5 Stocks to Sell According to Billionaire Daniel Sundheim

2. Bath & Body Works, Inc. (NYSE:BBWI)

Number of Hedge Fund Holders: 56

Bath & Body Works, Inc. (NYSE:BBWI) is a body-care, home fragrance, and other similar products retailer based out of the United States. The company sells its products in North America and globally. Bath & Body Works, Inc. (NYSE:BBWI) raked in $1.68 billion in revenue and $0.92 in non-GAAP EPS for its fiscal Q3, as it pleased investors and beat Wall Street estimates for both. Goldman Sachs set a $93 price target for the company in December 2021.

Mr. Sundheim’s investment firm sold 6.8 million Bath & Body Works, Inc. (NYSE:BBWI) shares during the third quarter of last year. These were worth $491.6 million and had represented 3.21% of its portfolio in the previous quarter. An Insider Monkey Q3 2021 survey of 867 hedge funds revealed that 56 owned the company’s shares.

Bath & Body Works, Inc. (NYSE:BBWI)’s largest investor during Q2 2021 was Stephen Mandel’s Lone Pine Capital who owned 26 million shares worth a whopping $1.8 billion.