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Oct. 1, 2021, 7:24 a.m. EDT

Keurig Dr. Pepper shares jump after $4 billion share buyback program announced

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By Tonya Garcia

Keurig Dr. Pepper Inc. /zigman2/quotes/201754990/composite KDP +0.91% shares jumped 3.3% in Friday premarket trading after the beverage company announced a $4 billion share buyback program. Based on the current stock price, the program represents 8% of outstanding shares. The program is effective for four years starting January 1, 2022 and ending December 31, 2025. Keurig Dr. Pepper is hosting a virtual investor day event on Friday. The company also reaffirmed its 2021 guidance for adjusted earnings per share growth in the range of 13% to 15% and constant currency net sales growth in the range of 6% to 7%. The FactSet consensus is for EPS of $1.60, implying a 14.6% increase. Keurig Dr. Pepper shares are up 6.8% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.84% has gained 14.7% for the period.

/zigman2/quotes/201754990/composite
US : U.S.: Nasdaq
$ 34.47
+0.31 +0.91%
Volume: 0.00
Dec. 3, 2021 4:00p
P/E Ratio
28.41
Dividend Yield
2.18%
Market Cap
$48.88 billion
Rev. per Employee
$430,296
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/zigman2/quotes/210599714/realtime
US : S&P US
4,538.43
-38.67 -0.84%
Volume: 2.71B
Dec. 3, 2021 5:35p
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