Corebridge Financial Inc. Trims Holdings in Victoria’s Secret & Co. (NYSE:VSCO)

Corebridge Financial Inc. cut its position in shares of Victoria’s Secret & Co. (NYSE:VSCO) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,788 shares of the company’s stock after selling 3,254 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Victoria’s Secret & Co. worth $1,731,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Virtus Fund Advisers LLC acquired a new position in Victoria’s Secret & Co. in the third quarter valued at $27,000. Smartleaf Asset Management LLC increased its stake in shares of Victoria’s Secret & Co. by 326.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,197 shares of the company’s stock valued at $92,000 after acquiring an additional 1,682 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Victoria’s Secret & Co. by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 3,486 shares of the company’s stock worth $144,000 after acquiring an additional 326 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of Victoria’s Secret & Co. in the fourth quarter worth approximately $206,000. Finally, Amundi grew its holdings in Victoria’s Secret & Co. by 61.0% in the fourth quarter. Amundi now owns 5,549 shares of the company’s stock valued at $214,000 after purchasing an additional 2,103 shares during the period. Institutional investors and hedge funds own 90.29% of the company’s stock.

Insider Transactions at Victoria’s Secret & Co.

In other Victoria’s Secret & Co. news, major shareholder International Pte Ltd Bbrc acquired 542,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $17.32 per share, for a total transaction of $9,387,440.00. Following the purchase, the insider now directly owns 8,695,019 shares in the company, valued at $150,597,729.08. This trade represents a 6.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 1,291,473 shares of company stock valued at $23,185,437. 1.10% of the stock is currently owned by insiders.

Victoria’s Secret & Co. Stock Up 4.8 %

Shares of NYSE:VSCO opened at $19.25 on Thursday. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 1.15 and a beta of 2.16. The company has a 50 day moving average of $26.77 and a two-hundred day moving average of $31.98. Victoria’s Secret & Co. has a 52-week low of $15.12 and a 52-week high of $48.73. 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. (NYSE:VSCO) last released its quarterly 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 firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Victoria’s Secret & Co. had a net margin of 2.47% and a return on equity of 44.74%. As a group, analysts forecast that Victoria’s Secret & Co. will post 2.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VSCO. TD Cowen increased their price target on shares of Victoria’s Secret & Co. from $35.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Cowen reiterated 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 note on Friday, March 7th. Wells Fargo & Company reduced their price objective on 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, The Goldman Sachs Group dropped their target price on shares of Victoria’s Secret & Co. from $35.00 to $19.00 and set a “sell” rating for the company in a research report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.73.

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.