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Value investor Bill Nygren told CNBC on Monday that he has bought shares of beverage company Keurig Dr Pepper, saying the stock is trading at an "unwarranted" discount to its peers in the category.
The Oakmark Fund manager specifically pointed to how Keurig Dr Pepper stacked up against Coca-Cola and PepsiCo when considering the companies' soft drink business.
"It sells at about two-thirds of the [price to earnings] of Coke and Pepsi, which are both losing market share while the Dr Pepper side of Keurig is gaining," Nygren said on "Halftime Report."
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