342,841 Keurig Dr Pepper, Inc $KDP Shares Acquired by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its Keurig Dr Pepper stake by 380% in the third quarter, acquiring 342,841 shares and bringing its total holdings to 433,074 shares valued at approximately $13.1 million.
• Institutional investors own 93.99% of KDP shares, while company insiders recently sold shares, including transactions by Vice President Angela Stephens and insider Mary Beth Denooyer.
• Keurig Dr Pepper reported quarterly earnings of $0.57 per share, exceeding estimates, and revenue of $7.31 billion. Analysts maintain a “Moderate Buy” consensus rating with a $36 average price target, while the company pays a $0.23 quarterly dividend.

Carnegie Investment Counsel boosted its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 380.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 433,074 shares of the company's stock after purchasing an additional 342,841 shares during the period. Carnegie Investment Counsel's holdings in Keurig Dr Pepper were worth $13,139,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KDP. Robeco Institutional Asset Management B.V. lifted its position in shares of Keurig Dr Pepper by 5.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 640,931 shares of the company's stock valued at $19,446,000 after acquiring an additional 31,832 shares in the last quarter. AA Financial Advisors LLC boosted its position in shares of Keurig Dr Pepper by 29.3% during the third quarter. AA Financial Advisors LLC now owns 9,939 shares of the company's stock worth $302,000 after buying an additional 2,253 shares during the period. USA Financial Formulas acquired a new position in shares of Keurig Dr Pepper in the third quarter worth $735,000. Vontobel Holding Ltd. lifted its stake in Keurig Dr Pepper by 1.5% in the third quarter. Vontobel Holding Ltd. now owns 21,777 shares of the company's stock worth $661,000 after acquiring an additional 328 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Keurig Dr Pepper by 33.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 2,400 shares of the company's stock worth $74,000 after acquiring an additional 600 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 9,500 shares of Keurig Dr Pepper stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total value of $310,650.00. Following the completion of the transaction, the vice president owned 55,786 shares of the company's stock, valued at $1,824,202.20. The trade was a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $32.55, for a total value of $390,600.00. Following the completion of the transaction, the insider owned 84,171 shares of the company's stock, valued at approximately $2,739,766.05. The trade was a 12.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.34% of the company's stock.

Keurig Dr Pepper Stock Up 0.5%

Shares of Keurig Dr Pepper stock opened at $34.63 on Wednesday. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $34.88. The company has a fifty day moving average price of $31.81 and a 200 day moving average price of $30.46. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. The stock has a market cap of $47.13 billion, a price-to-earnings ratio of 34.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.57 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7.23 billion. During the same period last year, the business posted $0.49 EPS. The company's revenue was up 75.6% on a year-over-year basis. Equities research analysts forecast that Keurig Dr Pepper, Inc will post 2.30 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Monday, September 28th were issued a $0.23 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.7%. Keurig Dr Pepper's dividend payout ratio is currently 92.93%.

Wall Street Analyst Weigh In

KDP has been the subject of a number of research reports. Morgan Stanley began coverage on Keurig Dr Pepper in a research note on Thursday, August 20th. They issued an "overweight" rating and a $38.00 price objective for the company. Royal Bank Of Canada reissued an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a report on Tuesday, August 4th. Wells Fargo & Company set a $37.00 price target on Keurig Dr Pepper in a research report on Wednesday, July 1st. Piper Sandler reaffirmed an "overweight" rating on shares of Keurig Dr Pepper in a research note on Wednesday, October 14th. Finally, Sanford C. Bernstein set a $39.00 price target on shares of Keurig Dr Pepper in a report on Wednesday, July 8th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc NASDAQ: KDP is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company's brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott's, Bai, CORE Hydration and Venom, among others.

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