Sumitomo Mitsui Trust Group Inc. Trims Position in Vipshop Holdings Limited $VIPS

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Vipshop Holdings Limited (NYSE:VIPS) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 731,834 shares of the technology company’s stock after selling 93,717 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.14% of Vipshop worth $11,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Vipshop by 3,533.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,020,863 shares of the technology company’s stock worth $310,000 after acquiring an additional 1,965,244 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Vipshop during the 1st quarter worth $427,000. Bank of New York Mellon Corp raised its holdings in shares of Vipshop by 4.1% during the 1st quarter. Bank of New York Mellon Corp now owns 560,933 shares of the technology company’s stock worth $8,795,000 after acquiring an additional 22,204 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Vipshop during the 1st quarter worth $27,051,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Vipshop by 12.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 446,034 shares of the technology company’s stock worth $6,994,000 after acquiring an additional 49,632 shares during the period. Hedge funds and other institutional investors own 48.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen raised Vipshop from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Citigroup raised their price objective on Vipshop from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, August 15th. Zacks Research downgraded Vipshop from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 27th. Bank of America cut their price objective on Vipshop from $17.80 to $17.30 and set a “buy” rating for the company in a research report on Friday, July 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Vipshop in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.33.

Vipshop Price Performance

NYSE VIPS opened at $18.32 on Thursday. The company has a market cap of $9.39 billion, a P/E ratio of 9.95, a P/E/G ratio of 2.15 and a beta of 0.71. The stock has a 50-day moving average of $18.39 and a two-hundred day moving average of $16.03. Vipshop Holdings Limited has a 1-year low of $12.14 and a 1-year high of $21.08.

Vipshop Profile

Vipshop Holdings Limited operates online platforms in the People's Republic of China. It operates in Vip.com, Shan Shan Outlets, and Others segments. The company offers womenswear, menswear, sportswear and sporting goods, shoes and bags, accessories, baby and children products, skincare and cosmetics, home goods and other lifestyle products, and supermarket products.