Activist investor Nelson Peltz's Trian Fund has taken a 2.36 million-share stake in PepsiCo Inc , where CEO Indra Nooyi is under pressure from many on Wall Street to split up the company or make other big changes.PepsiCo shares rose 2.5 percent in morning trade on Tuesday, as investors hoped the move by Peltz would bring about positive changes.Peltz is known for corporate activism in the food and beverage sector and in the past has taken stakes in and pushed for changes at H. J. Heinz , Kraft Foods Inc , Wendy's , and other companies."Given Mr. Peltz's involvement, we think odds have gone up that intrinsic value is unlocked," said Stifel Nicolaus analyst Mark Swartzberg in a research note.
Kraft Foods Inc. (Kraft Foods) manufactures and markets packaged food products, including biscuits, confectionery, beverages, cheese, convenient meals and various packaged grocery products. Shares of KFT traded higher by 0.32% or $0.1118/share to $35.54. In the past year, the shares have traded as low as $29.80 and as high as $36.30. On average, 10255800 shares of KFT exchange hands on a given day and today's volume is recorded at 3805073.
PepsiCo, Inc. is a global food, snack and beverage company. Shares of PEP traded higher by 3.22% or $2.02/share to $64.82. In the past year, the shares have traded as low as $59.25 and as high as $71.89. On average, 9407150 shares of PEP exchange hands on a given day and today's volume is recorded at 10783194.
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