Principal Financial Group Inc. Reduces Holdings in Victoria’s Secret & Co. (NYSE:VSCO)

Principal Financial Group Inc. trimmed its stake in shares of Victoria’s Secret & Co. (NYSE:VSCO) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 369,510 shares of the company’s stock after selling 17,367 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Victoria’s Secret & Co. worth $9,496,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its holdings in shares of Victoria’s Secret & Co. by 146.1% in the 3rd quarter. FMR LLC now owns 2,757,032 shares of the company’s stock valued at $70,856,000 after acquiring an additional 1,636,602 shares in the last quarter. Forest Avenue Capital Management LP purchased a new stake in shares of Victoria’s Secret & Co. in the 3rd quarter valued at $40,861,000. AQR Capital Management LLC grew its stake in shares of Victoria’s Secret & Co. by 102.0% during the second quarter. AQR Capital Management LLC now owns 2,708,766 shares of the company’s stock valued at $47,864,000 after buying an additional 1,368,103 shares during the last quarter. Marshall Wace LLP grew its holdings in Victoria’s Secret & Co. by 1,218.1% in the 2nd quarter. Marshall Wace LLP now owns 618,195 shares of the company’s stock worth $10,924,000 after acquiring an additional 571,295 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp increased its holdings in Victoria’s Secret & Co. by 102.3% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 11,573 shares of the company’s stock valued at $204,000 after purchasing an additional 511,573 shares during the period. 90.29% of the stock is owned by hedge funds and other institutional investors.

Victoria’s Secret & Co. Stock Down 0.9 %

Shares of VSCO opened at $41.89 on Tuesday. The company has a market capitalization of $3.29 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.88 and a beta of 2.19. The company has a current ratio of 1.17, a quick ratio of 0.31 and a debt-to-equity ratio of 3.12. Victoria’s Secret & Co. has a 12-month low of $15.12 and a 12-month high of $48.73. The business’s 50 day moving average is $37.96 and its 200 day moving average is $27.26.

Victoria’s Secret & Co. (NYSE:VSCO) last posted its earnings results on Thursday, December 5th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.12. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the company earned ($0.86) EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect that Victoria’s Secret & Co. will post 2.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays raised shares of Victoria’s Secret & Co. from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $25.00 in a research report on Wednesday, September 18th. Morgan Stanley lifted their price objective on Victoria’s Secret & Co. from $23.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Telsey Advisory Group reiterated a “market perform” rating and issued a $40.00 target price on shares of Victoria’s Secret & Co. in a research note on Friday, December 6th. TD Cowen increased their price objective on Victoria’s Secret & Co. from $35.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $45.00 target price (up previously from $33.00) on shares of Victoria’s Secret & Co. in a report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.73.

About Victoria’s Secret & Co.

Victoria's Secret & Co operates as a specialty retailer of women's intimate, and other apparel and beauty products worldwide. It offers bras, panties, lingerie, casual sleepwear, and athleisure and swim, as well as fragrances and body care; and loungewear, knit tops, activewear, and accessories and beauty under the Victoria's Secret, PINK, and Adore Me brands.