Copart To Replace Dr Pepper Snapple Group In S&P 500

(RTTNews) - S&P MidCap 400 constituent Copart Inc. (CPRT) will replace Dr Pepper Snapple Group Inc. (DPS) in the S&P 500, and Exelixis Inc. (EXEL) will replace Copart in the S&P MidCap 400 effective prior to the open of trading on Monday, July 2.

Dr Pepper Snapple Group, which is merging with privately held Keurig Green Mountain Inc., is changing its name to Keurig Dr Pepper Inc. and its ticker symbol (KDP) in a transaction expected to be completed soon. The newly combined company will no longer be eligible for inclusion in the S&P 500 as its Investable Weight Factor (IWF), which measures the percentage of free float available to the public, is expected to fall well below the 50% eligibility threshold needed for continued inclusion in the index.

S&P Dow Jones Indices announces an update and clarification to the S&P U.S. Indices methodology effective today.