Hamlin Capital Management LLC Increases Holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• Hamlin Capital Management LLC increased its holdings in Keurig Dr Pepper, owning 4,386,023 shares after acquiring an additional 584,566 shares, making it the company's 20th largest stock position.
• Several institutional investors, including Bessemer Group Inc. and Rockefeller Capital Management L.P., also raised their stakes in Keurig Dr Pepper during the last quarter.
• Keurig Dr Pepper recently reported earnings of $0.49 per share, meeting analysts' expectations, with a revenue of $4.16 billion, up 6.1% year-over-year.

Hamlin Capital Management LLC increased its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,386,023 shares of the company's stock after acquiring an additional 584,566 shares during the quarter. Keurig Dr Pepper makes up about 3.6% of Hamlin Capital Management LLC's portfolio, making the stock its 20th biggest holding. Hamlin Capital Management LLC owned approximately 0.32% of Keurig Dr Pepper worth $150,090,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in Keurig Dr Pepper by 14.2% during the 4th quarter. Bessemer Group Inc. now owns 11,100 shares of the company's stock worth $356,000 after acquiring an additional 1,378 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Keurig Dr Pepper by 15.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,577 shares of the company's stock worth $403,000 after purchasing an additional 1,707 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Keurig Dr Pepper by 2.1% in the fourth quarter. Townsquare Capital LLC now owns 15,734 shares of the company's stock valued at $505,000 after purchasing an additional 327 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Keurig Dr Pepper during the 4th quarter worth approximately $251,000. Finally, Summit Investment Advisors Inc. increased its stake in Keurig Dr Pepper by 5.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 54,127 shares of the company's stock worth $1,739,000 after buying an additional 2,608 shares during the period. Hedge funds and other institutional investors own 93.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group dropped their price target on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and upped their price target for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price 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. Finally, Argus assumed coverage on shares of Keurig Dr Pepper in a research note on Wednesday, April 16th. They issued a "buy" rating and a $40.00 price target for the company. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.77.

Insiders Place Their Bets

In other news, Director De Ven Michael G. Van bought 15,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average price of $33.20 per share, with a total value of $498,000.00. Following the completion of the acquisition, the director directly owned 15,000 shares in the company, valued at approximately $498,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the transaction, the director owned 2,292,169 shares in the company, valued at approximately $75,412,360.10. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 672,000 shares of company stock valued at $22,235,760. 0.40% of the stock is owned by company insiders.

Keurig Dr Pepper Stock Up 0.0%

Shares of NASDAQ KDP opened at $34.82 on Thursday. The business has a 50-day moving average price of $33.42 and a 200 day moving average price of $33.49. The stock has a market cap of $47.30 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 2.54 and a beta of 0.45. The company has a quick ratio of 0.40, a current ratio of 0.64 and a debt-to-equity ratio of 0.56. Keurig Dr Pepper, Inc has a 52-week low of $30.12 and a 52-week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The company's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS. Equities research analysts forecast that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper's payout ratio is 82.14%.

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.

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