Rakuten Investment Management Inc. Buys New Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Rakuten Investment Management initiated a Keurig Dr Pepper position of 323,787 shares worth approximately $10.85 million in the second quarter. Institutional investors collectively own 93.99% of KDP.
• Keurig Dr Pepper exceeded quarterly expectations, reporting $0.57 in earnings per share versus the $0.54 consensus and $7.31 billion in revenue, up 75.6% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $34.94 compared with the stock’s reported $32.18 price; recent targets range from $37 to $42.

Rakuten Investment Management Inc. bought a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 323,787 shares of the company's stock, valued at approximately $10,847,000.

Several other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake in shares of Keurig Dr Pepper during the 2nd quarter valued at $2,666,000. United Capital Financial Advisors LLC purchased a new stake in shares of Keurig Dr Pepper in the 2nd quarter worth $653,000. Public Employees Retirement System of Ohio bought a new position in Keurig Dr Pepper in the 2nd quarter worth $12,103,000. Transamerica Financial Advisors LLC bought a new position in Keurig Dr Pepper in the 2nd quarter worth $158,000. Finally, Corient Private Wealth LP purchased a new position in Keurig Dr Pepper during the second quarter valued at $2,952,000. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Price Performance

NASDAQ:KDP opened at $32.18 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.48 and a debt-to-equity ratio of 0.74. The business's 50-day simple moving average is $31.24 and its two-hundred day simple moving average is $29.50. The stock has a market cap of $43.79 billion, a PE ratio of 32.51, a P/E/G ratio of 1.43 and a beta of 0.40. Keurig Dr Pepper, Inc has a 52 week low of $24.88 and a 52 week high of $33.82.

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

Insiders Place Their Bets

In other Keurig Dr Pepper news, Director Aaron E. Alt purchased 7,862 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $31.83 per share, for a total transaction of $250,247.46. Following the purchase, the director directly owned 7,862 shares of the company's stock, valued at $250,247.46. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on KDP. Sanford C. Bernstein set a $39.00 price target on Keurig Dr Pepper in a report on Wednesday, July 8th. JPMorgan Chase & Co. raised their price objective on Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. UBS Group lifted their price objective on Keurig Dr Pepper from $38.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. Finally, Citigroup increased their target price on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $34.94.

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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