96,139 Shares in Keurig Dr Pepper, Inc $KDP Acquired by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP acquired 96,139 shares of Keurig Dr Pepper, Inc, valued at approximately $3.29 million, marking a new position for the institutional investor in the company.
• Insider activity includes the sale of 208,000 shares by Director Robert James Gamgort for $6.84 million, resulting in an 8.32% decrease in his ownership.
• The company's stock has a market capitalization of $39.52 billion and reported quarterly earnings in line with expectations, showing a 6.1% year-over-year revenue increase.

Concentric Capital Strategies LP acquired a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 96,139 shares of the company's stock, valued at approximately $3,290,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ST Germain D J Co. Inc. bought a new position in shares of Keurig Dr Pepper in the 1st quarter valued at about $27,000. WPG Advisers LLC bought a new position in shares of Keurig Dr Pepper in the 1st quarter valued at about $43,000. Continuum Advisory LLC grew its position in shares of Keurig Dr Pepper by 82.5% in the 1st quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock valued at $46,000 after acquiring an additional 602 shares during the period. Global Trust Asset Management LLC bought a new position in shares of Keurig Dr Pepper in the 1st quarter valued at about $48,000. Finally, LRI Investments LLC grew its position in shares of Keurig Dr Pepper by 65.6% in the 4th quarter. LRI Investments LLC now owns 1,527 shares of the company's stock valued at $49,000 after acquiring an additional 605 shares during the period. Institutional investors own 93.99% of the company's stock.

Insider Buying and Selling

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total transaction of $403,920.00. Following the transaction, the insider owned 82,511 shares in the company, valued at $2,777,320.26. This represents a 12.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the transaction, the director owned 2,292,169 shares in the company, valued at approximately $75,412,360.10. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 459,601 shares of company stock worth $15,228,872. Company insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KDP. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Tuesday, August 26th. Barclays upped their price target on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Jefferies Financial Group set a $41.00 price target on shares of Keurig Dr Pepper in a research note on Monday, August 25th. Hsbc Global Res lowered shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, UBS Group decreased their price target on shares of Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, August 27th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Keurig Dr Pepper has an average rating of "Moderate Buy" and an average target price of $38.38.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP traded down $0.60 on Friday, reaching $28.65. 21,094,736 shares of the company's stock were exchanged, compared to its average volume of 18,428,686. The company has a fifty day moving average of $32.94 and a 200-day moving average of $33.49. Keurig Dr Pepper, Inc has a twelve month low of $28.58 and a twelve month high of $38.28. The company has a market capitalization of $38.92 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.57 and a beta of 0.47. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.49. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The business's revenue was up 6.1% compared to the same quarter last year. On average, research analysts predict that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.