On July 31, 2023, FMR LLC (Trades, Portfolio), a renowned investment firm, executed a significant transaction involving Victoria's Secret & Co (VSCO, Financial). The firm reduced its holdings in the specialty retailer by 4,685,909 shares, a change of -43.96%. This article will delve into the details of this transaction, provide an overview of both FMR LLC (Trades, Portfolio) and Victoria's Secret & Co, and analyze the potential implications of this move for value investors.
Details of the Transaction
The transaction took place on July 31, 2023, with FMR LLC (Trades, Portfolio) reducing its stake in Victoria's Secret & Co. The shares were traded at a price of $20.49 each. Following the transaction, FMR LLC (Trades, Portfolio)'s total holdings in Victoria's Secret & Co amounted to 5,974,544 shares, representing 0.01% of their portfolio and 7.74% of the company's total shares. The transaction had a -0.01% impact on FMR LLC (Trades, Portfolio)'s portfolio.
Profile of FMR LLC (Trades, Portfolio)
FMR LLC (Trades, Portfolio), also known as Fidelity, was founded in 1946 by Edward C. Johnson II. The firm has a rich history of taking risks and investing in stocks with growth potential. Fidelity's investment philosophy is centered on promoting trailblazing individuals and basing its growth on constant innovation and research. As of the date of this article, Fidelity holds 5049 stocks, with a total equity of $1,090.64 trillion. The firm's top holdings include Apple Inc (AAPL, Financial), Amazon.com Inc (AMZN, Financial), Meta Platforms Inc (META, Financial), Microsoft Corp (MSFT, Financial), and NVIDIA Corp (NVDA, Financial). The technology and healthcare sectors dominate Fidelity's portfolio.
Overview of Victoria's Secret & Co
Victoria's Secret & Co, listed under the symbol VSCO, is a specialty retailer of lingerie, pajamas, and beauty products. The company operates in a single segment and serves customers globally through its stores and online platforms. As of the date of this article, Victoria's Secret & Co has a market capitalization of $1.53 billion. The company's stock price stands at $19.82, with a PE ratio of 6.14. However, due to insufficient data, the GF Value and GF Value Rank of the stock cannot be evaluated. The company's financial strength and profitability rank are both 4/10, while its growth rank is 0/10. The company's Piotroski F-Score is 5, and its Altman Z score is 2.00.
Comparison with Other Gurus
Other notable gurus who hold shares in Victoria's Secret & Co include Joel Greenblatt (Trades, Portfolio). However, the firm with the most significant stake in Victoria's Secret & Co is Keeley-Teton Advisors, LLC (Trades, Portfolio).
Analysis of the Transaction
The decision by FMR LLC (Trades, Portfolio) to reduce its stake in Victoria's Secret & Co could be attributed to various factors, including the company's financial performance and market conditions. The transaction may have a minimal impact on FMR LLC (Trades, Portfolio)'s portfolio due to its small size relative to the firm's total holdings. However, the move could influence Victoria's Secret & Co's stock price, especially if other investors interpret it as a lack of confidence in the company's prospects.
Conclusion
In conclusion, FMR LLC (Trades, Portfolio)'s recent transaction involving Victoria's Secret & Co represents a noteworthy development for value investors. While the impact on FMR LLC (Trades, Portfolio)'s portfolio is minimal, the move could have implications for Victoria's Secret & Co's stock price. As always, investors are advised to conduct thorough research and consider various factors before making investment decisions.
