Cinctive Capital Management LP Purchases New Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Cinctive Capital Management LP acquired a new stake in Keurig Dr Pepper, purchasing 229,468 shares valued at approximately $7.85 million during the first quarter.
• Several institutional investors increased their holdings in Keurig Dr Pepper; notable increases include a 51.8% stake raise by China Universal Asset Management and a significant 656.1% increase by Oppenheimer Asset Management.
• Analysts have mixed sentiment on Keurig Dr Pepper with Barclays upgrading its price target to $39.00, while HSBC downgraded it to a hold, reflecting a generally positive yet cautious outlook.

Cinctive Capital Management LP acquired a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 229,468 shares of the company's stock, valued at approximately $7,852,000.

A number of other hedge funds and other institutional investors have also modified their holdings of KDP. ST Germain D J Co. Inc. bought a new stake in shares of Keurig Dr Pepper during the first quarter valued at about $27,000. WPG Advisers LLC bought a new stake in shares of Keurig Dr Pepper during the first quarter valued at about $43,000. Continuum Advisory LLC raised its stake in shares of Keurig Dr Pepper by 82.5% during the first quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock valued at $46,000 after purchasing an additional 602 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Keurig Dr Pepper during the first quarter valued at about $48,000. Finally, LRI Investments LLC raised its stake in shares of Keurig Dr Pepper by 65.6% during the fourth quarter. LRI Investments LLC now owns 1,527 shares of the company's stock valued at $49,000 after purchasing an additional 605 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KDP. JPMorgan Chase & Co. cut their price objective on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Hsbc Global Res lowered Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Jefferies Financial Group set a $41.00 target price on Keurig Dr Pepper in a report on Monday, August 25th. Deutsche Bank Aktiengesellschaft dropped their price target on Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday, August 26th. Finally, Barclays boosted their price objective on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Keurig Dr Pepper currently has an average rating of "Moderate Buy" and a consensus target price of $38.38.

Insider Activity at Keurig Dr Pepper

In related news, Director Robert James Gamgort sold 7,601 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $35.91, for a total value of $272,951.91. Following the completion of the sale, the director owned 2,284,568 shares of the company's stock, valued at approximately $82,038,836.88. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the sale, the insider directly owned 82,511 shares of the company's stock, valued at approximately $2,777,320.26. The trade was a 12.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 459,601 shares of company stock valued at $15,228,872. 1.00% of the stock is currently owned by company insiders.

Keurig Dr Pepper Stock Down 3.6%

KDP stock traded down $1.02 during midday trading on Monday, reaching $27.63. The company had a trading volume of 34,799,613 shares, compared to its average volume of 13,170,804. The company has a 50 day moving average of $32.94 and a two-hundred day moving average of $33.49. The company has a market capitalization of $37.53 billion, a P/E ratio of 24.67, a PEG ratio of 1.57 and a beta of 0.47. Keurig Dr Pepper, Inc has a 1 year low of $27.24 and a 1 year high of $38.28. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting analysts' consensus estimates of $0.49. The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. Keurig Dr Pepper's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. On average, equities research analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.