Keurig Green Mountain Inc., the maker of single-serve coffee brewers, will replace WPX Energy Inc. in the Standard & Poor’s 500 Index, S&P Dow Jones Indices said in a statement.
The change will take place after the close of trading on March 21, S&P said. The revisions in the benchmark equity index may prompt money managers to shift holdings to match the index. About $5.14 trillion is benchmarked to the S&P 500, according to the S&P website.
Keurig Green Mountain, based in Waterbury, Vermont, has a market capitalization of $16.9 billion.
The index provider said WPX Energy will take Keurig’s spot in the S&P MidCap 400. Biogen Idec Inc. will replace American Electric Power Co. in the S&P 100, the statement said. Matson Inc. will replace Kate Spade & Co. in the S&P SmallCap 600 as Kate Spade takes Matson’s spot in the mid-cap index.