Peltz fund no longer owns PepsiCo shares: report

Peltz fund no longer owns PepsiCo shares: report

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(Global Markets) - Activist investor Nelson Peltz's Trian Fund no longer owns shares in PepsiCo Inc (PEP.N), cable television network CNBC reported on Thursday, and the company's shares fell more than 2 percent.

Earlier this week, Trian Fund Management LP disclosed in a regulatory filing that it held 2.36 million shares in the soft drink and snack company as of September 30.

The shares jumped 3 percent the following day, as investors hoped Peltz's move would usher in a shake-up to the company, where Chief Executive Indra Nooyi is under pressure from many on Wall Street to split it up or make other big changes.

A CNBC anchor reported on his Twitter feed on Thursday that Peltz owned the shares only "for a short-term 'trade,'" citing unnamed sources.

"Assuming the report is accurate, we consider it negative," Stifel Nicolaus analyst Mark Swartzberg said in a research note. "Trian's lack of involvement means the absence of a proven and influential agent of corporate change, in our opinion."

There was no new filing with the U.S. Securities Exchange Commission to reflect any change in Trian's stake in PepsiCo. A spokeswoman for Trian Fund did not immediately return calls seeking a comment.

PepsiCo shares were down 2.3 percent at $63.62 on Thursday afternoon on the New York Stock Exchange.

(Reporting by Martinne Geller and Phil Wahba in New York, editing by Gerald E. McCormick and Matthew Lewis)