Armistice Capital LLC Acquires New Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Armistice Capital LLC invested approximately $37.6 million in Keurig Dr Pepper, Inc by purchasing over 1.09 million shares, marking a new position in the company.
• Several hedge funds, including Vanguard Group and JPMorgan Chase, also increased their stakes in Keurig Dr Pepper, reflecting a strong interest from institutional investors that own 93.99% of the company's stock.
• Multiple analysts have revised their price targets for Keurig Dr Pepper, with HSBC lowering its target from $42.00 to $30.00 and several firms maintaining a “buy” rating amid a consensus price target of $38.38.

Armistice Capital LLC purchased a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,099,716 shares of the company's stock, valued at approximately $37,632,000. Armistice Capital LLC owned 0.08% of Keurig Dr Pepper at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Quarry LP raised its position in Keurig Dr Pepper by 13.9% during the first quarter. Quarry LP now owns 4,845 shares of the company's stock valued at $166,000 after purchasing an additional 590 shares in the last quarter. Vident Advisory LLC raised its stake in Keurig Dr Pepper by 85.1% during the first quarter. Vident Advisory LLC now owns 26,641 shares of the company's stock valued at $912,000 after buying an additional 12,250 shares during the last quarter. WPG Advisers LLC purchased a new position in Keurig Dr Pepper during the first quarter valued at $43,000. State of Wyoming raised its stake in Keurig Dr Pepper by 61.1% during the first quarter. State of Wyoming now owns 11,325 shares of the company's stock valued at $388,000 after buying an additional 4,294 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Keurig Dr Pepper in the 1st quarter valued at approximately $3,824,000. Institutional investors own 93.99% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KDP shares. HSBC reissued a "hold" rating and set a $30.00 price target (down from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday, August 26th. JPMorgan Chase & Co. reduced their price objective on 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. UBS Group reduced their price objective on Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, August 27th. Hsbc Global Res lowered Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Jefferies Financial Group set a $41.00 price objective on Keurig Dr Pepper in a research note on Monday, August 25th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Keurig Dr Pepper presently has an average rating of "Moderate Buy" and an average price target of $38.38.

Keurig Dr Pepper Trading Down 0.6%

NASDAQ KDP traded down $0.18 during trading on Tuesday, hitting $28.91. The stock had a trading volume of 29,138,360 shares, compared to its average volume of 14,612,518. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The stock has a market capitalization of $39.27 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.59 and a beta of 0.47. Keurig Dr Pepper, Inc has a one year low of $28.60 and a one year high of $38.28. The stock has a 50 day simple moving average of $33.18 and a 200 day simple moving average of $33.56.

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

Insiders Place Their Bets

In other Keurig Dr Pepper news, Director De Ven Michael G. Van bought 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was bought at an average cost of $33.20 per share, for a total transaction of $498,000.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $498,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction 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 of the company's stock, valued at $2,777,320.26. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 459,601 shares of company stock valued at $15,228,872. 1.00% of the stock is currently owned by insiders.

Keurig Dr Pepper 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.