Market Overview

Family Dollar Shares Rocket Higher As Carl Icahn Shows New Stake


Shares of Family Dollar (NYSE: FDO) have rallied more than $5 in Friday's post-market session following surprising news out of Carl Icahn.

In a 13D filing from the hedge fund manager, Icahn disclosed a brand-new 9.39 percent stake in Family Dollar. The 10.69 million share position now makes Carl Icahn the largest shareholder in the company, behind Chairman and CEO Howard Levine at 9.3 million shares and Nelson Peltz's Trian Fund at 8.36 million shares.

The Item 4 section in Icahn's 13D indicated a belief that shares of Family Dollar are currently "undervalued." The filing said Family Dollar's "current situation is analogous to that recently faced by companies such as CVR Energy, Forest Labs, Chesapeake Energy and Biogen...where [Icahn's] involvement helped to generate tremendous returns for all shareholders."

Family Dollar shares last traded at $66.24, up nearly ten percent from Friday's closing price.

Posted-In: Carl IcahnNews Hedge Funds Top Stories Hot Movers General


Related Articles (FDO)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

California Chrome Attempts Immortality at Belmont

UBS Believes There Is Near-Term Upside For Hewlett-Packard