Pictet Asset Management Holding SA Trims Stake in Keurig Dr Pepper, Inc $KDP

Key Points

• Pictet Asset Management trimmed its stake in Keurig Dr Pepper by 18% in Q4, selling 162,346 shares and now holds 741,260 shares (~0.05% ownership) valued at about $20.76 million.
• Wall Street’s consensus rating is a Moderate Buy with an average price target of $31.57; recent analyst targets range roughly $28–$37 while the stock trades around $29.09.
• KDP reported $0.39 EPS (beat by $0.02) with revenue up 9.4% YoY to $3.98 billion, and it pays a quarterly dividend of $0.23 (annualized yield ~3.2% with a ~68% payout ratio).

Pictet Asset Management Holding SA lessened its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 18.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 741,260 shares of the company's stock after selling 162,346 shares during the period. Pictet Asset Management Holding SA owned 0.05% of Keurig Dr Pepper worth $20,763,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new stake in shares of Keurig Dr Pepper in the 4th quarter valued at about $26,000. Root Financial Partners LLC bought a new position in shares of Keurig Dr Pepper in the third quarter worth approximately $26,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Keurig Dr Pepper by 102,300.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company's stock valued at $34,000 after purchasing an additional 1,023 shares in the last quarter. Clearstead Trust LLC lifted its position in Keurig Dr Pepper by 98.3% during the third quarter. Clearstead Trust LLC now owns 1,081 shares of the company's stock valued at $28,000 after purchasing an additional 536 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Keurig Dr Pepper by 71.7% during the third quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company's stock valued at $30,000 after purchasing an additional 484 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KDP shares. Citigroup decreased their price target on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. UBS Group lifted their price objective on shares of Keurig Dr Pepper from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Wells Fargo & Company cut 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 report on Wednesday, April 8th. BNP Paribas Exane raised Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 target price on the stock in a research note on Wednesday, April 22nd. Finally, Evercore set a $30.00 price target on Keurig Dr Pepper in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.57.

Keurig Dr Pepper Trading Down 1.1%

Shares of KDP opened at $29.09 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $39.58 billion, a P/E ratio of 21.55, a PEG ratio of 1.34 and a beta of 0.41. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94. The firm has a fifty day simple moving average of $27.48 and a two-hundred day simple moving average of $27.73.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $7.23 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. On average, research analysts anticipate that Keurig Dr Pepper, Inc will post 2.29 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Friday, March 27th were given a dividend of $0.23 per share. The ex-dividend date was Friday, March 27th. This represents a $0.92 dividend on an annualized basis and a yield of 3.2%. Keurig Dr Pepper's dividend payout ratio is 68.15%.

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.

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