Pershing Square sells Starbucks stake - Breaking The News

Pershing Square sells Starbucks stake

5 February

1 min read

EPA-EFE/JOHN G. MABANGLO

Pershing Square Capital Management exited its stake at the American coffee company Starbucks Corp. on Wednesday, according to the investor's update slides.

Founder and CEO of Pershing Square Bill Ackman said that the company's investment in the coffee giant returned 73% over 19 months, adding that the prospective returns could "become more modest."

Starbucks' shares traded 0.86% lower at 1:08 pm ET, sliding over 6% in the last six months.

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