By Reuters Staff
(The author is a Reuters Breakingviews columnist. The opinions expressed are their own.)
A pizza comes out of the oven at Domino s Pizza restaurant in Los Angeles, July 18, 2018. REUTERS/Lucy Nicholson
NEW YORK (Reuters Breakingviews) - Concise insights on global finance. -
TASTY SLICE. Domino’s Pizza has delivered, and Bill Ackman wants a reorder. The hedge fund manager revealed on Wednesday here that his fund, Pershing Square Capital Management, has taken a 6% stake in the Michigan-based pie maker, touting its delivery infrastructure. Breakingviews saw Domino s potential back in late 2017 here and again last year.
Had Ackman invested on the earlier of those two occasions, the holding would have already returned twice as much as the S&P 500 Index and more than the technology-focused Nasdaq Composite Index, too. That’s without the special shareholder-activist sauce he sometimes adds, of course. Over the same period, Chipotle Mexica
Was Bill Ackman right in selling Starbucks stock and buying Domino’s Pizza stock?
May 21, 2021
Activist investor Bill Ackman revealed that he sold Starbucks stock in favor of Domino’s Pizza stock
Starbucks stock roughly doubled from its 2020 lows and peaked at $118.98 in April
Domino’s stock on the other hand is up just 10% over the past one year period which implies room for growth
Billionaire hedge fund investor Bill Ackman revealed on Wednesday that his fund Pershing Square Capital Management sold out its stake in multinational Coffeehouse Starbucks (NASDAQ:SBUX) in favor of a 6% stake in the global restaurant chain Domino’s Pizza (NYSE:DPZ).
The fight is on for lower-wage workers. Some of the biggest U.S. employers of entry-level workers are adding tens of thousands of new positions as the economy roars back from the coronavirus pandemic. Many are raising wages or adding perks to entice workers away from other jobs or off the sidelines of the labor market. Amazon.com Inc. said Thursday that it would hire 75,000 more workers and offer $1,000 signing bonuses in some locations, its latest hiring spree in a year of tremendous job growth at the e-commerce giant. McDonald s Corp. said that it wants to hire 10,000 employees at company-owned restaurants in the next three months and that it would raise pay at those locations. Chipotle Mexican Grill Inc., Applebee s and KFC are among other chains seeking to hire tens of thousands of workers as they reopen dining rooms and seek to bolster staffing there.