Canada Pension Plan Investment Board Purchases Shares of 1,892,435 Keurig Dr Pepper, Inc $KDP

Key Points

• Canada Pension Plan Investment Board acquired 1,892,435 shares of Keurig Dr Pepper worth approximately $61.9 million, giving it a 0.14% stake. Institutional investors collectively own nearly 94% of the company.
• Analyst sentiment is favorable, with 11 Buy ratings and eight Holds producing a consensus “Moderate Buy” rating and a $34.94 price target; several firms recently raised their targets.
• Keurig Dr Pepper exceeded quarterly expectations, reporting $0.57 in earnings per share and $7.31 billion in revenue, with revenue up 75.6% year over year.

Canada Pension Plan Investment Board purchased a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,892,435 shares of the company's stock, valued at approximately $61,939,000. Canada Pension Plan Investment Board owned 0.14% of Keurig Dr Pepper as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Keurig Dr Pepper in the 2nd quarter worth about $269,336,000. The Manufacturers Life Insurance Company bought a new position in shares of Keurig Dr Pepper in the second quarter worth approximately $21,910,000. Manning & Napier Advisors LLC purchased a new stake in Keurig Dr Pepper in the second quarter valued at approximately $4,282,000. L2 Asset Management LLC bought a new stake in Keurig Dr Pepper during the second quarter valued at approximately $243,000. Finally, Cullen Capital Management LLC purchased a new position in Keurig Dr Pepper in the 2nd quarter worth approximately $55,661,000. Hedge funds and other institutional investors own 93.99% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Thursday, August 13th. UBS Group raised their price target on Keurig Dr Pepper from $38.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Keurig Dr Pepper in a report on Friday, August 7th. Royal Bank Of Canada reissued an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a report on Tuesday, August 4th. Finally, Barclays upped their target price on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $34.94.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $31.88 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. The company has a market capitalization of $43.38 billion, a PE ratio of 32.20, a P/E/G ratio of 1.44 and a beta of 0.40. The firm has a fifty day simple moving average of $31.21 and a two-hundred day simple moving average of $29.48. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $33.82.

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

Insider Activity

In other news, Director Aaron E. Alt bought 7,862 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average cost of $31.83 per share, with a total value of $250,247.46. Following the completion of the purchase, the director directly owned 7,862 shares in the company, valued at $250,247.46. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company's stock.

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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