Although Pepsico management has been adamant that the company won't break-up, Street chatter suggests otherwise.

The talk was largely triggered after a recent 13F filing showed billionaire Nelson Peltz had bought Pepsi stock. Published reports suggested the activist investor planned to agitate for a spin-off of Pepsi's beverage and snack division.

The speculation made sense because Peltz' Trian fund built up a significant stake in Kraft a few months before that company announced a split.

Is the report right? Could the same thing could happen at PepsiCo?

”It is possible. Peltz knows the industry well," says Karen Finerman. "But I’m not sure it's likely. I just done see how it creates value.”