Manning & Napier Advisors LLC Invests $4.28 Million in Keurig Dr Pepper, Inc $KDP

Key Points

• Manning & Napier Advisors purchased 127,806 shares of Keurig Dr Pepper in the second quarter, valued at approximately $4.28 million. Institutional investors collectively own 93.99% of KDP’s outstanding shares.
• Analyst sentiment is generally positive: 11 analysts rate KDP a Buy and eight rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of $34.94.
• Keurig Dr Pepper exceeded quarterly expectations, reporting $0.57 in EPS versus the $0.54 consensus and $7.31 billion in revenue. Revenue increased 75.6% year over year.

Manning & Napier Advisors LLC purchased a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 127,806 shares of the company's stock, valued at approximately $4,282,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in Keurig Dr Pepper by 358.0% during the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company's stock worth $26,000 after buying an additional 759 shares during the last quarter. Activest Wealth Management increased its holdings in shares of Keurig Dr Pepper by 5,642.1% in the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company's stock valued at $31,000 after acquiring an additional 1,072 shares during the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of Keurig Dr Pepper in the 4th quarter valued at approximately $31,000. Rossby Financial LCC raised its position in shares of Keurig Dr Pepper by 45.1% during the 4th quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after acquiring an additional 339 shares in the last quarter. Finally, GW&K Investment Management LLC raised its position in shares of Keurig Dr Pepper by 67.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,118 shares of the company's stock valued at $31,000 after acquiring an additional 451 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on KDP. HSBC raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a report on Thursday, August 13th. Wells Fargo & Company set a $37.00 target price on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Morgan Stanley began coverage on shares of Keurig Dr Pepper in a research report on Thursday. They issued an "overweight" rating and a $38.00 price target on the stock. Zacks Research lowered shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Finally, The Goldman Sachs Group raised shares of Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research report on Thursday, June 25th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.94.

Keurig Dr Pepper Stock Performance

KDP opened at $32.51 on Tuesday. The business's 50 day moving average is $31.16 and its 200-day moving average is $29.40. The stock has a market cap of $44.24 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $33.82.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%.The business had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same period in the prior year, the company posted $0.49 EPS. The business's revenue for the quarter was up 75.6% compared to the same quarter last year. On average, analysts predict that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current year.

About Keurig Dr Pepper

Keurig Dr Pepper NASDAQ: KDP is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig's single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company's product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.

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