APG Asset Management N.V. Lowers Position in Keurig Dr Pepper, Inc $KDP

Key Points

• APG Asset Management N.V. has decreased its stake in Keurig Dr Pepper, Inc by 6.4%, now owning 809,500 shares worth approximately $25.6 million.
• Institutional investors hold 93.99% of Keurig Dr Pepper's stock, with several funds increasing their positions significantly in the 1st quarter of 2023.
• Recent analyst ratings for the stock show a consensus of "Moderate Buy" with a target price of $39.77, while earnings for the last quarter met estimates at $0.49 per share.

APG Asset Management N.V. cut its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 809,500 shares of the company's stock after selling 55,700 shares during the quarter. APG Asset Management N.V. owned about 0.06% of Keurig Dr Pepper worth $25,644,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in KDP. Commerce Bank lifted its stake in Keurig Dr Pepper by 1.6% in the first quarter. Commerce Bank now owns 21,513 shares of the company's stock worth $736,000 after purchasing an additional 340 shares during the last quarter. First American Bank increased its position in Keurig Dr Pepper by 0.6% during the 1st quarter. First American Bank now owns 59,564 shares of the company's stock valued at $2,038,000 after purchasing an additional 344 shares during the period. Allworth Financial LP boosted its position in Keurig Dr Pepper by 3.8% during the 1st quarter. Allworth Financial LP now owns 10,242 shares of the company's stock valued at $353,000 after acquiring an additional 371 shares in the last quarter. Citadel Investment Advisory Inc. grew its position in shares of Keurig Dr Pepper by 6.6% in the 1st quarter. Citadel Investment Advisory Inc. now owns 6,445 shares of the company's stock worth $221,000 after buying an additional 400 shares during the period. Finally, Hartford Funds Management Co LLC boosted its holdings in Keurig Dr Pepper by 1.2% in the first quarter. Hartford Funds Management Co LLC now owns 34,497 shares of the company's stock worth $1,180,000 after acquiring an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock traded down $0.43 during mid-day trading on Thursday, reaching $29.29. 21,955,438 shares of the company's stock traded hands, compared to its average volume of 12,570,265. The company has a market cap of $39.79 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.96 and a beta of 0.45. Keurig Dr Pepper, Inc has a 12-month low of $28.70 and a 12-month high of $38.28. The company has a quick ratio of 0.40, a current ratio of 0.64 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $33.52 and a two-hundred day moving average of $33.61.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Jefferies Financial Group set a $41.00 target price on shares of Keurig Dr Pepper in a research note on Monday. HSBC reaffirmed a "hold" rating and set a $30.00 price target (down previously from $42.00) on shares of Keurig Dr Pepper in a report on Tuesday. Hsbc Global Res downgraded shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on 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. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Keurig Dr Pepper has an average rating of "Moderate Buy" and a consensus price target of $38.38.

Insider Buying and Selling at Keurig Dr Pepper

In other 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 transaction, the insider directly owned 82,511 shares in the company, valued at approximately $2,777,320.26. This represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of the company'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 completion of the transaction, the director owned 2,292,169 shares in the company, valued at $75,412,360.10. This represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 679,601 shares of company stock worth $22,508,712 over the last 90 days. Company insiders own 0.40% of the company's stock.

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.