Raymond James Financial Inc. Raises Stock Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Raymond James Financial Inc. increased its stake in Keurig Dr Pepper, Inc. by 8.6%, acquiring an additional 155,562 shares, bringing its total ownership to 1,961,160 shares valued at $67.1 million.
• Other institutional investors, including China Universal Asset Management and Praxis Investment Management, also raised their stakes significantly in the same quarter.
• Keurig Dr Pepper reported quarterly earnings of $0.49 EPS, meeting analysts' expectations, with revenue of $4.16 billion, indicating a 6.1% year-over-year increase.

Raymond James Financial Inc. increased its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 8.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,961,160 shares of the company's stock after purchasing an additional 155,562 shares during the period. Raymond James Financial Inc. owned 0.14% of Keurig Dr Pepper worth $67,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ST Germain D J Co. Inc. bought a new position in shares of Keurig Dr Pepper during the first quarter valued at approximately $27,000. Continuum Advisory LLC boosted its stake in shares of Keurig Dr Pepper by 82.5% during the first quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock valued at $46,000 after purchasing an additional 602 shares in the last quarter. Global Trust Asset Management LLC bought a new position in shares of Keurig Dr Pepper during the first quarter valued at approximately $48,000. LRI Investments LLC boosted its stake in shares of Keurig Dr Pepper by 65.6% during the fourth quarter. LRI Investments LLC now owns 1,527 shares of the company's stock valued at $49,000 after purchasing an additional 605 shares in the last quarter. Finally, Riverview Trust Co boosted its stake in shares of Keurig Dr Pepper by 47.7% during the first quarter. Riverview Trust Co now owns 1,710 shares of the company's stock valued at $59,000 after purchasing an additional 552 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP traded down $0.07 during midday trading on Friday, reaching $35.13. The company had a trading volume of 5,121,713 shares, compared to its average volume of 8,519,518. The business's 50-day simple moving average is $33.71 and its 200 day simple moving average is $33.65. The stock has a market cap of $47.72 billion, a P/E ratio of 31.37, a P/E/G ratio of 2.56 and a beta of 0.45. Keurig Dr Pepper, Inc has a 1 year low of $30.12 and a 1 year 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.

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

Insiders Place Their Bets

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $33.66, for a total value of $403,920.00. Following the completion of the transaction, the insider owned 82,511 shares of the company's stock, valued at approximately $2,777,320.26. This trade represents a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 679,601 shares of company stock valued at $22,508,712. Insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on KDP shares. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Barclays raised their target price on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and raised their target price for the company from $36.00 to $42.00 in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Finally, UBS Group lowered their target price on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating for the company 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 given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.77.

Keurig Dr Pepper Company Profile

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.