PepsiCo stock jumps after Elliott builds $4 billion stake

Investing.com -- PepsiCo (NASDAQ: PEP) stock rose 4% following a Wall Street Journal report that activist investor Elliott Investment Management has acquired a roughly $4 billion stake in the beverage and snacks giant.

According to the report, Elliott plans to push for changes at PepsiCo to boost its lagging share price. The activist fund now ranks among the company’s top five active investors, excluding index funds.

The beverage maker has faced challenges in recent quarters, struggling to win back soda drinkers after losing market share to competitors. Additionally, its food business, which was previously a growth driver, has come under pressure.

While Elliott has established this substantial position in PepsiCo, the specific changes the activist investor plans to advocate for remain unclear, according to the report.

Elliott’s stake in PepsiCo represents one of the activist firm’s largest equity positions ever taken, signaling a potentially significant campaign to influence the company’s strategic direction.

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