Healthcare of Ontario Pension Plan Trust Fund Has $11.63 Million Stock Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Keurig Dr Pepper stake by 61.3% in the first quarter, selling 701,071 shares and retaining 441,689 shares valued at approximately $11.63 million. Institutional investors collectively own 93.99% of KDP.
• Analyst sentiment is mixed, with eight Buy ratings and nine Hold ratings, resulting in a consensus “Hold” rating and an average price target of $33.40. Citigroup recently raised its target to $37 and assigned a Buy rating.
• KDP shares opened at $31.08, while the company maintains a quarterly dividend of $0.23, equivalent to $0.92 annually and a 3.0% yield.

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 61.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 441,689 shares of the company's stock after selling 701,071 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Keurig Dr Pepper were worth $11,630,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in shares of Keurig Dr Pepper by 30.6% in the first quarter. NewEdge Advisors LLC now owns 15,488 shares of the company's stock worth $530,000 after purchasing an additional 3,627 shares during the last quarter. Empowered Funds LLC raised its position in Keurig Dr Pepper by 248.0% during the 1st quarter. Empowered Funds LLC now owns 69,801 shares of the company's stock worth $2,389,000 after purchasing an additional 49,741 shares during the last quarter. Woodline Partners LP raised its position in Keurig Dr Pepper by 49.2% during the 1st quarter. Woodline Partners LP now owns 100,870 shares of the company's stock worth $3,452,000 after purchasing an additional 33,258 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Keurig Dr Pepper during the 2nd quarter worth about $328,000. Finally, Jump Financial LLC lifted its holdings in Keurig Dr Pepper by 253.6% during the 2nd quarter. Jump Financial LLC now owns 76,089 shares of the company's stock worth $2,516,000 after buying an additional 54,571 shares during the period. Institutional investors own 93.99% of the company's stock.

Wall Street Analyst Weigh In

KDP has been the subject of a number of analyst reports. Zacks Research downgraded Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. BNP Paribas Exane upgraded shares of Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 price target on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company set a $37.00 target price on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Evercore set a $30.00 price target on shares of Keurig Dr Pepper in a research report on Friday, April 24th. Finally, Citigroup lifted their price objective on Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Keurig Dr Pepper presently has a consensus rating of "Hold" and an average price target of $33.40.

Keurig Dr Pepper Stock Up 3.2%

KDP stock opened at $31.08 on Wednesday. The firm has a market capitalization of $42.29 billion, a PE ratio of 23.02, a P/E/G ratio of 1.38 and a beta of 0.40. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94. The stock's 50 day moving average is $30.95 and its 200-day moving average is $28.96.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 annualized dividend and a yield of 3.0%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.