Activist Investor Bill Ackman Takes $900 Million Stake In Starbucks – Maggie McGrath
Bill Ackman, the activist investor who took on Chipotle in 2016, revealed Tuesday afternoon that he has turned his attention to the biggest coffee chain in the world. Ackman’s hedge fund, Pershing Square Capital, has taken a roughly $900 million stake in Starbucks. Ackman unveiled the 15 million-share position—a roughly 1.1% stake—at Grant’s Interest Rate Observer conference in New York on Tuesday. His core investment thesis is that despite recent struggles in same-store sales and a less-than-stellar stock market performance…..
Read more: https://www.forbes.com/sites/maggiemcgrath/2018/10/09/activist-investor-bill-ackman-takes-900-million-stake-in-starbucks/#40ef194e41fc
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