Bank of Nova Scotia Purchases Shares of 254,325 Keurig Dr Pepper, Inc $KDP

Key Points

• Bank of Nova Scotia acquired 254,325 Keurig Dr Pepper shares in the second quarter, valued at approximately $8.3 million. Institutional investors and hedge funds collectively own 93.99% of KDP’s outstanding stock.
• Keurig Dr Pepper reported quarterly earnings of $0.57 per share, exceeding estimates of $0.54, while revenue rose 75.6% year over year to $7.31 billion.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $34.94 price target; KDP recently traded at $32.51.

Bank of Nova Scotia acquired a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 254,325 shares of the company's stock, valued at approximately $8,324,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. raised its holdings 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 purchasing an additional 759 shares during the last quarter. Activest Wealth Management boosted its stake 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 worth $31,000 after buying an additional 1,072 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Keurig Dr Pepper in the fourth quarter worth about $31,000. Rossby Financial LCC grew its holdings in Keurig Dr Pepper by 45.1% during the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock worth $31,000 after acquiring an additional 339 shares during the period. Finally, GW&K Investment Management LLC grew its holdings in Keurig Dr Pepper by 67.6% during the fourth quarter. GW&K Investment Management LLC now owns 1,118 shares of the company's stock worth $31,000 after acquiring an additional 451 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $32.51 on Tuesday. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $31.16 and a 200 day moving average price of $29.40. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $33.82. The stock has a market cap of $44.24 billion, a P/E ratio of 32.84, a PEG ratio of 1.43 and a beta of 0.40.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KDP shares. Zacks Research lowered shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Sanford C. Bernstein set a $39.00 price objective on shares of Keurig Dr Pepper in a report on Wednesday, July 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Keurig Dr Pepper in a research report on Friday, August 7th. HSBC raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on Keurig Dr Pepper from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $34.94.

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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