Northwestern Mutual Wealth Management Co. Sells 42,342 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Northwestern Mutual Wealth Management cut its Keurig Dr Pepper holdings by 63.9%, selling 42,342 shares and retaining 23,929 shares worth approximately $783,000. Institutional investors collectively own 93.99% of the company.
• 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. Shares opened at $32.59, near the company’s 52-week high of $33.82.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $34.94; recent targets range from $38 to $42. Insider activity was mixed, with a director purchasing shares while a vice president sold 9,500 shares.

Northwestern Mutual Wealth Management Co. reduced its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 63.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,929 shares of the company's stock after selling 42,342 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Keurig Dr Pepper were worth $783,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KDP. New Mexico Educational Retirement Board boosted its holdings in shares of Keurig Dr Pepper by 8.5% in the 2nd quarter. New Mexico Educational Retirement Board now owns 67,700 shares of the company's stock worth $2,216,000 after purchasing an additional 5,300 shares in the last quarter. Mufg Securities Americas Inc. raised its position in Keurig Dr Pepper by 9.0% during the 2nd quarter. Mufg Securities Americas Inc. now owns 40,978 shares of the company's stock valued at $1,341,000 after purchasing an additional 3,385 shares during the last quarter. Van ECK Associates Corp lifted its stake in Keurig Dr Pepper by 153.1% in the second quarter. Van ECK Associates Corp now owns 84,452 shares of the company's stock worth $2,764,000 after acquiring an additional 51,085 shares during the period. Nissay Asset Management Corp Japan boosted its stake in shares of Keurig Dr Pepper by 6.3% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 396,430 shares of the company's stock valued at $12,975,000 after purchasing an additional 23,614 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Keurig Dr Pepper by 37.7% in the 2nd quarter. Hsbc Holdings PLC now owns 3,252,088 shares of the company's stock worth $107,163,000 after acquiring an additional 890,861 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP opened at $32.59 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $33.82. The firm has a fifty day moving average price of $31.29 and a 200-day moving average price of $29.60. The stock has a market cap of $44.35 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 1.54 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results 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 quarter in the prior year, the business posted $0.49 EPS. Keurig Dr Pepper's revenue for the quarter was up 75.6% compared to the same quarter last year. Equities analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Keurig Dr Pepper

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. Zacks Research downgraded shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Royal Bank Of Canada reissued an "outperform" rating and set a $42.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, August 4th. Sanford C. Bernstein set a $39.00 price objective on Keurig Dr Pepper in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group raised Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research report on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Keurig Dr Pepper 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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