Keurig Dr Pepper, Inc $KDP Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Keurig Dr Pepper, Inc by 44.9%, owning approximately $52.17 million worth of the stock after acquiring additional shares in the 1st quarter.
• Several other hedge funds also reported increases in their stakes, with Dark Forest Capital Management LP growing its position by 176.5%.
• Recent analyst ratings on Keurig Dr Pepper include a price target adjustment, with UBS lowering its target from $40.00 to $35.00, while Barclays increased its target from $37.00 to $39.00.

Adage Capital Partners GP L.L.C. boosted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 44.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,524,600 shares of the company's stock after purchasing an additional 472,700 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Keurig Dr Pepper worth $52,172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Commerce Bank grew its holdings in Keurig Dr Pepper by 1.6% during the 1st quarter. Commerce Bank now owns 21,513 shares of the company's stock worth $736,000 after acquiring an additional 340 shares during the period. First American Bank lifted its position in Keurig Dr Pepper by 0.6% in the 1st quarter. First American Bank now owns 59,564 shares of the company's stock valued at $2,038,000 after acquiring an additional 344 shares in the last quarter. Allworth Financial LP lifted its position in Keurig Dr Pepper by 3.8% in the 1st quarter. Allworth Financial LP now owns 10,242 shares of the company's stock valued at $353,000 after acquiring an additional 371 shares in the last quarter. Citadel Investment Advisory Inc. lifted its position in Keurig Dr Pepper by 6.6% during the 1st quarter. Citadel Investment Advisory Inc. now owns 6,445 shares of the company's stock worth $221,000 after buying an additional 400 shares in the last quarter. Finally, Hartford Funds Management Co LLC lifted its position in Keurig Dr Pepper by 1.2% during the 1st quarter. Hartford Funds Management Co LLC now owns 34,497 shares of the company's stock worth $1,180,000 after buying an additional 413 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on KDP. 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. Jefferies Financial Group set a $41.00 price objective on shares of Keurig Dr Pepper in a research note on Monday, August 25th. UBS Group cut 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 report on Wednesday, August 27th. JPMorgan Chase & Co. lowered their target price on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Finally, HSBC reissued a "hold" rating and set a $30.00 target price (down from $42.00) on shares of Keurig Dr Pepper in a research report on Tuesday, August 26th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.38.

Keurig Dr Pepper Trading Down 3.6%

Keurig Dr Pepper stock traded down $1.02 during trading hours on Monday, reaching $27.63. The stock had a trading volume of 33,595,349 shares, compared to its average volume of 13,141,581. The stock has a market cap of $37.53 billion, a PE ratio of 24.67, a PEG ratio of 1.57 and a beta of 0.47. Keurig Dr Pepper, Inc has a 52 week low of $27.24 and a 52 week high of $38.28. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. The company has a fifty day simple moving average of $32.94 and a 200-day simple moving average of $33.49.

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 for the quarter, meeting 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 previous year, the firm posted $0.45 EPS. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts forecast that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $32.90, for a total value of $6,843,200.00. Following the completion of the transaction, the director directly owned 2,292,169 shares in the company, valued at $75,412,360.10. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $33.66, for a total transaction of $403,920.00. Following the completion of the transaction, the insider directly owned 82,511 shares in the company, valued at $2,777,320.26. This trade represents a 12.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 459,601 shares of company stock valued at $15,228,872. Company insiders own 1.00% of the company's stock.

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.