7,068,277 Shares in Keurig Dr Pepper, Inc $KDP Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,068,277 shares of the company's stock, valued at approximately $231,345,000. Bank of New York Mellon Corp owned approximately 0.52% of Keurig Dr Pepper at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its position in Keurig Dr Pepper by 358.0% during the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company's stock worth $26,000 after acquiring an additional 759 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Keurig Dr Pepper by 102,300.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company's stock valued at $34,000 after acquiring an additional 1,023 shares in the last quarter. Rossby Financial LCC raised its stake in shares of Keurig Dr Pepper by 45.1% during the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after purchasing an additional 339 shares during the period. Activest Wealth Management raised its stake in shares of Keurig Dr Pepper by 5,642.1% during the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company's stock valued at $31,000 after purchasing an additional 1,072 shares during the period. Finally, Washington Trust Advisors Inc. acquired a new position in shares of Keurig Dr Pepper during the fourth quarter worth $31,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $32.04 on Friday. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.59. The firm has a market capitalization of $43.60 billion, a PE ratio of 32.36, a P/E/G ratio of 1.43 and a beta of 0.40. The company's 50 day simple moving average is $31.15 and its 200 day simple moving average is $29.35. 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 (NASDAQ:KDP - Get Free Report) last announced 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. 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 analyst estimates of $7.23 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company's revenue was up 75.6% on a year-over-year basis. As a group, equities research analysts forecast that Keurig Dr Pepper, Inc will post 2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KDP. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Thursday, August 13th. Morgan Stanley assumed coverage on Keurig Dr Pepper in a research note on Thursday. They set an "overweight" rating and a $38.00 target price for the company. UBS Group lifted their target price on Keurig Dr Pepper from $38.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. The Goldman Sachs Group upgraded Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, August 4th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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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