61 documents showing 1–60
CarMax Inc. KMX
CarMax's omnichannel flywheel is intact but stalled; new CEO Keith Barr can unlock value by fixing digital conversion, reconditioning costs, dynamic pricing, and SG&A discipline.
Lamb Weston Holdings, Inc. LW
Lamb Weston's recovery is real but insufficient; doubling cost cuts to $500M, targeting 4.5% SG&A, and divesting APAC can restore 25% EBITDA margins at a 6.7x multiple.
Tripadvisor, Inc. TRIP
Tripadvisor trades at 6.5x EBITDA, half its peers, because investors still view it as a controlled legacy Tripadvisor.com — sell TheFork, fix Viator margins, revitalize the brand, or take the $18-19/share bid.
PepsiCo Inc. PEP
Elliott argues a refocused PepsiCo — refranchising PBNA bottling, realigning PFNA's cost base, divesting non-core assets and setting new targets — can re-rate to peers and deliver 50%+ upside.
Peloton Interactive PTON
Peloton's overlooked subscription business — 68% gross margins, 1.5% churn — can deliver $400-500M EBITDA once costs are right-sized, implying a $7.50-$31.50 share price versus $5.48 today.
Kenvue Inc. KVUE
Kenvue is an iconic consumer-health portfolio underperforming its potential — fixing margins and Skin Health & Beauty execution can close a wide valuation gap to Haleon and staples peers.
eBay Inc. EBAY
eBay is deeply undervalued; separating Classifieds at peer-level ~22x EBITDA multiples and enforcing a more aggressive Marketplace cost and revenue plan would unlock substantial upside versus today's 8.1x multiple.
Dollar Tree, Inc. DLTR
Dollar Tree is deeply undervalued because Family Dollar is a failed acquisition and the $1 price ceiling is a self-imposed cap; selling Family Dollar and testing multi-price points unlocks $150/share.
Campbell Soup Company CPB
Campbell's incumbent board delivered 19% TSR vs 306% S&P over 20 years; replace the entire board with Third Point's Independent Slate to unlock $52-58/share via turnaround, breakup, or sale.
Nestlé S.A. NESN
Nestlé has been too slow to adapt to a changing consumer industry; adopting a #NestléNOW mindset — sharper strategy, bolder portfolio divestitures including the L'Oréal stake, and a three-division split — can double EPS by 2022.
Newell Brands Inc. NWL
Newell's board destroyed $10bn and handed control to Icahn; elect Starboard's four independent nominees to execute a credible divestiture plan and restore accountability.
Newell Brands Inc. NWL
Newell's Board is dysfunctional — four directors have quit and margins have cratered to 9.1%; elect Starboard's slate at the 2018 Annual Meeting to drive an operational turnaround.
Newell Brands Inc. NWL
Starboard, backed by Jarden's founders, seeks to replace Newell's board after CEO Michael Polk destroyed $11bn of value following the 2016 Jarden merger.
Deckers Outdoor Corporation DECK
Deckers' board missed every margin target and wasted $600m on retail bloat and Sanuk; replacing them enables UGG focus, non-core divestitures and a doubling to $135-158.
The Procter & Gamble Company PG
P&G's long-tenured Board has rewarded a decade of market-share loss and bottom-quartile EPS growth; electing Nelson Peltz adds the shareholder voice needed to fix innovation, productivity, M&A and governance.
Nestlé NESN
Nestlé's world-class brand portfolio masks decade-long underperformance; new CEO Schneider must adopt margin and leverage targets, reshape the portfolio, and monetize L'Oréal to drive EPS to CHF 5-6 by 2020.
Buffalo Wild Wings BWLD
Sally Smith-led BWLD has underperformed peers, mismanaged margins, and wasted capital buying back franchise stores; replacing the board and refranchising to 90% unlocks a higher multiple.
Buffalo Wild Wings BWLD
Buffalo Wild Wings should reverse course on low-return franchisee buy-ins, refranchise to 90% by 2020, recapitalize, and fix incentives — unlocking ~180% upside to ~$402.
Outerwall Inc. OUTR
Outerwall's cash-rich Redbox/Coinstar business trades at a 3x EBITDA capital-allocation discount; halting buybacks for a large dividend and running a sale process unlocks 150%+ upside.
H.J. Heinz Company HNZ
Retrospective of Trian's 2006 Heinz campaign: a 13D white paper and proxy-won board seats drove brand reinvestment and cost discipline, delivering 178% TSR versus 40% for the S&P 500.
Darden Restaurants DRI
Darden, the largest full-service restaurant company, trails peers on margins and total return; an operational fix, REIT spin, and SRG separation can unlock substantial value.
Darden Restaurants, Inc. DRI
Darden's Board destroyed value by selling Red Lobster for ~1x EBITDA against shareholder will; replacing 12 directors unlocks a real estate spin, cost-cut turnaround, and peer-catchup upside.
Sotheby's BID
Sotheby's sits on $1bn+ of excess capital while insiders own 0.8%; Third Point's slate brings aligned ownership to drive capital return, cost discipline, and higher ROE.
Sotheby's BID
Sotheby's Board has presided over a 42% EPS collapse despite global wealth tailwinds; electing Third Point's three nominees can restore owner perspective and more than double pro-forma EPS.
Darden Restaurants, Inc. DRI
Darden's rushed Red Lobster spin is the wrong deal at the wrong time — it traps ~$850M of real estate value and blocks a $1-2B REIT unlock; shareholders must call a Special Meeting to stop it.