Korea Investment CORP Decreases Stake in Keurig Dr Pepper, Inc $KDP

Key Points

• Korea Investment CORP has reduced its stake in Keurig Dr Pepper, Inc by 20.7%, now holding approximately 740,315 shares valued at $25.33 million.
• Analysts generally hold a positive outlook on the stock, with a consensus rating of "Moderate Buy" and a target price of $39.77, despite mixed revisions in price targets from firms like UBS and HSBC.
• Company insiders have been active, with Director Michael G. Van acquiring 15,000 shares at $33.20 per share, increasing their position, while another insider sold 12,000 shares, indicating diverse insider sentiment.

Korea Investment CORP lowered its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 740,315 shares of the company's stock after selling 193,433 shares during the quarter. Korea Investment CORP owned about 0.05% of Keurig Dr Pepper worth $25,334,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Northern Trust Corp boosted its position in Keurig Dr Pepper by 0.8% during the first quarter. Northern Trust Corp now owns 13,712,677 shares of the company's stock valued at $469,248,000 after acquiring an additional 114,044 shares during the last quarter. Raymond James Financial Inc. boosted its position in Keurig Dr Pepper by 8.6% during the first quarter. Raymond James Financial Inc. now owns 1,961,160 shares of the company's stock valued at $67,111,000 after acquiring an additional 155,562 shares during the last quarter. Cresset Asset Management LLC boosted its position in Keurig Dr Pepper by 1.4% during the first quarter. Cresset Asset Management LLC now owns 71,770 shares of the company's stock valued at $2,472,000 after acquiring an additional 966 shares during the last quarter. Forvis Mazars Wealth Advisors LLC boosted its position in Keurig Dr Pepper by 65.5% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 48,382 shares of the company's stock valued at $1,656,000 after acquiring an additional 19,145 shares during the last quarter. Finally, Ethic Inc. boosted its position in Keurig Dr Pepper by 2.1% during the first quarter. Ethic Inc. now owns 195,590 shares of the company's stock valued at $6,840,000 after acquiring an additional 4,096 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Down 0.2%

Shares of KDP stock traded down $0.07 on Friday, reaching $35.13. 5,121,713 shares of the company were exchanged, compared to its average volume of 8,519,518. The company has a market cap of $47.72 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 2.57 and a beta of 0.45. The company has a 50-day moving average of $33.71 and a 200-day moving average of $33.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. Keurig Dr Pepper, Inc has a one year low of $30.12 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.49. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The company had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The business's revenue was up 6.1% on a year-over-year basis. Analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $33.66, for a total value of $403,920.00. Following the sale, the insider owned 82,511 shares in the company, valued at $2,777,320.26. This represents a 12.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert James Gamgort sold 7,601 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $35.91, for a total transaction of $272,951.91. Following the completion of the sale, the director owned 2,284,568 shares in the company, valued at $82,038,836.88. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 679,601 shares of company stock worth $22,508,712 in the last quarter. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Keurig Dr Pepper Company 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.