Keurig Dr Pepper, Inc $KDP Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management reduced its Keurig Dr Pepper stake by 9.4%, selling 5.8 million shares and retaining nearly 55.9 million shares valued at approximately $1.83 billion. Institutional investors collectively own 93.99% of KDP.
• Keurig Dr Pepper reported quarterly EPS of $0.57, beating estimates by $0.03, while revenue reached $7.31 billion, up 75.6% year over year and above consensus expectations.
• Analyst sentiment remains positive, with an overall “Moderate Buy” rating and a consensus price target of $34.94; recent firms raised targets to between $38 and $40. KDP recently traded at $32.18.

Wellington Management Group LLP cut its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 9.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 55,939,797 shares of the company's stock after selling 5,801,596 shares during the period. Wellington Management Group LLP owned 4.11% of Keurig Dr Pepper worth $1,830,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Keurig Dr Pepper during the second quarter worth about $4,697,645,000. State Street Corp increased its stake in Keurig Dr Pepper by 1.6% during the 3rd quarter. State Street Corp now owns 64,594,706 shares of the company's stock worth $1,662,361,000 after buying an additional 986,700 shares during the period. Geode Capital Management LLC lifted its holdings in Keurig Dr Pepper by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock worth $887,021,000 after buying an additional 1,187,457 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Keurig Dr Pepper in the 4th quarter valued at about $727,667,000. Finally, Morgan Stanley boosted its position in Keurig Dr Pepper by 3.0% in the 4th quarter. Morgan Stanley now owns 25,357,596 shares of the company's stock valued at $710,266,000 after buying an additional 730,864 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Performance

KDP stock opened at $32.18 on Friday. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $33.82. The stock has a market capitalization of $43.79 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 1.42 and a beta of 0.40. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48. The stock's fifty day moving average is $31.24 and its two-hundred day moving average is $29.50.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same period last year, the firm posted $0.49 EPS. Keurig Dr Pepper's quarterly revenue was up 75.6% compared to the same quarter last year. On average, research analysts predict that Keurig Dr Pepper, Inc will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on KDP. Sanford C. Bernstein set a $39.00 price target on Keurig Dr Pepper in a research note on Wednesday, July 8th. UBS Group raised their price objective on Keurig Dr Pepper from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, August 7th. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a report on Thursday, August 13th. Barclays increased their target price on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. lifted 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 note on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $34.94.

Insider Activity

In other Keurig Dr Pepper news, Director Aaron E. Alt purchased 7,862 shares of the stock in a transaction dated Tuesday, August 25th. The shares were bought at an average cost of $31.83 per share, with a total value of $250,247.46. Following the completion of the acquisition, the director owned 7,862 shares of the company's stock, valued at approximately $250,247.46. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

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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