369,783 Shares in Keurig Dr Pepper, Inc $KDP Purchased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio purchased 369,783 shares of Keurig Dr Pepper worth approximately $12.1 million in the second quarter. Institutional investors and hedge funds now own 93.99% of KDP’s outstanding stock.
• Wall Street sentiment is favorable, with an average rating of “Moderate Buy” from 19 analysts and a consensus price target of $34.94; several firms recently raised their targets to $37–$38.
• KDP exceeded quarterly expectations, reporting $0.57 in EPS versus the $0.54 consensus and $7.31 billion in revenue. Revenue increased 75.6% year over year, while a company director separately bought 7,862 shares at an average price of $31.83.

Public Employees Retirement System of Ohio acquired a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 369,783 shares of the company's stock, valued at approximately $12,103,000.

Several other hedge funds have also recently modified their holdings of the stock. Transamerica Financial Advisors LLC purchased a new position in shares of Keurig Dr Pepper in the second quarter valued at approximately $158,000. Corient Private Wealth LP acquired a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at about $2,952,000. Bank of America Corp DE purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $281,503,000. Freestone Grove Partners LP purchased a new position in Keurig Dr Pepper in the second quarter worth approximately $122,637,000. Finally, Odyssean LLC grew its holdings in shares of Keurig Dr Pepper by 215.5% during the 2nd quarter. Odyssean LLC now owns 33,619 shares of the company's stock worth $1,100,000 after purchasing an additional 22,963 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KDP. Citigroup raised their price target on Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Wells Fargo & Company set a $37.00 target price on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Morgan Stanley assumed coverage on shares of Keurig Dr Pepper in a report on Thursday, August 20th. They set an "overweight" rating and a $38.00 price target for the company. Barclays upped their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.94.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $32.18 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $33.82. The firm has a 50-day simple moving average of $31.24 and a 200-day simple moving average of $29.50. The company has a market capitalization of $43.79 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40.

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

Insider Buying and Selling at Keurig Dr Pepper

In related news, Director Aaron E. Alt bought 7,862 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average price of $31.83 per share, with a total value of $250,247.46. Following the completion of the acquisition, the director owned 7,862 shares in the company, valued at approximately $250,247.46. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company's stock.

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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