First Trust Advisors LP Acquires 54,767 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• First Trust Advisors increased its Keurig Dr Pepper stake by 2.7%, purchasing 54,767 additional shares for a total of 2.12 million shares valued at approximately $55.7 million. Institutional investors collectively own 93.99% of KDP.
• Analyst sentiment remains mixed, with eight Buy ratings and nine Holds resulting in a consensus Hold rating and an average price target of $33.40. Recent price targets range from $28 to $38.
• KDP reported quarterly EPS of $0.39, exceeding estimates by $0.02, while revenue rose 9.4% year over year to $3.98 billion. The company also maintains a quarterly dividend of $0.23 per share, equivalent to a 3.1% annual yield.

First Trust Advisors LP increased its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,115,514 shares of the company's stock after buying an additional 54,767 shares during the quarter. First Trust Advisors LP owned 0.16% of Keurig Dr Pepper worth $55,701,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in Keurig Dr Pepper by 290.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company's stock valued at $1,475,000 after purchasing an additional 39,156 shares in the last quarter. Merit Financial Group LLC grew its holdings in Keurig Dr Pepper by 194.6% during the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company's stock valued at $2,438,000 after purchasing an additional 57,500 shares during the period. PNC Financial Services Group Inc. increased its position in Keurig Dr Pepper by 47.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company's stock worth $5,030,000 after buying an additional 57,797 shares in the last quarter. Principal Financial Group Inc. increased its position in Keurig Dr Pepper by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company's stock worth $43,489,000 after buying an additional 47,184 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Keurig Dr Pepper by 4,366.8% in the fourth quarter. M&T Bank Corp now owns 1,370,428 shares of the company's stock worth $38,386,000 after buying an additional 1,339,748 shares during the period. 93.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KDP shares. Wells Fargo & Company set a $37.00 price objective on Keurig Dr Pepper in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, March 30th. JPMorgan Chase & Co. upped their price target on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday. UBS Group increased their price objective on shares of Keurig Dr Pepper from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Finally, Evercore set a $30.00 price objective on shares of Keurig Dr Pepper in a research report on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $33.40.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $29.68 on Monday. The business's 50 day moving average is $30.89 and its 200 day moving average is $28.92. The company has a market capitalization of $40.38 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.40. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $35.94. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the prior year, the company posted $0.42 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts expect that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper's payout ratio is currently 68.15%.

Keurig Dr Pepper Company 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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