DoubleLine ETF Adviser LP Sells 9,032 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• DoubleLine ETF Adviser LP has reduced its stake in Keurig Dr Pepper, Inc. by 14.2%, now holding 54,667 shares worth approximately $1.87 million, according to its latest 13F filing.
• Several institutional investors, including Cinctive Capital Management and AQR Capital Management, have made significant adjustments to their positions in Keurig Dr Pepper, indicating strong interest from large investors.
• Keurig Dr Pepper's shares were recently trading at $29.09, with a 12-month range between $28.58 and $38.28, while the company reported a net margin of 9.75% and a revenue increase of 6.1% year-over-year.

DoubleLine ETF Adviser LP cut its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 14.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,667 shares of the company's stock after selling 9,032 shares during the period. DoubleLine ETF Adviser LP's holdings in Keurig Dr Pepper were worth $1,871,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KDP. Vanguard Group Inc. boosted its stake in shares of Keurig Dr Pepper by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company's stock worth $4,962,338,000 after purchasing an additional 25,425,644 shares during the period. JPMorgan Chase & Co. grew its holdings in Keurig Dr Pepper by 108.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock valued at $1,330,565,000 after purchasing an additional 20,196,835 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Keurig Dr Pepper by 981.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,514,608 shares of the company's stock valued at $86,050,000 after purchasing an additional 2,282,050 shares during the last quarter. Seven Grand Managers LLC bought a new position in Keurig Dr Pepper during the 1st quarter valued at about $51,330,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Keurig Dr Pepper by 15.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,260,957 shares of the company's stock valued at $297,462,000 after purchasing an additional 1,258,062 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Trading Down 2.1%

Keurig Dr Pepper stock traded down $0.60 during trading hours on Friday, hitting $28.65. The company had a trading volume of 21,094,736 shares, compared to its average volume of 18,428,686. The firm has a market cap of $38.92 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.57 and a beta of 0.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. Keurig Dr Pepper, Inc has a 1 year low of $28.58 and a 1 year high of $38.28. The company has a 50-day moving average price of $32.94 and a two-hundred day moving average price of $33.49.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced 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. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The firm had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The company's revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KDP. Barclays upped their price target on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, July 28th. UBS Group cut their price target on shares of Keurig Dr Pepper from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, August 27th. JPMorgan Chase & Co. cut their price target on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. HSBC reiterated a "hold" rating and set a $30.00 price target (down from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday, August 26th. Finally, Jefferies Financial Group set a $41.00 price objective on shares of Keurig Dr Pepper in a research report on Monday, August 25th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and an average target price of $38.38.

Insider Activity at Keurig Dr Pepper

In other news, Director Robert James Gamgort sold 7,601 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were 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. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $33.66, for a total transaction of $403,920.00. Following the completion of the sale, the insider directly owned 82,511 shares of the company's stock, valued at $2,777,320.26. The trade was a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 459,601 shares of company stock valued at $15,228,872 in the last ninety days. Corporate insiders own 0.40% of the company's stock.

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.