The Manufacturers Life Insurance Company Takes $21.91 Million Position in Keurig Dr Pepper, Inc $KDP

The Manufacturers Life Insurance Company acquired a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 669,427 shares of the company's stock, valued at approximately $21,910,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Keurig Dr Pepper during the 2nd quarter worth approximately $4,697,645,000. State Street Corp boosted its position in Keurig Dr Pepper by 1.6% during the 3rd quarter. State Street Corp now owns 64,594,706 shares of the company's stock valued at $1,662,361,000 after purchasing an additional 986,700 shares during the period. Wellington Management Group LLP boosted its position in Keurig Dr Pepper by 37.0% during the 4th quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock valued at $1,596,664,000 after purchasing an additional 15,393,753 shares during the period. Geode Capital Management LLC grew its stake in Keurig Dr Pepper by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock worth $887,021,000 after buying an additional 1,187,457 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Keurig Dr Pepper in the fourth quarter worth $727,667,000. Institutional investors and hedge funds own 93.99% of the company's stock.

Insiders Place Their Bets

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

Keurig Dr Pepper Stock Down 1.0%

Keurig Dr Pepper stock opened at $31.88 on Friday. Keurig Dr Pepper, Inc has a 52 week low of $24.88 and a 52 week high of $33.82. The stock has a market cap of $43.38 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 1.44 and a beta of 0.40. The company's 50-day moving average price is $31.21 and its two-hundred day moving average price is $29.48. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upgraded Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research note on Thursday, June 25th. Zacks Research downgraded shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Citigroup boosted their target price on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Sanford C. Bernstein set a $39.00 price target on Keurig Dr Pepper in a report on Wednesday, July 8th. Finally, UBS Group increased their price objective on Keurig Dr Pepper from $38.00 to $39.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Keurig Dr Pepper presently has an average rating of "Moderate Buy" and an average target price of $34.94.

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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