Keurig Dr Pepper, Inc $KDP Stake Lifted by Park Avenue Securities LLC

Key Points

• Park Avenue Securities increased its Keurig Dr Pepper stake by 455.3% in the third quarter, bringing its holdings to 117,348 shares valued at approximately $3.56 million. Institutional investors collectively own 93.99% of the company.
• Analysts maintain a “Moderate Buy” consensus on KDP, with 10 Buy ratings and nine Holds and an average price target of $36.12. The company recently exceeded quarterly earnings and revenue estimates, reporting $0.57 EPS and $7.31 billion in revenue.
• KDP shares opened at $35.30, near their 52-week high, while the company paid a quarterly dividend of $0.23 per share, representing a 2.6% annualized yield. Two company insiders recently sold shares, and insiders own 0.34% of the stock.

Park Avenue Securities LLC boosted its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 455.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,348 shares of the company's stock after acquiring an additional 96,217 shares during the period. Park Avenue Securities LLC's holdings in Keurig Dr Pepper were worth $3,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in KDP. BlackRock Inc. purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth approximately $4,697,645,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Keurig Dr Pepper during the second quarter valued at approximately $767,105,000. Dimensional Fund Advisors LP increased its holdings in Keurig Dr Pepper by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 9,585,791 shares of the company's stock valued at $252,408,000 after buying an additional 103,505 shares during the period. Bank of America Corp DE bought a new position in Keurig Dr Pepper in the second quarter worth approximately $281,503,000. Finally, Legal & General Group Plc bought a new position in Keurig Dr Pepper in the second quarter worth approximately $269,336,000. Hedge funds and other institutional investors own 93.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Sanford C. Bernstein set a $39.00 target price on Keurig Dr Pepper in a research report on Wednesday, July 8th. Morgan Stanley started coverage on Keurig Dr Pepper in a research note on Thursday, August 20th. They set an "overweight" rating and a $38.00 price target on the stock. UBS Group upped their price target 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Keurig Dr Pepper in a report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Keurig Dr Pepper from $30.00 to $32.00 and gave the stock a "hold" rating in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.12.

Insider Buying and Selling at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $32.55, for a total transaction of $390,600.00. Following the completion of the transaction, the insider owned 84,171 shares of the company's stock, valued at $2,739,766.05. This trade represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Angela A. Stephens sold 9,500 shares of the firm's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $32.70, for a total transaction of $310,650.00. Following the transaction, the vice president directly owned 55,786 shares of the company's stock, valued at approximately $1,824,202.20. This trade represents a 14.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.34% of the company's stock.

Keurig Dr Pepper Stock Up 1.1%

Shares of KDP stock opened at $35.30 on Friday. The stock's 50-day simple moving average is $32.36 and its 200-day simple moving average is $29.95. 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 firm has a market capitalization of $48.04 billion, a PE ratio of 35.66, a P/E/G ratio of 1.66 and a beta of 0.40. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $35.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%. The company's revenue was up 75.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. Equities analysts expect that Keurig Dr Pepper, Inc will post 2.30 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Monday, September 28th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, September 28th. Keurig Dr Pepper's payout ratio is presently 92.93%.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc NASDAQ: KDP is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.

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