US: Peltz's Trian Fund "offloads PepsiCo shares"
Nelson Peltz's Trian Fund Management investment fund reportedly no longer owns shares in PepsiCo.
Trian announced the purchase of US$146m of PepsiCo stock in a filing on Tuesday (15 November), adding to speculation that the company may look at splitting its snacks and drinks divisions. Peltz purchased 2.36m shares, representing 0.15% of PepsiCo's outstanding shares.
However, US television network CNBC reported on its Twitter feed today that Peltz had sold the stock. "Nelson Peltz no longer owns shares of PepsiCo - Peltz had just purchased PEP shares for a trade," it wrote.
Speculation has grown in recent weeks that PepsiCo could follow fellow US food maker Kraft Foods and split itself in two.
A number of Wall Street analysts have argued that a split would improve the value of PepsiCo's shares and there have been claims that some of the company's investors agree.
Meanwhile, The New York Post reported yesterday that a bloc of PepsiCo directors were pushing for the company's board to examine the idea of a split. Chairman and CEO Indra Nooyi is reported to be against the notion of a split and The New York Post reported that the PepsiCo chief could be set to announce two major acquisitions that could bolster the company's share price.
PepsiCo's share price was down 1.83% to $63.90 at 12:05 ET today.
Trian Fund Management could not be reached for comment.
PepsiCo was never going to win many prizes for its first-quarter showing, but management is keen to show that its mammoth restructuring plan is a case of 'so far, so good'....
The American Beverage Association (ABA) has launched a fightback against adverts linking soft drinks to obesity with a campaign highlighting the healthier options the industry is offering. ...
PepsiCo has been forced to withdraw 277 Tropicana Kids Orange Juice multi-packs in the UK due to contamination....
- Are we kidding ourselves over craft spirits?
- What's behind Brown-Forman's Irish whiskey plans?
- Is Brown-Forman doing a Jack Daniel's in Ireland?
- How good a sustainability fit are ABI and SAB?
- The new Johnnie Walker ad and today's consumers
- Diageo, Treasury Wine Estates quiet on wine sale
- Chandon to become "third pillar brand" for MH
- Brown-Forman silent on Southern Comfort report
- Stoli appoints international marketing director
- Moet Hennessy hails Formula One deal for Chandon
- The IWSR Duty Free/Travel Retail Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research