OP Asset Management Ltd Takes Position in Keurig Dr Pepper, Inc $KDP

Key Points

• OP Asset Management initiated a new position in Keurig Dr Pepper, buying 131,823 shares valued at about $3.47 million in the first quarter.
• The stock was up 3.0% in Friday trading, with Keurig Dr Pepper opening at $33.48 and carrying a market cap of about $45.56 billion.
• KDP recently posted Q1 earnings of $0.39 per share, beating estimates, and it also announced a quarterly dividend of $0.23 per share, implying a 2.7% annual yield.

OP Asset Management Ltd acquired a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 131,823 shares of the company's stock, valued at approximately $3,471,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Keurig Dr Pepper by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock valued at $4,508,456,000 after buying an additional 1,538,456 shares during the last quarter. State Street Corp raised its holdings in shares of Keurig Dr Pepper by 1.6% in the third quarter. State Street Corp now owns 64,594,706 shares of the company's stock worth $1,662,361,000 after acquiring an additional 986,700 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Keurig Dr Pepper by 37.0% in the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock valued at $1,596,664,000 after acquiring an additional 15,393,753 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Keurig Dr Pepper by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock valued at $887,021,000 after acquiring an additional 1,187,457 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Keurig Dr Pepper during the fourth quarter valued at $727,667,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Trading Up 3.0%

NASDAQ KDP opened at $33.48 on Friday. The company has a market cap of $45.56 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.49 and a beta of 0.41. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The company has a 50-day moving average of $29.66 and a 200-day moving average of $28.50.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $7.23 billion. During the same period last year, the company earned $0.42 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts predict that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 26th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, June 26th. Keurig Dr Pepper's dividend payout ratio (DPR) is 68.15%.

Analyst Ratings Changes

KDP has been the subject of several analyst reports. Evercore set a $30.00 target price on shares of Keurig Dr Pepper in a research note on Friday, April 24th. Weiss Ratings raised shares of Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. Wells Fargo & Company lowered their target price on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Finally, Sanford C. Bernstein initiated coverage on Keurig Dr Pepper in a report on Thursday, June 11th. They issued an "outperform" rating and a $38.00 price target for the company. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Keurig Dr Pepper presently has an average rating of "Hold" and an average target price of $32.40.

Keurig Dr Pepper 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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