Ackman's Pershing Square Boosts Target (TGT) Stake to 9.97%

In an amended 13D filing on Target (NYSE: TGT), William Ackman's Pershing Square disclosed a 9.97% stake (82,797,200 shares) in the company. This is up from the 9.6% stake (81,761,411 shares) the firm held in a past filing.

Much of Ackman's position in held through call options, exercisable through dates ranging from October 2, 2008 to April 6, 2009.

Pershing Square noted that their representatives have met and may in the future meet with Target's management to engage in discussions that may include matters relating to the strategy, business, assets, operations, capital structure and/or financial condition in an effort to enhance shareholder value.