Perigon Wealth Management LLC bought a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 21,922 shares of the company’s stock, valued at approximately $718,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KDP. Northwestern Mutual Wealth Management Co. raised its holdings in Keurig Dr Pepper by 290.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock worth $1,475,000 after purchasing an additional 39,156 shares in the last quarter. Merit Financial Group LLC boosted its holdings in Keurig Dr Pepper by 194.6% in the 4th quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock valued at $2,438,000 after purchasing an additional 57,500 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Keurig Dr Pepper by 47.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock worth $5,030,000 after purchasing an additional 57,797 shares during the period. Principal Financial Group Inc. raised its stake in shares of Keurig Dr Pepper by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock worth $43,489,000 after buying an additional 47,184 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Keurig Dr Pepper by 4,366.8% during the 4th quarter. M&T Bank Corp now owns 1,370,428 shares of the company’s stock worth $38,386,000 after buying an additional 1,339,748 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on KDP shares. Zacks Research downgraded Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Keurig Dr Pepper in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on Keurig Dr Pepper from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Barclays boosted their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company set a $37.00 price target on shares of Keurig Dr Pepper in a research note on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.75.
Keurig Dr Pepper Stock Performance
KDP opened at $30.79 on Wednesday. The stock has a market cap of $41.90 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28. The stock’s 50 day simple moving average is $31.14 and its 200 day simple moving average is $29.28. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.94.
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 75.6% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. As a group, equities analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 EPS for the current fiscal year.
About Keurig Dr Pepper
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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