Founders Capital Management has drastically reduced its stake in PepsiCo during the second quarter, selling 5,260 shares according to its latest SEC filing. The firm now holds 3,730 shares, valued at approximately $493,000, representing a 58.5% cut in its position.

Claris Advisors LLC MO recently increased its investment in PepsiCo, Inc. by 14.1%, adding 308 shares in the second quarter. The firm now owns 2,490 shares of the global snack-and-beverage giant, valued at $329,000.

Elliott Investment Management has acquired a $4 billion stake in PepsiCo, citing an opportunity to reinvigorate the iconic snack and drink producer. The move underscores the activist investor’s confidence in PepsiCo’s potential to expand and innovate.