Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• Mirae Asset Global Investments purchased 1.04 million shares of Keurig Dr Pepper worth approximately $31.7 million, acquiring a 0.08% stake. Institutional investors collectively own 93.99% of the company.
• Keurig Dr Pepper reported quarterly EPS of $0.57 and revenue of $7.31 billion, exceeding analyst estimates; revenue increased 75.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $36.12.
• The company pays a quarterly dividend of $0.23 per share, or $0.92 annually, representing a 2.5% yield. Recent insider activity included a director purchasing shares while a vice president sold 9,500 shares.

Mirae Asset Global Investments Co. Ltd. purchased a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,043,645 shares of the company's stock, valued at approximately $31,664,000. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Keurig Dr Pepper at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ProShare Advisors LLC raised its position in shares of Keurig Dr Pepper by 7.1% during the 3rd quarter. ProShare Advisors LLC now owns 1,578,334 shares of the company's stock valued at $47,887,000 after purchasing an additional 104,443 shares during the period. Vise Technologies Inc. lifted its stake in shares of Keurig Dr Pepper by 4.0% during the 3rd quarter. Vise Technologies Inc. now owns 14,081 shares of the company's stock valued at $427,000 after buying an additional 542 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in Keurig Dr Pepper by 9.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 13,088 shares of the company's stock worth $397,000 after buying an additional 1,126 shares during the period. Moss Adams Wealth Advisors LLC bought a new position in Keurig Dr Pepper in the 3rd quarter worth $273,000. Finally, MGO One Seven LLC boosted its holdings in Keurig Dr Pepper by 8.6% in the 3rd quarter. MGO One Seven LLC now owns 8,020 shares of the company's stock worth $243,000 after buying an additional 632 shares during the period. 93.99% of the stock is owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $36.82 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48. The firm has a fifty day moving average price of $32.54 and a 200 day moving average price of $30.03. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $36.95. The firm has a market cap of $50.11 billion, a price-to-earnings ratio of 37.19, a P/E/G ratio of 1.66 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. Keurig Dr Pepper's revenue for the quarter was up 75.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. As a group, sell-side analysts expect that Keurig Dr Pepper, Inc will post 2.30 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Monday, September 28th were given a dividend of $0.23 per share. The ex-dividend date was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.5%. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 92.93%.

Insider Activity

In other news, Director Aaron Alt bought 7,862 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average cost of $31.83 per share, with a total value of $250,247.46. Following the completion of the acquisition, the director owned 7,862 shares of the company's stock, valued at $250,247.46. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Angela Stephens sold 9,500 shares of Keurig Dr Pepper stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $32.70, for a total value of $310,650.00. Following the completion of the sale, the vice president directly owned 55,786 shares in the company, valued at $1,824,202.20. This trade represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KDP. UBS Group increased their price target on Keurig Dr Pepper from $38.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Keurig Dr Pepper from $30.00 to $32.00 and gave the company a "hold" rating in a research report on Friday, August 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $42.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their target price for the stock from $37.00 to $40.00 in a research report on Thursday, August 13th. Finally, Evercore lifted their target price on Keurig Dr Pepper from $30.00 to $32.00 in a research note on Thursday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.12.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc NASDAQ: KDP is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods.

The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.