Ameriprise Financial Inc. Sells 433,998 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Ameriprise Financial Inc. has reduced its stake in Keurig Dr Pepper by 20.1%, selling 433,998 shares and now holding approximately 1.72 million shares worth $58.99 million.
• Several other institutional investors, including China Universal Asset Management and Oppenheimer Asset Management, significantly increased their holdings in Keurig Dr Pepper during the first quarter, indicating a strong interest among large investors.
• Keurig Dr Pepper's recent earnings report showed revenue up 6.1% year-over-year with earnings per share matching analyst expectations at $0.49, while analysts have mixed price targets for the stock ranging from $35.00 to $41.00.

Ameriprise Financial Inc. reduced its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,723,429 shares of the company's stock after selling 433,998 shares during the period. Ameriprise Financial Inc. owned about 0.13% of Keurig Dr Pepper worth $58,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its holdings in Keurig Dr Pepper by 51.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company's stock valued at $1,154,000 after acquiring an additional 11,435 shares during the last quarter. Praxis Investment Management Inc. boosted its holdings in Keurig Dr Pepper by 112.2% in the first quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company's stock valued at $672,000 after acquiring an additional 10,380 shares during the last quarter. Aspire Private Capital LLC bought a new stake in Keurig Dr Pepper in the first quarter valued at approximately $1,177,000. Envestnet Asset Management Inc. boosted its holdings in Keurig Dr Pepper by 13.7% in the first quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company's stock valued at $96,609,000 after acquiring an additional 339,530 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Keurig Dr Pepper by 656.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 205,556 shares of the company's stock valued at $7,034,000 after acquiring an additional 178,368 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $29.72 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.64 and a debt-to-equity ratio of 0.56. Keurig Dr Pepper, Inc has a twelve month low of $28.70 and a twelve month high of $38.28. The stock's 50 day moving average is $33.52 and its 200-day moving average is $33.61. The firm has a market capitalization of $40.37 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.96 and a beta of 0.45.

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

Insider Transactions at Keurig Dr Pepper

In other news, Director De Ven Michael G. Van bought 15,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were bought at an average cost of $33.20 per share, with a total value of $498,000.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at $498,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $32.90, for a total value of $6,843,200.00. Following the transaction, the director directly owned 2,292,169 shares in the company, valued at $75,412,360.10. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 679,601 shares of company stock valued at $22,508,712 over the last ninety days. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on KDP shares. UBS Group reduced their target price on Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday. Barclays upped their target price on Keurig Dr Pepper from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Deutsche Bank Aktiengesellschaft cut their price target on Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Tuesday. Jefferies Financial Group set a $41.00 price target on Keurig Dr Pepper in a report on Monday. Finally, JPMorgan Chase & Co. cut their price target on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.38.

About Keurig Dr Pepper

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.

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