Munich Reinsurance Co Stock Corp in Munich Sells 345,659 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Munich Reinsurance reduced its Keurig Dr Pepper stake by 10% in the second quarter, selling 345,659 shares and retaining 3.1 million shares worth approximately $101.7 million.
• Keurig Dr Pepper reported quarterly EPS of $0.57, exceeding estimates of $0.54, while revenue reached $7.31 billion and rose 75.6% year over year.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $34.94; shares recently traded at $32.04.

Munich Reinsurance Co Stock Corp in Munich lowered its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,105,865 shares of the company's stock after selling 345,659 shares during the period. Keurig Dr Pepper comprises 2.3% of Munich Reinsurance Co Stock Corp in Munich's holdings, making the stock its 9th largest position. Munich Reinsurance Co Stock Corp in Munich owned 0.23% of Keurig Dr Pepper worth $101,655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock worth $4,508,456,000 after acquiring an additional 1,538,456 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter valued at approximately $4,697,645,000. State Street Corp grew its position in shares of Keurig Dr Pepper by 1.6% in the 3rd quarter. State Street Corp now owns 64,594,706 shares of the company's stock valued at $1,662,361,000 after purchasing an additional 986,700 shares during the period. Wellington Management Group LLP increased its stake in Keurig Dr Pepper by 37.0% during the 4th quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock worth $1,596,664,000 after purchasing an additional 15,393,753 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Keurig Dr Pepper by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock worth $887,021,000 after purchasing an additional 1,187,457 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Stock Up 1.2%

Shares of NASDAQ KDP traded up $0.38 during trading hours on Friday, hitting $32.04. The company had a trading volume of 9,189,793 shares, compared to its average volume of 13,006,722. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.59. The company has a quick ratio of 0.28, a current ratio of 0.48 and a debt-to-equity ratio of 0.74. The firm's 50 day moving average is $31.15 and its 200-day moving average is $29.35. The stock has a market capitalization of $43.60 billion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 1.41 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 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $7.31 billion during the quarter, compared to analysts' expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The company's revenue for the quarter was up 75.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 earnings per share. On average, analysts expect that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KDP has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Sanford C. Bernstein set a $39.00 price objective on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. Barclays upped their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Zacks Research cut 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 Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday, June 25th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $34.94.

Keurig Dr Pepper Company Profile

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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