Swiss National Bank Buys 251,300 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Swiss National Bank increased its stake in Keurig Dr Pepper by 7.1% in the first quarter, buying 251,300 additional shares. The fund now owns 3,787,671 shares, worth about $99.7 million.
• KDP reported mixed quarterly results: earnings of $0.39 per share beat estimates, but revenue came in well below expectations at $3.98 billion. Revenue still rose 9.4% year over year.
• Analyst sentiment remains cautious, with eight Buy ratings and nine Hold ratings, resulting in a consensus Hold rating. The average price target is $33.07, slightly above the stock’s recent trading level.

Swiss National Bank boosted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,787,671 shares of the company's stock after purchasing an additional 251,300 shares during the quarter. Swiss National Bank owned about 0.28% of Keurig Dr Pepper worth $99,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KDP. Northwestern Mutual Wealth Management Co. increased its stake in Keurig Dr Pepper by 290.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company's stock worth $1,475,000 after purchasing an additional 39,156 shares in the last quarter. Merit Financial Group LLC lifted its stake in Keurig Dr Pepper by 194.6% during the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company's stock valued at $2,438,000 after buying an additional 57,500 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Keurig Dr Pepper by 47.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company's stock valued at $5,030,000 after buying an additional 57,797 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Keurig Dr Pepper by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company's stock worth $43,489,000 after buying an additional 47,184 shares during the period. Finally, Sendero Wealth Management LLC increased its position in shares of Keurig Dr Pepper by 31.8% in the fourth quarter. Sendero Wealth Management LLC now owns 318,802 shares of the company's stock worth $8,930,000 after acquiring an additional 76,886 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $30.44 on Tuesday. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.94. The firm has a market capitalization of $41.42 billion, a PE ratio of 22.55, a PEG ratio of 1.41 and a beta of 0.40. The business's 50 day moving average is $30.83 and its 200-day moving average is $28.86. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72.

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

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, June 26th. Keurig Dr Pepper's payout ratio is currently 68.15%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings raised Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, March 30th. Evercore set a $30.00 price objective on shares of Keurig Dr Pepper in a research note on Friday, April 24th. Finally, Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of "Hold" and a consensus price target of $33.07.

Keurig Dr Pepper Company 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.

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.