Freestone Grove Partners LP Invests $122.64 Million in Keurig Dr Pepper, Inc $KDP

Key Points

• Freestone Grove Partners acquired 3.75 million Keurig Dr Pepper shares worth approximately $122.6 million, making KDP about 0.8% of its portfolio and giving it a 0.28% ownership stake.
• Keurig Dr Pepper reported quarterly EPS of $0.57, beating estimates by $0.03, while revenue rose 75.6% year over year to $7.31 billion.
• Analysts maintain a Moderate Buy consensus rating, with a consensus price target of $34.94 versus the stock’s reported price of $32.21; recent targets include $38 from Morgan Stanley and $39 from UBS and Bernstein.

Freestone Grove Partners LP acquired a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,746,929 shares of the company's stock, valued at approximately $122,637,000. Keurig Dr Pepper comprises about 0.8% of Freestone Grove Partners LP's investment portfolio, making the stock its 13th largest position. Freestone Grove Partners LP owned 0.28% of Keurig Dr Pepper at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KDP. Meeder Asset Management Inc. increased its position 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 purchasing an additional 759 shares during the last quarter. Activest Wealth Management lifted its holdings in shares of Keurig Dr Pepper by 5,642.1% during the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company's stock valued at $31,000 after buying an additional 1,072 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Keurig Dr Pepper during the 4th quarter valued at about $31,000. Rossby Financial LCC grew its stake in shares of Keurig Dr Pepper by 45.1% in the 4th quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after buying an additional 339 shares in the last quarter. Finally, GW&K Investment Management LLC grew its stake in shares of Keurig Dr Pepper by 67.6% in the 4th quarter. GW&K Investment Management LLC now owns 1,118 shares of the company's stock valued at $31,000 after buying an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Up 1.2%

KDP stock opened at $32.21 on Thursday. The stock has a market capitalization of $43.83 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 1.42 and a beta of 0.40. The company has a 50-day moving average of $31.18 and a two-hundred day moving average of $29.45. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $33.82. 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 posted its quarterly earnings data on Thursday, August 6th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%.The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The firm's revenue for the quarter was up 75.6% on a year-over-year basis. As a group, equities research analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on KDP. Sanford C. Bernstein set a $39.00 price objective on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. The Goldman Sachs Group upgraded shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday, June 25th. Morgan Stanley began coverage on shares of Keurig Dr Pepper in a report on Thursday, August 20th. They set an "overweight" rating and a $38.00 price target on the stock. UBS Group lifted their price objective on shares of Keurig Dr Pepper from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Zacks Research cut shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.94.

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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