Keurig Dr Pepper, Inc $KDP Stake Boosted by Forvis Mazars Wealth Advisors LLC

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in Keurig Dr Pepper, Inc by 65.5%, owning 48,382 shares valued at approximately $1.66 million.
• Several institutional investors, including Vanguard Group and JPMorgan Chase, have significantly boosted their positions in Keurig Dr Pepper, collectively owning nearly 94% of the company's stock.
• Keurig Dr Pepper's recent earnings report indicated a 6.1% increase in quarterly revenue year-over-year, with earnings per share matching analysts' expectations at $0.49.

Forvis Mazars Wealth Advisors LLC raised its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 65.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,382 shares of the company's stock after acquiring an additional 19,145 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in Keurig Dr Pepper were worth $1,656,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in Keurig Dr Pepper by 51.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company's stock valued at $1,154,000 after acquiring an additional 11,435 shares during the period. Praxis Investment Management Inc. lifted its stake in shares of Keurig Dr Pepper by 112.2% during the first quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company's stock worth $672,000 after purchasing an additional 10,380 shares in the last quarter. Aspire Private Capital LLC acquired a new position in shares of Keurig Dr Pepper during the first quarter worth about $1,177,000. Envestnet Asset Management Inc. lifted its stake in shares of Keurig Dr Pepper by 13.7% during the first quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company's stock worth $96,609,000 after purchasing an additional 339,530 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Keurig Dr Pepper by 656.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 205,556 shares of the company's stock worth $7,034,000 after purchasing an additional 178,368 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Up 0.4%

Shares of NASDAQ:KDP traded up $0.1360 during trading on Friday, hitting $35.3360. The company's stock had a trading volume of 1,987,288 shares, compared to its average volume of 11,803,929. 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 fifty-two week low of $30.12 and a fifty-two week high of $38.28. The stock's 50-day moving average price is $33.67 and its two-hundred day moving average price is $33.61. The company has a market capitalization of $48.00 billion, a PE ratio of 31.55, a PEG ratio of 2.57 and a beta of 0.45.

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, hitting the consensus estimate of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company's revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts expect that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on KDP shares. JPMorgan Chase & Co. reduced their price objective on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $36.00 to $42.00 in a research note on Friday, April 25th. Barclays boosted their price objective on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Hsbc Global Res upgraded Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, UBS Group reduced their price objective on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.77.

Insider Activity at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $32.90, for a total value of $6,843,200.00. Following the completion of the sale, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 672,000 shares of company stock valued at $22,235,760 over the last three months. 0.40% of the stock is owned by insiders.

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.