Nestle Shares: Nestle and Sony Corp

nestle shares: Loeb owns about 40 million shares and some options in Switzerland-based Nestle, according to an investor letter released Sunday after Bloomberg first reported the activist stake, according to The Japan Times. The fund intends to encourage management to pursue change with a greater sense of urgency by selling Nestle's stake in L'Oreal SA, increasing leverage for share buybacks and reviewing its portfolio, among other suggestions. Previously, Third Point has focused much of its recent activism in Japan, where investments have included Seven & I Holdings Co. and Sony Corp. Despite having arguably the best positioned portfolio in the consumer packaged goods industry, Nestle shares have significantly underperformed most of their U.S. and European consumer staples, Third Point wrote in the letter. Nestle owns about 23.2 percent of cosmetics giant L'Oreal, according to data compiled by Bloomberg, a stake with a market value of about 27 billion. It is rare to find a business of Nestle's quality with so many avenues for improvement. (news.financializer.com). As reported in the news.