Sanford Bernstein Analyst On PepsiCo Rumor: 'This Is Not New Thinking About 3G's Strategy'

Speaking to Benzinga, Sanford Bernstein analyst Ali Dibadj said that a rumor coming from The Wall Street Journal that 3G Capital Partners is interested in acquiring food and beverage companies including PepsiCo, Inc. (NYSE: PEP) is not new thinking about 3G’s strategy.

“They could cut significant costs in the business, which is quite global,” he said.

PepsiCo was recently trading at $95.32, up 2.4 percent.

ETFs holding PepsiCo, including the Vanguard Consumer Staples ETF (NYSE: VDC) and the iShares Dow Jones US Consumer Goods (NYSE: IYK), are trading up more than 1 percent.