Price T Rowe Associates Inc. MD Trims Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• Price T Rowe Associates Inc. MD has significantly reduced its holdings in Keurig Dr Pepper by 43.6%, now owning approximately 30.8 million shares valued at over $1 billion.
• A number of hedge funds increased their stakes in Keurig Dr Pepper, with Rockefeller Capital Management and GeoWealth Management boosting their holdings by 15.7% and 16.3%, respectively.
• Keurig Dr Pepper's stock performance includes a current market cap of $47.82 billion and a 12-month trading range between $30.12 and $38.28, with analysts maintaining a consensus rating of "Moderate Buy."

Price T Rowe Associates Inc. MD lessened its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 43.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,840,517 shares of the company's stock after selling 23,815,867 shares during the period. Price T Rowe Associates Inc. MD owned about 2.27% of Keurig Dr Pepper worth $1,055,364,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KDP. Rockefeller Capital Management L.P. increased its holdings in Keurig Dr Pepper by 15.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,577 shares of the company's stock valued at $403,000 after purchasing an additional 1,707 shares during the period. GeoWealth Management LLC grew its holdings in shares of Keurig Dr Pepper by 16.3% during the 4th quarter. GeoWealth Management LLC now owns 6,285 shares of the company's stock worth $202,000 after acquiring an additional 882 shares during the period. MML Investors Services LLC grew its holdings in shares of Keurig Dr Pepper by 10.8% during the 4th quarter. MML Investors Services LLC now owns 50,367 shares of the company's stock worth $1,618,000 after acquiring an additional 4,928 shares during the period. State of Tennessee Department of Treasury grew its holdings in shares of Keurig Dr Pepper by 8.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 361,297 shares of the company's stock worth $11,605,000 after acquiring an additional 28,897 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of Keurig Dr Pepper by 14.0% during the 4th quarter. Hsbc Holdings PLC now owns 2,313,747 shares of the company's stock worth $74,210,000 after acquiring an additional 284,397 shares during the period. Hedge funds and other institutional investors own 93.99% of the company's stock.

Analyst Upgrades and Downgrades

KDP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and upped their price target for the stock from $36.00 to $42.00 in a research note on Friday, April 25th. Barclays upped their price target on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Hsbc Global Res upgraded Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, UBS Group cut their price target on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.77.

Keurig Dr Pepper Stock Performance

KDP stock opened at $35.20 on Friday. The stock has a market capitalization of $47.82 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 2.57 and a beta of 0.45. Keurig Dr Pepper, Inc has a 12-month low of $30.12 and a 12-month high of $38.28. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. The stock's 50 day simple moving average is $33.67 and its 200 day simple moving average is $33.61.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $4.16 billion for the quarter, compared to analysts' expectations of $4.14 billion. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 EPS. As a group, research analysts forecast that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Insider Activity at Keurig Dr Pepper

In related news, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $32.90, for a total value of $6,843,200.00. Following the transaction, the director directly owned 2,292,169 shares of the company's stock, valued at approximately $75,412,360.10. This represents a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director De Ven Michael G. Van acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was acquired at an average cost of $33.20 per share, for a total transaction of $498,000.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at $498,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 672,000 shares of company stock valued at $22,235,760. 0.40% of the stock is owned by corporate insiders.

About Keurig Dr Pepper

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.

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 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.