Pershing Square hedge fund manager Bill Ackman is up at the Ira Sohn conference, and has just revealed a new bullish position in Family Dollar.
The stock does not appear in his latest 13-F.
The stock is already jumping on the news, currently rising over 2% after hours.
While he says it’s not beautiful, they have room to grow, great return on capital, and he joked that according to Marc Faber, even he’d be shopping there soon.
The stock closed at $54, but he thinks it could be worth $92, as he says the management is playing catch up and has a ton of room to improve productivity.
Meanwhile, the shareholder base is improving, noting that John Paulson has a stake.
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