KLP Kapitalforvaltning AS Raises Stock Position in Keurig Dr Pepper, Inc $KDP

Key Points

• KLP Kapitalforvaltning AS increased its stake in Keurig Dr Pepper, Inc by 8.1%, now holding 449,600 shares valued at approximately $14.95 million.
• The company has recently declared a $0.23 quarterly dividend set to be paid on October 10th, representing a 3.6% dividend yield.
• Keurig Dr Pepper reported a quarterly revenue of $4.16 billion, exceeding analyst estimates, with a net margin of 9.75% and an EPS of $0.49.

KLP Kapitalforvaltning AS grew its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 8.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 449,600 shares of the company's stock after buying an additional 33,800 shares during the period. KLP Kapitalforvaltning AS's holdings in Keurig Dr Pepper were worth $14,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of Keurig Dr Pepper in the 1st quarter worth about $25,000. Chung Wu Investment Group LLC bought a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth about $26,000. WPG Advisers LLC bought a new stake in shares of Keurig Dr Pepper in the 1st quarter worth about $43,000. Continuum Advisory LLC lifted its holdings in shares of Keurig Dr Pepper by 82.5% in the 1st quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock worth $46,000 after acquiring an additional 602 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in shares of Keurig Dr Pepper in the 1st quarter worth about $48,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Trading Up 1.0%

Shares of KDP opened at $25.58 on Thursday. Keurig Dr Pepper, Inc has a 1-year low of $25.03 and a 1-year high of $37.27. The company has a 50-day moving average of $29.67 and a 200 day moving average of $32.36. The firm has a market capitalization of $34.75 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.39 and a beta of 0.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a $0.23 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.6%. Keurig Dr Pepper's payout ratio is currently 82.14%.

Insider Activity

In other news, insider Mary Beth Denooyer sold 12,000 shares of the business'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 completion of the sale, the insider owned 82,511 shares in the company, valued at approximately $2,777,320.26. The trade was a 12.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert James Gamgort sold 7,601 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total transaction of $272,951.91. Following the completion of the sale, the director owned 2,284,568 shares of the company's stock, valued at approximately $82,038,836.88. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 435,601 shares of company stock valued at $14,421,512. Company insiders own 0.40% of the company's stock.

Analyst Ratings Changes

KDP has been the subject of several analyst reports. BNP Paribas Exane lowered shares of Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a report on Monday, September 22nd. Cowen restated a "hold" rating on shares of Keurig Dr Pepper in a report on Wednesday, October 1st. Barclays lowered shares of Keurig Dr Pepper from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $39.00 to $26.00 in a report on Wednesday, September 24th. Jefferies Financial Group set a $41.00 target price on shares of Keurig Dr Pepper in a report on Monday, August 25th. Finally, Wells Fargo & Company decreased their price objective on shares of Keurig Dr Pepper from $40.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Eleven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $35.00.

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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