Norinchukin Bank The Increases Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Norinchukin Bank increased its stake in Keurig Dr Pepper, Inc by 53.7% in the first quarter, resulting in ownership of 92,939 shares valued at approximately $3.18 million.
• Several hedge funds, including Praxis Investment Management and Oppenheimer Asset Management, also significantly increased their holdings, with Oppenheimer boosting its position by 656.1%.
• Keurig Dr Pepper's earnings report for the last quarter showed a net revenue of $4.16 billion, exceeding forecasts, with an EPS of $0.49, aligning with analysts' expectations.

Norinchukin Bank The grew its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 53.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,939 shares of the company's stock after buying an additional 32,476 shares during the period. Norinchukin Bank The's holdings in Keurig Dr Pepper were worth $3,180,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Keurig Dr Pepper by 51.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company's stock valued at $1,154,000 after buying an additional 11,435 shares during the period. Praxis Investment Management Inc. grew its stake in shares of Keurig Dr Pepper by 112.2% in the 1st quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company's stock valued at $672,000 after buying an additional 10,380 shares during the period. Aspire Private Capital LLC acquired a new position in shares of Keurig Dr Pepper in the 1st quarter worth approximately $1,177,000. Envestnet Asset Management Inc. lifted its holdings in shares of Keurig Dr Pepper by 13.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company's stock worth $96,609,000 after acquiring an additional 339,530 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Keurig Dr Pepper by 656.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 205,556 shares of the company's stock worth $7,034,000 after acquiring an additional 178,368 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Trading Up 0.1%

NASDAQ KDP opened at $35.20 on Friday. 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 firm's fifty day moving average price is $33.67 and its 200 day moving average price is $33.61. The company has a market capitalization of $47.82 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.57 and a beta of 0.45. Keurig Dr Pepper, Inc has a 12 month low of $30.12 and a 12 month high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its 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 net margin of 9.75% and a return on equity of 11.05%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the firm posted $0.45 EPS. The company's revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KDP shares. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their target price for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Barclays increased their target price on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. UBS Group reduced their price objective on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.77.

Insiders Place Their Bets

In other news, Director De Ven Michael G. Van acquired 15,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Wednesday, June 4th. The stock was purchased at an average price of $33.20 per share, for a total transaction of $498,000.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $498,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert James Gamgort sold 208,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the completion of the sale, the director owned 2,292,169 shares of the company's stock, valued at approximately $75,412,360.10. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 672,000 shares of company stock valued at $22,235,760. Insiders own 0.40% of the company's stock.

Keurig Dr Pepper 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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