Corient Private Wealth LP Acquires Shares of 90,172 Keurig Dr Pepper, Inc $KDP

Key Points

• Corient Private Wealth purchased 90,172 Keurig Dr Pepper shares in the second quarter, valued at approximately $2.95 million. Institutional investors collectively own 93.99% of KDP, while insiders hold 0.34%.
• KDP reported quarterly EPS of $0.57, beating estimates of $0.54, while revenue reached $7.31 billion and rose 75.6% year over year. Shares opened at $31.89, near the middle of their 52-week range.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $34.94. Separately, KDP plans to sell its Chobani stake and a Pennsylvania facility for $925 million, with proceeds expected to support deleveraging ahead of its planned business split.

Corient Private Wealth LP 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. The firm purchased 90,172 shares of the company's stock, valued at approximately $2,952,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew 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 worth $26,000 after acquiring an additional 759 shares in the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of Keurig Dr Pepper during the fourth quarter valued at approximately $31,000. Rossby Financial LCC boosted its holdings in shares of Keurig Dr Pepper by 45.1% in the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after purchasing an additional 339 shares during the period. GW&K Investment Management LLC boosted its holdings in shares of Keurig Dr Pepper by 67.6% in 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 period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Keurig Dr Pepper by 102,300.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company's stock worth $34,000 after purchasing an additional 1,023 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

Insiders Place Their Bets

In other Keurig Dr Pepper news, Director Aaron E. Alt acquired 7,862 shares of the company's stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average cost of $31.83 per share, with a total value of $250,247.46. Following the acquisition, the director directly owned 7,862 shares of the company's stock, valued at approximately $250,247.46. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.34% of the company's stock.

Keurig Dr Pepper Trading Up 0.1%

Shares of NASDAQ:KDP opened at $31.89 on Wednesday. The business's 50-day moving average is $31.28 and its 200 day moving average is $29.54. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $33.82. The firm has a market capitalization of $43.40 billion, a P/E ratio of 32.21, a P/E/G ratio of 1.42 and a beta of 0.40. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Keurig Dr Pepper from $33.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Sanford C. Bernstein set a $39.00 price target on Keurig Dr Pepper in a research note on Wednesday, July 8th. UBS Group lifted their price objective on Keurig Dr Pepper from $38.00 to $39.00 and gave the company a "buy" rating in a report on Friday, August 7th. Citigroup upped their price objective on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group upgraded shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a report on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and an average price target of $34.94.

Keurig Dr Pepper News Roundup

Here are the key news stories impacting Keurig Dr Pepper this week:

• Positive Sentiment: KDP will sell its minority stake in Chobani and a Pennsylvania manufacturing facility back to Chobani for $925 million in pre-tax proceeds. Management said the cash will support deleveraging, potentially improving the company’s balance sheet following its acquisition of JDE Peet’s. Keurig Dr Pepper to sell back Chobani stake for $925 million
• Positive Sentiment: The transaction streamlines KDP’s operations ahead of its planned business split, allowing the company to focus capital and management attention on its core beverage businesses while monetizing a non-core investment and asset. Keurig Dr Pepper Advances Strategic Priorities Through Enhanced Partnership with Chobani
• Positive Sentiment: Despite selling its equity stake and facility, KDP is expanding its commercial relationship with Chobani. Chobani plans to invest approximately $1.2 billion in a Pennsylvania manufacturing campus, which should support a continuing strategic supply and distribution partnership. Chobani to Invest $1.2B in Pennsylvania Manufacturing Campus
• Neutral Sentiment: The deal removes KDP’s exposure to potential future gains from Chobani, and investors will still assess execution risks surrounding the planned corporate separation and the integration of JDE Peet’s. However, the upfront proceeds and debt-reduction objective are viewed as favorable for shareholder value. Keurig Dr Pepper to Sell Chobani Stake, Pennsylvania Campus for $925 Million

Keurig Dr Pepper 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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