West Tower Group LLC Invests $397,000 in Keurig Dr Pepper, Inc $KDP

West Tower Group LLC bought a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,000 shares of the company’s stock, valued at approximately $397,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Keurig Dr Pepper by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock worth $4,962,338,000 after buying an additional 25,425,644 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Keurig Dr Pepper by 108.1% in the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock valued at $1,330,565,000 after acquiring an additional 20,196,835 shares in the last quarter. Invesco Ltd. increased its position in Keurig Dr Pepper by 1.7% during the first quarter. Invesco Ltd. now owns 21,973,128 shares of the company’s stock worth $751,920,000 after acquiring an additional 367,518 shares during the period. Northern Trust Corp raised its stake in Keurig Dr Pepper by 0.8% in the 1st quarter. Northern Trust Corp now owns 13,712,677 shares of the company’s stock worth $469,248,000 after purchasing an additional 114,044 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Keurig Dr Pepper by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,284,995 shares of the company’s stock valued at $351,927,000 after purchasing an additional 358,350 shares during the period. 93.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on KDP. The Goldman Sachs Group lowered their target price on shares of Keurig Dr Pepper from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, October 2nd. Citigroup lowered their price objective on Keurig Dr Pepper from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, September 16th. Piper Sandler dropped their price objective on Keurig Dr Pepper from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. BNP Paribas Exane lowered Keurig Dr Pepper from a “neutral” rating to an “underperform” rating in a report on Monday, September 22nd. Finally, Bank of America decreased their price target on Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.00.

Keurig Dr Pepper Trading Up 1.1%

Shares of KDP stock opened at $28.03 on Monday. The stock’s fifty day moving average price is $28.74 and its two-hundred day moving average price is $31.95. The company has a market cap of $38.08 billion, a PE ratio of 25.03, a P/E/G ratio of 1.55 and a beta of 0.43. Keurig Dr Pepper, Inc has a fifty-two week low of $25.03 and a fifty-two week high of $37.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. Keurig Dr Pepper’s revenue was up 6.1% on a year-over-year basis. Equities analysts predict that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, September 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 82.14%.

Insider Activity

In related news, Director Robert James Gamgort sold 7,601 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total transaction of $272,951.91. Following the completion of the transaction, the director directly owned 2,284,568 shares in the company, valued at $82,038,836.88. This represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 423,601 shares of company stock worth $14,017,592. Insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Profile

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.