1,700,621 Shares in Keurig Dr Pepper, Inc $KDP Bought by Cullen Capital Management LLC

Key Points

• Cullen Capital Management acquired 1.70 million Keurig Dr Pepper shares worth approximately $55.7 million, giving it a 0.12% stake. Institutional investors collectively own 93.99% of the company.
• Keurig Dr Pepper exceeded quarterly expectations, reporting $0.57 EPS versus a $0.54 estimate and $7.31 billion in revenue, up 75.6% year over year.
• Analyst sentiment is moderately bullish: 11 analysts rate KDP a Buy and eight rate it a Hold, producing a consensus “Moderate Buy” rating and an average price target of $34.94.

Cullen Capital Management LLC acquired a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,700,621 shares of the company's stock, valued at approximately $55,661,000. Cullen Capital Management LLC owned 0.12% of Keurig Dr Pepper at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its position in shares of Keurig Dr Pepper by 30.6% during the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company's stock valued at $530,000 after buying an additional 3,627 shares during the last quarter. Empowered Funds LLC raised its stake in Keurig Dr Pepper by 248.0% during the first quarter. Empowered Funds LLC now owns 69,801 shares of the company's stock worth $2,389,000 after acquiring an additional 49,741 shares during the period. Woodline Partners LP lifted its holdings in Keurig Dr Pepper by 49.2% in the first quarter. Woodline Partners LP now owns 100,870 shares of the company's stock worth $3,452,000 after acquiring an additional 33,258 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Keurig Dr Pepper in the second quarter valued at approximately $328,000. Finally, Jump Financial LLC boosted its stake in Keurig Dr Pepper by 253.6% in the second quarter. Jump Financial LLC now owns 76,089 shares of the company's stock valued at $2,516,000 after acquiring an additional 54,571 shares during the period. Institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $32.51 on Tuesday. The firm's 50 day moving average is $31.16 and its two-hundred day moving average is $29.40. The firm has a market capitalization of $44.24 billion, a P/E ratio of 32.84, a PEG ratio of 1.43 and a beta of 0.40. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. Keurig Dr Pepper, Inc has a 52 week low of $24.88 and a 52 week high of $33.82.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%.The business had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The business's revenue was up 75.6% on a year-over-year basis. Analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on KDP. Barclays increased their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. The Goldman Sachs Group upgraded Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research report on Thursday, June 25th. Weiss Ratings restated a "hold (c)" rating on shares of Keurig Dr Pepper in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $42.00 target price on shares of Keurig Dr Pepper in a research report on Tuesday, August 4th. Finally, UBS Group raised their target price on Keurig Dr Pepper from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.94.

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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