO) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 21,100 shares of the company’s stock, valued at approximately $874,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Victoria’s Secret & Co. by 1.4% in 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 last quarter. Vanguard Group Inc. boosted its holdings in shares of Victoria’s Secret & Co. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,927,889 shares of the company’s stock valued at $369,793,000 after acquiring an additional 58,981 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Victoria’s Secret & Co. during the 4th quarter worth about $7,373,000. Wakefield Asset Management LLLP acquired a new stake in Victoria’s Secret & Co. during the fourth quarter worth about $991,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Victoria’s Secret & Co. during the 4th quarter worth approximately $617,000. 90.29% of the stock is currently owned by institutional investors.

Insider Transactions at Victoria’s Secret & Co.

In related news, major shareholder International Pte Ltd Bbrc purchased 80,328 shares of Victoria’s Secret & Co. stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $16.78 per share, with a total value of $1,347,903.84. Following the transaction, the insider now 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought a total of 1,503,973 shares of company stock worth $26,617,312 in the last three months. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on VSCO shares. 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 research report on Monday, March 10th. Cowen reaffirmed a “hold” rating on shares of Victoria’s Secret & Co. in a report on Friday, March 7th. Morgan Stanley dropped their price target on Victoria’s Secret & Co. from $38.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Telsey Advisory Group cut their price objective on shares of Victoria’s Secret & Co. from $40.00 to $24.00 and set a “market perform” rating for the company in a research report on Thursday, March 6th. Finally, BMO Capital Markets cut their target price on 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. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.73.

Victoria’s Secret & Co. Trading Up 13.2 %

Shares of VSCO stock opened at $16.83 on Monday. Victoria’s Secret & Co. has a twelve month low of $13.76 and a twelve month high of $48.73. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 1.15 and a beta of 2.26. The firm has a 50-day moving average price of $25.88 and a 200 day moving average price of $31.91. 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) last released its earnings results on Wednesday, March 5th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.30. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. Research analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share 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.