Arrowstreet Capital Limited Partnership Takes Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Arrowstreet Capital initiated a position in Keurig Dr Pepper during the first quarter, purchasing 179,486 shares valued at approximately $4.7 million. Institutional investors collectively own nearly 94% of the company.
• KDP shares opened at $30.91, with the stock down 0.7%; the company has a market capitalization of about $42.1 billion and trades at a P/E ratio of 22.9.
• Keurig Dr Pepper recently paid a quarterly dividend of $0.23 per share, equivalent to an annualized $0.92 dividend and a 3.0% yield. Analysts have an overall “Hold” rating, with an average price target of $33.40.

Arrowstreet Capital Limited Partnership bought a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 179,486 shares of the company's stock, valued at approximately $4,726,000.

Other large investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in shares of Keurig Dr Pepper in the fourth quarter valued at about $26,000. Meeder Asset Management Inc. boosted its holdings in shares of 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 buying an additional 759 shares during the period. Activest Wealth Management boosted its holdings in shares of Keurig Dr Pepper by 5,642.1% during the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company's stock worth $31,000 after buying an additional 1,072 shares during the period. Washington Trust Advisors Inc. acquired a new position in Keurig Dr Pepper in the 4th quarter valued at about $31,000. Finally, Rossby Financial LCC raised its holdings in Keurig Dr Pepper by 45.1% in the 4th quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after acquiring an additional 339 shares during the period. Institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Down 0.7%

NASDAQ KDP opened at $30.91 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. The company has a market cap of $42.05 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.42 and a beta of 0.40. The company has a 50 day moving average of $31.14 and a 200-day moving average of $29.06. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.94.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper's dividend payout ratio is presently 68.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a report on Thursday, June 25th. Citigroup upped their price objective on Keurig Dr Pepper from $32.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. UBS Group lifted their target price on Keurig Dr Pepper from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, Barclays raised shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $30.00 to $36.00 in a research report on Thursday, June 25th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Keurig Dr Pepper has an average rating of "Hold" and an average price target of $33.40.

About Keurig Dr Pepper

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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