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.
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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.
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By GlobalDataPepsiCo’s share price was down 1.83% to $63.90 at 12:05 ET today.
Trian Fund Management could not be reached for comment.
