Keurig Dr Pepper, Inc (NASDAQ:KDP) Shares Bought by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. increased its stake in Keurig Dr Pepper by 80.5% during the first quarter, owning a total of 45,353 shares valued at $1,552,000.
• Insider trading activity includes Robert James Gamgort selling 208,000 shares for approximately $6.88 million, reducing his position by 7.31%.
• Keurig Dr Pepper reported a Q2 EPS of $0.49 and revenue of $4.16 billion, surpassing analyst estimates, with a year-over-year revenue increase of 6.1%.

Pinnacle Associates Ltd. grew its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 80.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,353 shares of the company's stock after purchasing an additional 20,230 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Keurig Dr Pepper were worth $1,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Townsquare Capital LLC raised its holdings in Keurig Dr Pepper by 2.1% during the fourth quarter. Townsquare Capital LLC now owns 15,734 shares of the company's stock worth $505,000 after purchasing an additional 327 shares in the last quarter. First American Bank increased its holdings in shares of Keurig Dr Pepper by 0.6% in the 1st quarter. First American Bank now owns 59,564 shares of the company's stock valued at $2,038,000 after acquiring an additional 344 shares during the period. Allworth Financial LP increased its holdings in shares of Keurig Dr Pepper by 3.8% in 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 during the period. New Age Alpha Advisors LLC increased its holdings in shares of Keurig Dr Pepper by 82.8% in the 4th quarter. New Age Alpha Advisors LLC now owns 859 shares of the company's stock valued at $28,000 after acquiring an additional 389 shares during the period. Finally, Citadel Investment Advisory Inc. increased its holdings 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 valued at $221,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $33.10, for a total transaction of $6,884,800.00. Following the sale, the director directly owned 2,638,490 shares in the company, valued at approximately $87,334,019. The trade was a 7.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $33.66, for a total transaction of $403,920.00. Following the sale, the insider owned 82,511 shares in the company, valued at $2,777,320.26. The trade was a 12.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 698,500 shares of company stock valued at $23,557,560 over the last 90 days. Company insiders own 0.40% of the company's stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $33.27 on Friday. The firm's fifty day moving average price is $33.27 and its 200 day moving average price is $33.27. Keurig Dr Pepper, Inc has a 1-year low of $30.12 and a 1-year high of $38.28. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.31. The firm has a market cap of $45.19 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 2.55 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The business's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. On average, sell-side analysts expect that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.77%. Keurig Dr Pepper's payout ratio is currently 82.14%.

Analyst Ratings Changes

A number of brokerages have recently commented on KDP. JPMorgan Chase & Co. cut their target price on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. HSBC raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and lifted their target price for the company from $36.00 to $42.00 in a report on Friday, April 25th. Morgan Stanley raised shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $38.00 to $40.00 in a report on Tuesday, April 1st. Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $35.00 to $40.00 in a report on Wednesday, April 9th. Finally, Hsbc Global Res raised shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.62.

About Keurig Dr Pepper

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.

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