Pershing Square Capital Management LP Makes Strategic Investment in Nike
Bill Ackman's Fund Sees Growth Potential in Sportswear Giant
Nike's Strong Fundamentals Attract Activist Investor
Shares of Nike (NKE) surged 4.3% to $81.83 in after-hours trading following news that Pershing Square Capital Management LP, led by renowned activist investor Bill Ackman, has acquired a new stake in the company.
Ackman, known for his successful activist campaigns at companies like Canadian Pacific, is bullish on Nike's long-term prospects. Pershing Square now holds approximately 30.4 million shares, or a 1.5% stake in the sportswear giant.
Nike has a proven track record of investing in growth and delivering consistent returns to shareholders. In the past year alone, the company has increased its dividend by 22% and repurchased $1.6 billion worth of shares.
Analysts expect Nike to continue performing well in the coming quarters. The company's strong brand, innovative products, and global reach position it for continued growth in the athletic footwear and apparel market.
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