Meeder Advisory Services Inc. bought a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,684 shares of the company’s stock, valued at approximately $677,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Keurig Dr Pepper during the 2nd quarter valued at approximately $4,697,645,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Keurig Dr Pepper during the 4th quarter worth approximately $727,667,000. Norges Bank bought a new position in shares of Keurig Dr Pepper during the 4th quarter valued at approximately $568,361,000. Capital International Investors boosted its position in shares of Keurig Dr Pepper by 1,987.4% during the 4th quarter. Capital International Investors now owns 16,858,031 shares of the company’s stock valued at $472,193,000 after acquiring an additional 16,050,437 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Keurig Dr Pepper by 37.0% in the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company’s stock valued at $1,596,664,000 after purchasing an additional 15,393,753 shares in the last quarter. 93.99% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on KDP. Citigroup boosted their target price on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Sanford C. Bernstein set a $39.00 price target on shares of Keurig Dr Pepper in a report on Wednesday, July 8th. HSBC upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Thursday, August 13th. The Goldman Sachs Group raised Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a research note on Thursday, June 25th. Finally, UBS Group upped their price objective on Keurig Dr Pepper from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.94.
Keurig Dr Pepper Stock Up 1.9%
NASDAQ:KDP opened at $31.66 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.59. The company has a 50-day moving average of $31.14 and a 200 day moving average of $29.33. The firm has a market cap of $43.08 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 1.38 and a beta of 0.40.
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%.Keurig Dr Pepper’s revenue was up 75.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, research analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 EPS for the current fiscal year.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.
The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.
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