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PepsiCo (PEP) Stock Down as Trian Exits Stake

NEW YORK (TheStreet) -- PepsiCo (PEP - Get Report) stock is falling by 2.10% to $103.87 in late-afternoon trading on Friday, after Nelson Peltz's Trian Fund Management sold its entire 18.3 million share stake in the company during the first quarter, according to a regulatory filing.

The New York-based hedge fund initially invested in PepsiCo in 2013, according to Reuters. It received board representation in early 2015.

Trian also cut its stake in GE to 74.2 million shares, from 77.8 million shares, MarketWatch reports. It boosted its stakes in Bank of New York...