Pantry, Inc.: SAC Capital Discloses 5.3% Stake

In a 13G filing on Pantry Inc. (PTRY), SAC Capital and related funds disclosed a 5.3% stake (1.2 million shares) in the company. This is up from the 166K share stake the firm disclosed for the quarter ended September 30, 2006.

Headquartered in Sanford, North Carolina, The Pantry, Inc. is the leading independently operated convenience store chain in the southeastern United States and one of the largest independently operated convenience store chains in the country.

Run by Steven A. Cohen, SAC Capital is one of the world's largest and most powerful hedge funds.

Comments

[Dan Jacome:]

They are also buying into PTMK, PSUN, BBW, and most recently, PALM. PALM looks like an interesting bet b/c chart-wise, it looks like PALM has bottomed after coming off a head and shoulders. RIMM, we think, is now a short term buy, too, since it found support and has crossed back above key moving averages.

DJ
Kelley School of Business

2007 Feb 04 11:25 AM