Billionaire Stephen Mandel’s Portfolio: 3 New Stock Picks

In this article, we discuss 3 new stock picks of billionaire Stephen Mandel. If you want our detailed analysis of these stocks, go directly to Billionaire Stephen Mandel’s Portfolio: 8 New Stock Picks. 

3. Victoria’s Secret & Co. (NYSE:VSCO)

Lone Pine Capital’s Stake Value: $475,763,000

Percentage of Lone Pine Capital’s 13F Portfolio: 1.60%

Number of Hedge Fund Holders: 37

Lone Pine Capital purchased 8.60 million Victoria’s Secret & Co. (NYSE:VSCO) shares as of Q3 2021, worth $475.76 million, representing 1.60% of the fund’s 13F securities. Victoria’s Secret & Co. (NYSE:VSCO) is an American beauty, fashion, and clothing retailer. 

On December 29, Victoria’s Secret & Co. (NYSE:VSCO) entered an accelerated share repurchase agreement worth $250 million with Goldman Sachs. The company also highlighted its Q4 outlook, announcing an EPS of $2.35 to $2.65, whereas the consensus EPS came in at $2.63. Victoria’s Secret & Co. (NYSE:VSCO)’s revenue is expected to equal $2.10 billion to $2.163 billion, whereas revenue estimates were $2.14 billion. 

BofA analyst Lorraine Hutchinson on December 30 reiterated a Buy rating with an $85 price target on Victoria’s Secret & Co. (NYSE:VSCO) after the company announced an accelerated share repurchase agreement and reaffirmed its Q4 guidance. The analyst thinks that continued strong execution and accelerated capital returns will boost Victoria’s Secret & Co. (NYSE:VSCO)’s shares. 

Windacre Partnership is one of the leading Victoria’s Secret & Co. (NYSE:VSCO) shareholders from Q3 2021, with 6.18 million shares worth $341.9 million. Overall, 37 hedge funds were bullish on the stock in the third quarter.