Keurig Dr Pepper Inc (KDP)

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Keurig Dr Pepper Inc. (KDP) said Thursday its majority shareholder Acorn Holdings is planning to sell some of its shares in the company, a move that will increase the public float to about 20% of outstanding shares from a current 15%. Acorn said the decision was partly driven by KDP's request to provide additional liquidity. Acorn has already agreed to sell about 47 million shares through registered direct sales, boosting the public float to about 18%. "Acorn does not intend to sell any additional shares of KDP in the foreseeable future," the company said in a statement. KDP shares fell 1.1% in early trade, but have gained 52% in the last 12 months, while the S&P 500 has gained 4.7%.