Cibc World Market Inc. Takes Position in Keurig Dr Pepper, Inc $KDP

Key Points

• CIBC World Market purchased 81,474 shares of Keurig Dr Pepper in the second quarter, valued at approximately $2.67 million. Institutional investors and hedge funds collectively own 93.99% of KDP’s outstanding shares.
• KDP reported quarterly earnings of $0.57 per share, exceeding estimates of $0.54, while revenue reached $7.31 billion and rose 75.6% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $34.94, compared with the stock’s recent price of $32.21.

Cibc World Market Inc. purchased a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 81,474 shares of the company's stock, valued at approximately $2,667,000.

Several other institutional investors have also made changes to their positions in KDP. Meeder Asset Management Inc. increased its stake in Keurig Dr Pepper by 358.0% in the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company's stock valued at $26,000 after buying an additional 759 shares during the period. Activest Wealth Management grew 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 valued at $31,000 after acquiring an additional 1,072 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in shares of Keurig Dr Pepper in the fourth quarter worth $31,000. Rossby Financial LCC raised its holdings in shares of 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 in the last quarter. Finally, GW&K Investment Management LLC boosted its position 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 valued at $31,000 after purchasing an additional 451 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Trading Up 1.2%

Keurig Dr Pepper stock opened at $32.21 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28. The company has a market capitalization of $43.83 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 1.42 and a beta of 0.40. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $33.82. The company's fifty day moving average price is $31.18 and its two-hundred day moving average price is $29.45.

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

Wall Street Analyst Weigh In

KDP has been the topic of several research reports. Wells Fargo & Company set a $37.00 target price on Keurig Dr Pepper in a research report on Wednesday, July 1st. Citigroup lifted their price target on Keurig Dr Pepper from $32.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Barclays boosted their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Morgan Stanley began coverage on shares of Keurig Dr Pepper in a research report on Thursday, August 20th. They set an "overweight" rating and a $38.00 price objective on the stock. Finally, UBS Group raised their price objective on shares of Keurig Dr Pepper from $38.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.94.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source