King Luther Capital Management Corp Purchases 596,423 Shares of Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• King Luther Capital Management Corp has increased its stake in Keurig Dr Pepper, Inc by 40.6%, owning over 2 million shares valued at approximately $70.6 million.
• Analysts have raised their price targets for Keurig Dr Pepper, with HSBC upgrading it to a "buy" and increasing the target price to $42.00.
• The company recently declared a quarterly dividend of $0.23 per share, providing an annual yield of 2.7% with a payout ratio of 82.14%.

King Luther Capital Management Corp grew its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 40.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,064,041 shares of the company's stock after acquiring an additional 596,423 shares during the quarter. King Luther Capital Management Corp owned about 0.15% of Keurig Dr Pepper worth $70,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. increased its holdings in shares of Keurig Dr Pepper by 1.7% during the first quarter. Invesco Ltd. now owns 21,973,128 shares of the company's stock valued at $751,920,000 after acquiring an additional 367,518 shares in the last quarter. Fiduciary Family Office LLC bought a new stake in shares of Keurig Dr Pepper during the first quarter valued at approximately $345,000. Benjamin Edwards Inc. grew its holdings in Keurig Dr Pepper by 29.0% during the first quarter. Benjamin Edwards Inc. now owns 22,214 shares of the company's stock worth $760,000 after buying an additional 4,996 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Keurig Dr Pepper by 108.1% during the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock worth $1,330,565,000 after buying an additional 20,196,835 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its holdings in Keurig Dr Pepper by 3.6% during the first quarter. Frank Rimerman Advisors LLC now owns 14,149 shares of the company's stock worth $484,000 after buying an additional 498 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

Analysts Set New Price Targets

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

Keurig Dr Pepper Stock Up 1.5%

Shares of NASDAQ KDP opened at $34.42 on Friday. Keurig Dr Pepper, Inc has a one year low of $30.12 and a one 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 0.40. The business's fifty day moving average price is $33.31 and its 200-day moving average price is $33.43. The stock has a market capitalization of $46.76 billion, a PE ratio of 30.73, a P/E/G ratio of 2.51 and a beta of 0.45.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.49 EPS for the quarter, meeting analysts' consensus estimates of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%. The firm 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 for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

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

Insider Buying and Selling

In other news, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.66, for a total transaction of $403,920.00. Following the completion of the sale, the insider owned 82,511 shares in the company, valued at approximately $2,777,320.26. This trade represents a 12.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director De Ven Michael G. Van purchased 15,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average price of $33.20 per share, with a total value of $498,000.00. Following the transaction, the director owned 15,000 shares in the company, valued at approximately $498,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 672,000 shares of company stock valued at $22,235,760. Corporate insiders own 0.40% of the company's stock.

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.

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