Pershing Square Acquires Nearly 6% Stake in Domino’s Pizza Posted on 11
Pershing Square Capital Management’s Bill Ackman, a Billionaire hedge fund manager, said it now owns a stake of almost 6% in
Domino’s Pizza Inc. (NYSE: DPZ), exchanging it for its previous Starbucks bet.
The CEO of Pershing Square Capital Management says he classifies Domino’s as one of the “super-durable growth companies.” Ackman highlighted the benefits of the restaurant having an inhouse delivery service, as opposed to others that rely on third party services such as DoorDash. He continued on to say that Pershing Square has been prepared to swoop in when Domino’s shares recently plummeted.
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Bill Ackman has taken a stake in another big-name consumer company: Domino’s Pizza Inc. Ackman’s
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Billionaire investor Bill Ackman’s Pershing Square Capital Management has taken a stake in Domino’s Pizza Inc, the pizza chain said on Wednesday.
Ackman, whose bets on companies are closely watched, told the Wall Street Journal in an interview https://www.wsj.com/articles/bill-ackman-ceos-and-artists-headline-wsjs-future-of-everything-festival-11620811806?mod=breakingnews earlier that he had swapped his shares in Starbucks Corp for a little under 6% stake in Domino’s.
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“It’s (Domino’s) a very compelling story and big international growth opportunity … and there’s plenty of room to run both here and abroad,” Ackman said during the Journal’s Future of Everything Festival event.