Farther Finance Advisors LLC Boosts Stake in Keurig Dr Pepper, Inc $KDP

Key Points

• Farther Finance Advisors LLC increased its stake in Keurig Dr Pepper, Inc. by 116.2% during the second quarter, acquiring a total of 18,961 shares valued at approximately $627,000.
• Insider transactions saw Director Robert James Gamgort selling 208,000 shares at an average price of $32.90, resulting in an 8.32% decrease in his position.
• Keurig Dr Pepper's current stock ratings include ten "Buy" ratings, with an average target price of $36.23, while some analysts have downgraded the stock to "underperform."

Farther Finance Advisors LLC raised its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 116.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,961 shares of the company's stock after buying an additional 10,190 shares during the quarter. Farther Finance Advisors LLC's holdings in Keurig Dr Pepper were worth $627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KDP. Vanguard Group Inc. lifted its stake in Keurig Dr Pepper by 21.3% during the first 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 last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Keurig Dr Pepper by 108.1% in the 1st quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock worth $1,330,565,000 after purchasing an additional 20,196,835 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Keurig Dr Pepper by 981.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,514,608 shares of the company's stock worth $86,050,000 after purchasing an additional 2,282,050 shares in the last quarter. Seven Grand Managers LLC purchased a new position in shares of Keurig Dr Pepper in the 1st quarter worth about $51,330,000. Finally, Armistice Capital LLC purchased a new position in shares of Keurig Dr Pepper in the 1st quarter worth about $37,632,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $32.90, for a total value of $6,843,200.00. Following the completion of the transaction, the director owned 2,292,169 shares of the company's stock, valued at approximately $75,412,360.10. This represents a 8.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the transaction, the insider directly owned 82,511 shares of the company's stock, valued at $2,777,320.26. This represents a 12.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 447,601 shares of company stock valued at $14,825,192 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KDP has been the subject of a number of research reports. BNP Paribas Exane cut Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a report on Monday, September 22nd. JPMorgan Chase & Co. cut their price objective 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. BNP Paribas cut Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a report on Monday. HSBC reiterated a "hold" rating and issued a $30.00 price objective (down from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday, August 26th. Finally, Wells Fargo & Company lowered their target price on Keurig Dr Pepper from $40.00 to $33.00 and set an "overweight" rating for the company in a research note on Thursday. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $36.23.

Keurig Dr Pepper Trading Down 1.0%

NASDAQ KDP opened at $25.50 on Friday. Keurig Dr Pepper, Inc has a 1-year low of $25.40 and a 1-year high of $37.82. 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 50-day moving average of $30.94 and a 200-day moving average of $32.79. The firm has a market cap of $34.64 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.49 EPS for the quarter, meeting analysts' consensus estimates of $0.49. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.14 billion. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.Keurig Dr Pepper's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, sell-side analysts forecast that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.92 dividend on an annualized basis and a yield of 3.6%. Keurig Dr Pepper's dividend payout ratio is presently 82.14%.

About Keurig Dr Pepper

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.

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