Tocqueville Asset Management L.P. Buys New Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Tocqueville Asset Management purchased 221,872 Keurig Dr Pepper shares in the second quarter, valued at approximately $7.3 million. Institutional investors and hedge funds collectively own 93.99% of the company.
• Keurig Dr Pepper exceeded quarterly expectations, reporting $0.57 in earnings per share versus a $0.54 consensus estimate and $7.31 billion in revenue, up 75.6% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $34.94, compared with the stock’s recent price of $31.06.

Tocqueville Asset Management L.P. bought a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 221,872 shares of the company's stock, valued at approximately $7,262,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Keurig Dr Pepper during the second quarter valued at $4,697,645,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Keurig Dr Pepper in the fourth quarter worth approximately $727,667,000. Norges Bank bought a new position in Keurig Dr Pepper in the 4th quarter valued at approximately $568,361,000. Capital International Investors lifted its holdings in shares of Keurig Dr Pepper by 1,987.4% during the fourth quarter. Capital International Investors now owns 16,858,031 shares of the company's stock valued at $472,193,000 after purchasing an additional 16,050,437 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake 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 acquiring an additional 15,393,753 shares during the period. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

Keurig Dr Pepper stock opened at $31.06 on Thursday. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $35.94. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $31.13 and a 200-day moving average price of $29.31. The firm has a market capitalization of $42.27 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.57 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 company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the prior year, the firm posted $0.49 EPS. The firm's revenue was up 75.6% compared to the same quarter last year. As a group, equities research analysts forecast that Keurig Dr Pepper, Inc will post 2.3 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a report on Thursday, June 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price objective on Keurig Dr Pepper from $33.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Zacks Research lowered shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Finally, BNP Paribas Exane raised Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 price target for the company in a research note on Wednesday, April 22nd. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of "Moderate Buy" and a consensus price target 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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