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Big Adjustments to Billionaire Nelson Peltz’s Consumer Staples Holdings During Q4

Trian Fund Management sold 3.79 million shares of Mondelez International Inc. (NASDAQ:MDLZ) in the December quarter, reducing its position to 44.23 million shares valued at $1.96 billion at the end of December. On the other hand, Ken Griffin’s Citadel Advisors grew bullish on the snack giant during that time, buying 1.86 million shares to increase its position to 1.93 million according to its latest 13F filing. Shares of Mondelez International Inc. (NASDAQ:MDLZ) have been trading in a narrow range over the last year and are currently trading near the bottom of their yearly range at $42.50. The stock performance has remained tepid in 2017, falling by 4%. The uncertainty caused by the election of Donald Trump has contributed towards the poor performance. The company said that political turmoil including a backlash against globalization has caused disruption and uncertainty for its global business. As per our database, the number of funds long Mondelez International Inc. (NASDAQ:MDLZ) increased by ten to 63 in the fourth quarter, while the value of their holdings declined by almost 3% to $5.74 billion.

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In E I Du Pont De Nemours And Co (NYSE:DD), Trian reduced its holding to 14.83 million shares valued at $1.09 billion, by selling 2.62 million shares. Other funds sharing the same sentiment as Trian Management included Glenview Capital Management, OZ Management and Arrowstreet Capital. E I Du Pont De Nemours And Co (NYSE:DD) and Dow Chemical Co (NYSE:DOW) are on track to win EU approval for a proposed merger and create a company with a market value in excess of $135 billion. E I Du Pont De Nemours And Co (NYSE:DD) reported fourth quarter revenue of $5.21 billion, a decline of 2% quarter-over-quarter, as growth in its performance materials, electronics & communications, and industrial biosciences segments was offset by a decline in its agriculture segment. For the first quarter of 2017, the company is expecting operating earnings to increase by 8% year-over-year, driven by cost savings and a change in seed delivery timing.

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Procter & Gamble Corporation (NYSE:PG) was a new addition to Trian’s portfolio as the fund bought 6.42 million shares worth $539 million as of December 31. Israel Englander’s Millennium Management, on the other hand, sold off its entire stake of 72.58 million shares in the stock during the same period. Procter & Gamble Corporation (NYSE:PG) has a big competitive moat, as it owns some of the best-known global consumer brands such as Olay, Old Spice, Pantene, and Charmin. Shares of PG have climbed by 8% in 2017, as the company reported better-than-expected quarterly results for its second quarter of fiscal 2017. Adjusted earnings of $1.08 per share beat analysts’ expectations of $1.06, though revenue of $16.86 billion narrowly missed the consensus of $16.94 billion. Procter & Gamble Corporation (NYSE:PG) recently announced that it was starting a $10 billion cost-cutting program. That follows the company rolling out a $1.2 billion annual cost cutting plan in 2012, which led to total savings of $7.2 billion over the next five years. Overall hedge fund sentiment in the stock was negative during the final quarter of last year, as 56 funds owned its shares, down from 71 funds at the end of September.

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Disclosure: None

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