Novare Capital Management LLC Invests $4.76 Million in Keurig Dr Pepper, Inc $KDP

Key Points

• Novare Capital Management LLC has invested approximately $4.76 million in Keurig Dr Pepper by acquiring 144,089 shares in the second quarter.
• Insider transactions indicate that Keurig Dr Pepper's director, Robert James Gamgort, sold 7,601 shares for nearly $273,000, reducing his ownership slightly.
• The company recently reported earnings of $0.49 per share for the last quarter, matching analysts’ expectations, with revenue increasing by 6.1% year-over-year.

Novare Capital Management LLC purchased a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 144,089 shares of the company's stock, valued at approximately $4,764,000.

Other institutional investors also recently made changes to their positions in the company. Amundi boosted its holdings in Keurig Dr Pepper by 7.7% during the first quarter. Amundi now owns 4,404,145 shares of the company's stock worth $156,920,000 after buying an additional 315,290 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Keurig Dr Pepper by 61.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 60,630 shares of the company's stock worth $2,075,000 after buying an additional 23,167 shares in the last quarter. Truist Financial Corp boosted its holdings in Keurig Dr Pepper by 15.2% during the second quarter. Truist Financial Corp now owns 302,093 shares of the company's stock worth $9,987,000 after buying an additional 39,916 shares in the last quarter. LBP AM SA boosted its holdings in Keurig Dr Pepper by 1,772.6% during the second quarter. LBP AM SA now owns 549,178 shares of the company's stock worth $18,156,000 after buying an additional 519,851 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Keurig Dr Pepper by 9.0% during the second quarter. State of Alaska Department of Revenue now owns 152,411 shares of the company's stock worth $5,038,000 after buying an additional 12,530 shares in the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 7,601 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the completion of the sale, the director owned 2,284,568 shares in the company, valued at $82,038,836.88. This represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 423,601 shares of company stock valued at $14,017,592. 0.40% of the stock is owned by corporate insiders.

Keurig Dr Pepper Stock Up 1.1%

Shares of NASDAQ:KDP opened at $28.03 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The company has a market cap of $38.08 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.53 and a beta of 0.43. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $37.27. The firm has a 50 day simple moving average of $28.74 and a 200 day simple moving average of $32.00.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, research analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a $0.23 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.92 dividend on an annualized basis and a yield of 3.3%. Keurig Dr Pepper's dividend payout ratio is presently 82.14%.

Analyst Upgrades and Downgrades

KDP has been the subject of a number of research reports. BNP Paribas cut shares of Keurig Dr Pepper from a "neutral" rating to an "underperform" rating in a report on Monday, September 22nd. Hsbc Global Res cut shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. The Goldman Sachs Group reduced their price target on shares of Keurig Dr Pepper from $34.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, October 2nd. Piper Sandler reduced their price target on shares of Keurig Dr Pepper from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Keurig Dr Pepper in a research report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $35.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.