Artemis reports a 4.97 percent stake in Marks & Spencer stock

Published on 10/18/2026 at 13:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

UBS lifted its target from GBp 425 to GBp 465 on October 14, 2026. November 4 first-half results matter for Marks & Spencer stock.

Signals before interim results

Artemis Investment Management LLP held 4.97 percent of voting rights on October 16, 2026.
UBS expects the fashion, home and beauty margin to reach 12.5 percent by fiscal year to March 2029.
Marks & Spencer will publish first-half fiscal 2027 results on November 4, 2026.

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Artemis Investment Management LLP notified Marks & Spencer Group plc on October 16, 2026, that it held 4.97 percent of the retailer's voting rights, equal to 103,506,669 shares, according to Investegate. The disclosure followed UBS's October 14, 2026, increase of its price target from GBp 425 to GBp 465, as reported by Yahoo Finance.

What does the target reset imply?

UBS linked the higher target to online margin potential in fashion, home and beauty. The bank expects that division's margin to reach 10.7 percent by the fiscal year ending March 2029, lifting the overall division margin to 12.5 percent from 11.0 percent, while consensus stood at 11.4 percent.

That forecast puts execution ahead of the next results. UBS expects half-year pre-tax profit of GBP 388 million, against cited consensus of GBP 398 million, with the investor range running from GBP 380 million to GBP 390 million.

Three dated signals for M&S

On October 9, 2026, Morningstar said Marks & Spencer would report first-half fiscal 2027 results on November 4 and hold a Capital Markets Day on November 10. On October 14, 2026, UBS raised its target to GBp 465 from GBp 425. On October 16, 2026, Artemis reported 4.97 percent of voting rights through a regulatory notification.

Which dates come next?

Morningstar identifies November 4, 2026, for first-half fiscal 2027 results and November 10, 2026, for the Capital Markets Day. The first date will test whether the margin recovery outlined by UBS is visible in reported earnings.

Financial base remains substantial

Marks & Spencer's investor page reports fiscal 2025/26 group sales of GBP 14.2 billion, adjusted profit before tax of GBP 671.4 million, free cash flow from operations of GBP 131.3 million, net funds of GBP 338.2 million and adjusted return on capital employed of 12.7 percent. Those figures provide the operating base against which the online-margin targets will be measured, according to Marks & Spencer.

Stock context before results

On the LSE, Marks & Spencer was last quoted at GBp 410.60 on October 16, 2026, at 4:38 p.m. London time. The next catalyst is therefore a reported operating update rather than another target revision.

The further course of trading is shown by the continuously updated real-time quote of Marks & Spencer stock.