Most Recent Articles In Financial
Latest Financial Articles
- Europe’s Markets Fall
- Richemont Shares Dip on Disappointing April Sales
- Department, Apparel Stores Cope With Tough Q1
More Articles By
Activist investor William Ackman on Monday reported that he has a 9.6 percent stake in Target Inc., and indicated in a regulatory filing that he intends to start talks with the retailer’s management about increasing shareholder value.
Ackman’s stake is through his hedge fund, Pershing Square Capital Management LP, and related entities.
Shares of Target traded down 1.8 percent to $68.89 in mid-morning trading.
The stock has traded heavily over the past week on speculation that Ackman’s firm might take a stake in Target and lobby the retailer to sell its profitable credit card business. On Friday, shares increased more than 6 percent.
For complete coverage, see tomorrow’s issue of WWD.