SCHEDULE 13G: FMR LLC and Abigail P. Johnson Disclose 5.1% Passive Stake in Victoria's Secret & Co.

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have disclosed a passive beneficial ownership of 5.1% in Victoria's Secret & Co., totaling 3,988,121.31 common shares as of December 31, 2024.

Summary

• FMR LLC, a Delaware-organized parent holding company, and Abigail P. Johnson, a U.S. citizen, have jointly filed a Schedule 13G indicating beneficial ownership in Victoria's Secret & Co.
• As of December 31, 2024, the aggregate amount beneficially owned by FMR LLC and Abigail P. Johnson is 3,988,121.31 shares of Victoria's Secret & Co. Common Stock.
• This ownership represents 5.1% of the total outstanding class of Victoria's Secret & Co. Common Stock.
• FMR LLC holds sole voting power over 3,848,901.78 shares and sole dispositive power over 3,988,121.31 shares.
• Abigail P. Johnson is deemed to have sole dispositive power over 3,988,121.31 shares due to her control over FMR LLC.
• The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Victoria's Secret & Co.

Sentiment

Score: 6

Explanation: The document is a factual disclosure of ownership, which is generally neutral. However, a significant stake by a reputable institutional investor like FMR LLC can be perceived as a slight positive signal for the company's stability and investment appeal.

Positives

• A significant 5.1% stake by a major institutional investor like FMR LLC can signal confidence in Victoria's Secret & Co.'s long-term prospects.
• The filing explicitly states that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a stable, passive investment.

Risks

• The document does not detail specific operational or financial risks for Victoria's Secret & Co. It is a disclosure of beneficial ownership by an investor.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding Victoria's Secret & Co.'s future performance or outlook. It is a disclosure of current beneficial ownership.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing indicates that a major asset management firm, FMR LLC (parent company of Fidelity Investments), has taken a significant passive stake in Victoria's Secret & Co. Such disclosures are common for large institutional investors who cross the 5% ownership threshold, signaling their investment positions in publicly traded companies within the retail and apparel sector.

Corporate Governance

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by a prominent institutional investor like FMR LLC may be viewed positively, potentially increasing investor confidence and signaling institutional interest in the company.

Key Dates

Keywords

Victoria's Secret & Co, FMR LLC, Abigail P. Johnson, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, Retail, Apparel