Assenagon Asset Management S.A. Sells 216,061 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Assenagon Asset Management cut its Keurig Dr Pepper stake by 82.7% in the second quarter, selling 216,061 shares and retaining 45,040 shares valued at approximately $1.47 million. Institutional investors and hedge funds collectively own 93.99% of KDP.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and eight Holds producing a consensus “Moderate Buy” rating and an average price target of $34.75.
• Keurig Dr Pepper exceeded quarterly expectations, reporting $0.57 in EPS versus $0.54 expected and $7.31 billion in revenue, up 75.6% year over year. The company also pays a quarterly dividend of $0.23 per share, equating to a 2.9% yield.

Assenagon Asset Management S.A. lessened its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 82.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,040 shares of the company's stock after selling 216,061 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Keurig Dr Pepper were worth $1,474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KDP. Salomon & Ludwin LLC bought a new position in Keurig Dr Pepper in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. increased its position in shares of Keurig Dr Pepper by 358.0% during the first quarter. Meeder Asset Management Inc. now owns 971 shares of the company's stock worth $26,000 after acquiring an additional 759 shares in the last quarter. Activest Wealth Management lifted its holdings in shares of Keurig Dr Pepper by 5,642.1% in the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company's stock valued at $31,000 after purchasing an additional 1,072 shares in the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of Keurig Dr Pepper in the fourth quarter worth $31,000. Finally, Rossby Financial LCC increased its position in shares of 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 acquiring an additional 339 shares during the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KDP. Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a report on Wednesday, July 8th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. Barclays boosted their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday. The Goldman Sachs Group raised Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday, June 25th. Finally, Evercore set a $30.00 target price on shares of Keurig Dr Pepper in a report on Friday, April 24th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.75.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $31.44 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.48 and a debt-to-equity ratio of 0.74. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94. The company has a fifty day moving average of $31.17 and a 200-day moving average of $29.22. The firm has a market capitalization of $42.78 billion, a P/E ratio of 31.76, a P/E/G ratio of 1.39 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. Keurig Dr Pepper's revenue was up 75.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, June 26th. This represents a $0.92 annualized dividend and a yield of 2.9%. Keurig Dr Pepper's dividend payout ratio is presently 92.93%.

Keurig Dr Pepper Company Profile

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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