Assenagon Asset Management S.A. Raises Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Assenagon Asset Management significantly increased its stake in Keurig Dr Pepper, boosting holdings by 457.9% in the first quarter to 261,101 shares worth about $6.88 million.
• Keurig Dr Pepper reported Q1 earnings of $0.39 per share, topping estimates, while revenue came in at $3.98 billion and rose 9.4% year over year; analysts now expect full-year EPS of 2.29.
• The company also declared a quarterly dividend of $0.23 per share, implying an annualized yield of 2.7%, while Wall Street sentiment remains mixed with an average rating of Hold and a $32.40 price target.

Assenagon Asset Management S.A. boosted its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 457.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,101 shares of the company's stock after purchasing an additional 214,303 shares during the period. Assenagon Asset Management S.A.'s holdings in Keurig Dr Pepper were worth $6,875,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Auxier Asset Management boosted its holdings in Keurig Dr Pepper by 0.4% during the 2nd quarter. Auxier Asset Management now owns 72,163 shares of the company's stock valued at $2,386,000 after acquiring an additional 318 shares during the period. Rossby Financial LCC lifted its position in Keurig Dr Pepper by 45.1% in the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after purchasing an additional 339 shares during the last quarter. Wealth Watch Advisors INC boosted its stake in shares of Keurig Dr Pepper by 18.3% during the fourth quarter. Wealth Watch Advisors INC now owns 2,407 shares of the company's stock valued at $67,000 after purchasing an additional 373 shares during the period. Park Avenue Securities LLC boosted its stake in shares of Keurig Dr Pepper by 3.0% during the fourth quarter. Park Avenue Securities LLC now owns 13,691 shares of the company's stock valued at $383,000 after purchasing an additional 405 shares during the period. Finally, Transamerica Financial Advisors LLC grew its holdings in shares of Keurig Dr Pepper by 19.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 2,567 shares of the company's stock worth $72,000 after purchasing an additional 420 shares during the last quarter. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Stock Up 0.3%

Shares of NASDAQ:KDP opened at $33.48 on Monday. The firm has a market capitalization of $45.56 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.53 and a beta of 0.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The stock has a 50 day moving average price of $29.66 and a 200-day moving average price of $28.49. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, equities research analysts anticipate that Keurig Dr Pepper, Inc will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, June 26th. Keurig Dr Pepper's payout ratio is 68.15%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, March 30th. Citigroup cut their price target on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. The Goldman Sachs Group raised shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday. Finally, Zacks Research lowered shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $32.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.