Oak Thistle LLC Purchases 16,761 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Oak Thistle LLC increased its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 61.1% during the first quarter, HoldingsChannel reports. The fund owned 44,173 shares of the company’s stock after buying an additional 16,761 shares during the period. Oak Thistle LLC’s holdings in Keurig Dr Pepper were worth $1,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. lifted its stake in shares of Keurig Dr Pepper by 51.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company’s stock worth $1,154,000 after buying an additional 11,435 shares during the last quarter. Praxis Investment Management Inc. raised its position in shares of Keurig Dr Pepper by 112.2% in the 1st quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company’s stock valued at $672,000 after buying an additional 10,380 shares in the last quarter. Aspire Private Capital LLC bought a new stake in shares of Keurig Dr Pepper during the 1st quarter valued at approximately $1,177,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Keurig Dr Pepper by 656.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 205,556 shares of the company’s stock valued at $7,034,000 after purchasing an additional 178,368 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Keurig Dr Pepper by 13.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company’s stock valued at $96,609,000 after purchasing an additional 339,530 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert James Gamgort sold 208,000 shares of Keurig Dr Pepper stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $33.10, for a total transaction of $6,884,800.00. Following the transaction, the director owned 2,638,490 shares in the company, valued at approximately $87,334,019. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Angela A. Stephens sold 14,500 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total value of $496,480.00. Following the sale, the vice president owned 62,411 shares of the company’s stock, valued at approximately $2,136,952.64. This trade represents a 18.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 698,500 shares of company stock worth $23,557,560 over the last 90 days. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of research reports. UBS Group dropped their target price on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Barclays dropped their price objective on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 27th. Piper Sandler raised shares of Keurig Dr Pepper from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $40.00 in a research note on Wednesday, April 9th. Morgan Stanley raised shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. Finally, Argus assumed coverage on shares of Keurig Dr Pepper in a research note on Wednesday, April 16th. They issued a “buy” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average target price of $39.62.

Keurig Dr Pepper Trading Down 0.8%

NASDAQ:KDP opened at $33.50 on Thursday. The stock’s 50 day simple moving average is $33.28 and its 200-day simple moving average is $33.22. Keurig Dr Pepper, Inc has a 12-month low of $30.12 and a 12-month high of $38.28. The firm has a market cap of $45.50 billion, a P/E ratio of 30.45, a PEG ratio of 2.60 and a beta of 0.47. The company has a current ratio of 0.47, a quick ratio of 0.31 and a debt-to-equity ratio of 0.49.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Equities analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper’s payout ratio is currently 83.64%.

About Keurig Dr Pepper

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.