Comerica Bank Reduces Stake in Keurig Dr Pepper, Inc $KDP

Key Points

• Comerica Bank has reduced its stake in Keurig Dr Pepper, Inc by 7.1%, holding approximately $5.55 million worth of shares after selling 12,409 shares in the first quarter.
• Keurig Dr Pepper reported a revenue increase of 6.1% year-over-year, with earnings per share hitting $0.49, matching analyst expectations, and a quarterly revenue of $4.16 billion.
• Insider trading activity has seen a notable sale by Director Robert James Gamgort of 208,000 shares for $6.84 million and a purchase of 15,000 shares by Director De Ven Michael G. Van, indicating mixed confidence among insiders.

Comerica Bank trimmed its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 7.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,249 shares of the company's stock after selling 12,409 shares during the quarter. Comerica Bank's holdings in Keurig Dr Pepper were worth $5,552,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. MetLife Investment Management LLC raised its position in shares of Keurig Dr Pepper by 4.1% during the first quarter. MetLife Investment Management LLC now owns 310,093 shares of the company's stock worth $10,611,000 after purchasing an additional 12,201 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Keurig Dr Pepper during the first quarter worth $2,798,000. SVB Wealth LLC bought a new stake in Keurig Dr Pepper during the first quarter worth $85,000. Smartleaf Asset Management LLC grew its holdings in Keurig Dr Pepper by 16.8% during the first quarter. Smartleaf Asset Management LLC now owns 6,232 shares of the company's stock worth $210,000 after buying an additional 895 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Keurig Dr Pepper by 2.7% during the first quarter. Bahl & Gaynor Inc. now owns 4,252,806 shares of the company's stock worth $145,531,000 after buying an additional 109,923 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP traded down $0.27 during midday trading on Tuesday, reaching $28.83. The company had a trading volume of 17,952,167 shares, compared to its average volume of 12,656,469. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. The stock has a market cap of $39.16 billion, a P/E ratio of 25.72, a P/E/G ratio of 1.59 and a beta of 0.47. Keurig Dr Pepper, Inc has a 52-week low of $28.60 and a 52-week high of $38.28. The company's 50 day moving average price is $33.27 and its 200 day moving average price is $33.59.

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 the consensus estimate of $0.49. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.14 billion. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KDP. UBS Group decreased their price target on Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, August 27th. Barclays upped their price target on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Jefferies Financial Group set a $41.00 price target on Keurig Dr Pepper in a report on Monday, August 25th. JPMorgan Chase & Co. decreased their price target on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Finally, Hsbc Global Res downgraded Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Keurig Dr Pepper currently has an average rating of "Moderate Buy" and an average target price of $38.38.

Insider Transactions at Keurig Dr Pepper

In other news, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the completion of the transaction, the director owned 2,292,169 shares in the company, valued at approximately $75,412,360.10. This represents a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director De Ven Michael G. Van purchased 15,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of $33.20 per share, with a total value of $498,000.00. Following the purchase, the director directly owned 15,000 shares in the company, valued at $498,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 459,601 shares of company stock worth $15,228,872. 1.00% of the stock is owned by company insiders.

Keurig Dr Pepper Company 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.