Tamer Soliman
PepsiCo (NASDAQ:PEP) may be a possible target of activist investors amid some recent 13F filings.
A 13F filing from Japan’s Nomura on Thursday indicated that the brokerage had acquired more than 4 million shares during Q2. Nomura is a noteworthy because it’s viewed as a counterparty for activist swap positions.
The Nomura position comes after Mizuho showed a new position in PepsiCo (NASDAQ:PEP) a couple weeks ago, Gordon Haskett’s Don Bilson highlighted in a note on Friday. In addition, Barclays bought a “pretty big slug” in Q2, according to a 13F filing earlier this week, which showed a 3.3 share addition during the quarter.
It’s not clear what an activist might be looking to do with PepsiCo (PEP), though they may want the company to split up or maybe the board may need an overhaul, Bilson speculated.
Shares of PepsiCo (PEP) rose 1.4% on Friday. The stock has dropped 13% over the past year, while Coca-Cola has gained 2.3%.
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