Oppenheimer Asset Management Inc. Invests $5.87 Million in Keurig Dr Pepper, Inc $KDP

Key Points

• Oppenheimer Asset Management initiated a $5.87 million position in Keurig Dr Pepper during the second quarter by purchasing 179,480 shares. Institutional investors collectively own 93.99% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $34.75; individual targets include $37 from Wells Fargo and $42 from RBC.
• Keurig Dr Pepper exceeded quarterly expectations, reporting $0.57 in EPS and $7.31 billion in revenue, while paying a quarterly dividend of $0.23 per share, equivalent to a 2.9% annualized yield.

Oppenheimer Asset Management Inc. bought a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 179,480 shares of the company's stock, valued at approximately $5,874,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position 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 purchasing an additional 1,538,456 shares during the period. State Street Corp lifted 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 worth $1,662,361,000 after purchasing an additional 986,700 shares during the period. Wellington Management Group LLP boosted its stake in shares of 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 valued at $1,596,664,000 after purchasing an additional 15,393,753 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 valued at $887,021,000 after purchasing an additional 1,187,457 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of Keurig Dr Pepper during the fourth quarter valued at about $727,667,000. Institutional investors own 93.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on KDP. Weiss Ratings restated a "hold (c)" rating on shares of Keurig Dr Pepper in a report on Friday, August 7th. Zacks Research downgraded Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Wells Fargo & Company set a $37.00 target price on Keurig Dr Pepper in a research report on Wednesday, July 1st. Royal Bank Of Canada restated an "outperform" rating and issued a $42.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group upgraded Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research report on Thursday, June 25th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.75.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $31.44 on Friday. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $35.94. The firm's 50-day simple moving average is $31.17 and its two-hundred day simple moving average is $29.22. The stock has a market cap of $42.78 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same period last year, the business earned $0.49 earnings per share. The business's revenue was up 75.6% on a year-over-year basis. Analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. Keurig Dr Pepper's payout ratio is presently 92.93%.

About Keurig Dr Pepper

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.

Want to see what other hedge funds are holding KDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source