Ackman Doubles Down On Family Dollar And The Stock Soars

bill ackman

At the Ira Sohn conference in May, Pershing Square’s Bill Ackman revealed a new position in Family Dollar, with had not previously appeared in his latest 13-F.

The hedge fund was holding 5.8 million shares of the company, worth about 4.7% worth about $305 million.

Now Ackman has boosted his stake to 8.9%, according to Reuters.

Pershing Square now owns 10.87 million shares, worth about $571.4 million based on the price of the stock at yesterday’s close.

The stock jumped on the news and closed that day at about $54; Ackman thinks it could be worth $92, as he says the management is playing catch up and has a ton of room to improve productivity.

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