Bill Ackman is Seeing Big Returns with Nike Investment
Author By Sophia VidaPosted on It was not too long ago that Wall Street learned that activist investor Bill Ackman’s Pershing Square Holdings took a passive stake in sport apparel company Nike.
It seems his position in the stock is already paying off.
The hedge fund manager provided an investor presentation that offered an update on his investment and called Nike a “high quality business.”
According to Ackman, the company should see strong revenue growth and margin expansion.
He noted in his presentation, “NKE’s share price including dividends has increased 29% from our average cost to January 19, 2018.”
The stock contributed 0.8% to the hedge fund’s performance last year.
It has not been disclosed how big the company’s position is in Nike, however it will be in mid February that the hedge fund will have to report its long equity holdings in a regulatory filing.
Disclaimer: We have no position in Nike Inc. (NYSE: NKE) and have not been compensated for this article.
