Nelson Peltz Sells Some H.J. Heinz (HNZ) ~ market folly

Friday, March 2, 2012

Nelson Peltz Sells Some H.J. Heinz (HNZ)

Trian Fund Management's Nelson Peltz has filed a slew of Form 4's with the SEC regarding his stake in H.J. Heinz (HNZ). Between February 24th and 28th, Peltz has sold 209,200 HNZ shares. He's reduced his position size by almost 20%.

The bulk of his share sales came at a price of $53.5713, though he also sold at $53.0968 just three days ago. HNZ currently trades around that level, at $52.98. As of February 28th, Peltz now owns 837,884 shares of Heinz.

Per Google Finance, Heinz "together with its subsidiaries is engaged in manufacturing and marketing a range of food products throughout the world. The Company’s principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other food products. The Company’s products are manufactured and packaged to provide safe, wholesome foods for consumers, as well as foodservice and institutional customers."

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