Headlands Technologies LLC Acquires 59,330 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• Headlands Technologies LLC increased its stake in Keurig Dr Pepper by 41.4%, owning over 202,000 shares valued at approximately $6.9 million.
• Significant institutional interest is evident as 93.99% of Keurig Dr Pepper's shares are owned by institutional investors and hedge funds.
• Analysts have mixed projections, with price targets ranging from $38.00 to $42.00 and an average rating of "Moderate Buy" for the stock.

Headlands Technologies LLC lifted its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 41.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,578 shares of the company's stock after purchasing an additional 59,330 shares during the quarter. Keurig Dr Pepper comprises about 0.8% of Headlands Technologies LLC's investment portfolio, making the stock its 23rd largest holding. Headlands Technologies LLC's holdings in Keurig Dr Pepper were worth $6,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of KDP. Envestnet Asset Management Inc. increased its position in shares of Keurig Dr Pepper by 2.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,483,655 shares of the company's stock valued at $79,775,000 after purchasing an additional 60,467 shares during the period. Peapack Gladstone Financial Corp boosted its stake in Keurig Dr Pepper by 11.3% during the fourth quarter. Peapack Gladstone Financial Corp now owns 10,035 shares of the company's stock valued at $322,000 after buying an additional 1,016 shares in the last quarter. Bank of Montreal Can boosted its stake in Keurig Dr Pepper by 5.4% during the fourth quarter. Bank of Montreal Can now owns 1,332,954 shares of the company's stock valued at $42,814,000 after buying an additional 68,732 shares in the last quarter. Advisory Services Network LLC grew its holdings in Keurig Dr Pepper by 98.5% during the fourth quarter. Advisory Services Network LLC now owns 64,730 shares of the company's stock worth $2,079,000 after acquiring an additional 32,114 shares during the period. Finally, APG Asset Management N.V. raised its position in Keurig Dr Pepper by 205.4% in the fourth quarter. APG Asset Management N.V. now owns 865,200 shares of the company's stock worth $26,837,000 after acquiring an additional 581,900 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Argus began coverage on shares of Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a "buy" rating and a $40.00 price target for the company. Hsbc Global Res raised shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and raised their target price for the stock from $36.00 to $42.00 in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Finally, Barclays raised their price objective on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $39.77.

Keurig Dr Pepper Stock Up 1.5%

Keurig Dr Pepper stock traded up $0.52 during mid-day trading on Friday, hitting $34.42. The company's stock had a trading volume of 6,662,959 shares, compared to its average volume of 10,135,060. Keurig Dr Pepper, Inc has a 52-week low of $30.12 and a 52-week high of $38.28. The company has a market cap of $46.76 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.47 and a beta of 0.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. The firm's 50 day moving average is $33.31 and its 200 day moving average is $33.41.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.49. The business had revenue of $4.16 billion during 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 firm's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper's payout ratio is currently 82.14%.

Insider Activity

In other news, Director De Ven Michael G. Van bought 15,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were bought at an average cost of $33.20 per share, with a total value of $498,000.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $498,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $32.92, for a total value of $395,040.00. Following the sale, the insider directly owned 118,511 shares of the company's stock, valued at $3,901,382.12. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 672,000 shares of company stock worth $22,235,760 in the last ninety days. Corporate insiders own 0.40% of the company's stock.

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.