West Tower Group LLC Makes New Investment in Keurig Dr Pepper, Inc $KDP

Key Points

• West Tower Group LLC has invested approximately $397,000 in Keurig Dr Pepper by acquiring 12,000 shares in the second quarter.
• Institutional investors own 93.99% of Keurig Dr Pepper's stock, with notable increases in holdings from firms like Vanguard and JPMorgan.
• Keurig Dr Pepper recently announced a quarterly dividend of $0.23 per share, reflecting an annualized yield of 3.3%.

West Tower Group LLC bought a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,000 shares of the company's stock, valued at approximately $397,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Keurig Dr Pepper by 21.3% in the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company's stock valued at $4,962,338,000 after purchasing an additional 25,425,644 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Keurig Dr Pepper by 108.1% in the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock valued at $1,330,565,000 after purchasing an additional 20,196,835 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Keurig Dr Pepper by 1.7% in the first quarter. Invesco Ltd. now owns 21,973,128 shares of the company's stock valued at $751,920,000 after purchasing an additional 367,518 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Keurig Dr Pepper by 0.8% in the first quarter. Northern Trust Corp now owns 13,712,677 shares of the company's stock valued at $469,248,000 after purchasing an additional 114,044 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Keurig Dr Pepper by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 10,284,995 shares of the company's stock valued at $351,927,000 after purchasing an additional 358,350 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $32.90, for a total value of $6,843,200.00. Following the transaction, the director directly owned 2,292,169 shares in the company, valued at $75,412,360.10. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 423,601 shares of company stock valued at $14,017,592 in the last 90 days. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their price target on Keurig Dr Pepper from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Tuesday, August 26th. The Goldman Sachs Group decreased their price objective on Keurig Dr Pepper from $34.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, October 2nd. Piper Sandler lowered their target price on Keurig Dr Pepper from $40.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. Bank of America reduced their price target on Keurig Dr Pepper from $41.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, October 8th. Finally, Citigroup lowered their price target on Keurig Dr Pepper from $41.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, September 16th. Eleven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $35.00.

Keurig Dr Pepper Trading Up 1.1%

Keurig Dr Pepper stock opened at $28.03 on Monday. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $37.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The stock has a market capitalization of $38.08 billion, a P/E ratio of 25.03, a PEG ratio of 1.55 and a beta of 0.43. The stock has a 50-day simple moving average of $28.74 and a 200 day simple moving average of $31.95.

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

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, September 26th. Keurig Dr Pepper's payout ratio is 82.14%.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.