Billionaire Stephen Mandel’s Portfolio: 3 New Stock Picks

1. Bath & Body Works, Inc. (NASDAQ:BBWI)

Lone Pine Capital’s Stake Value: $1,531,646,000

Percentage of Lone Pine Capital’s 13F Portfolio: 5.16%

Number of Hedge Fund Holders: 56

Bath & Body Works, Inc. (NASDAQ:BBWI) is an Ohio-based retail company selling soaps, lotions, fragrances, and candles. Lone Pine Capital purchased 24.30 million Bath & Body Works, Inc. (NASDAQ:BBWI) shares in the third quarter, worth $1.53 billion, representing 5.16% of the fund’s Q3 investments. 

On November 5, Bath & Body Works, Inc. (NASDAQ:BBWI) declared a quarterly per share dividend of $0.15, which was paid on December 3, to shareholders of record on November 19. 

Bath & Body Works, Inc. (NASDAQ:BBWI) announced on January 6 its earnings guidance for the fourth quarter. The EPS guidance came in at $2.10 to $2.25, versus a consensus of $2.26. 

Deutsche Bank analyst Gabriella Carbone lowered the price target on Bath & Body Works, Inc. (NASDAQ:BBWI) to $85 from $87 and kept a Buy rating on the shares on January 7, since the company reported a “solid” holiday but a “bumpy start to the new year”. 

Among the hedge funds tracked by Insider Monkey in the third quarter of 2021, 56 funds were bullish on Bath & Body Works, Inc. (NASDAQ:BBWI), with stakes amounting to $6.5 billion. This is compared to 53 funds holding stakes worth $6.3 billion in Bath & Body Works, Inc. (NASDAQ:BBWI) in the prior quarter.

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