Peltz bought a stake of about 1 percent in November last year and said the company needed to implement cost cuts and other measures to boost its stock price, targeting 78 euros ($99.49) by the end of 2014.

By the close on Monday the shares stood at about 57.44 euros.

French newpaper Le Journal du Dimanche reported on Sunday that Peltz had sold his stake in Danone, generating a gain of 30 million euros ($39.6 million).

Both Danone and Trian Fund Management, Peltz's U.S. investment vehicle, declined to comment on Monday.

(Reporting by Dominique Vidalon; Editing by David Goodman)