Parr Mcknight Wealth Management Group LLC Acquires 46,058 Shares of Keurig Dr Pepper, Inc $KDP

Parr Mcknight Wealth Management Group LLC boosted its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 164.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,080 shares of the company’s stock after buying an additional 46,058 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in Keurig Dr Pepper were worth $1,951,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KDP. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Keurig Dr Pepper by 290.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock worth $1,475,000 after acquiring an additional 39,156 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Keurig Dr Pepper in the third quarter valued at about $2,551,000. PNC Financial Services Group Inc. raised its position in Keurig Dr Pepper by 47.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock worth $5,030,000 after purchasing an additional 57,797 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 worth $2,438,000 after purchasing an additional 57,500 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Keurig Dr Pepper by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock valued at $43,489,000 after purchasing an additional 47,184 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Down 1.3%

Shares of NASDAQ:KDP opened at $31.25 on Tuesday. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $35.94. The company has a 50 day moving average of $30.63 and a 200-day moving average of $28.77. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The stock has a market cap of $42.52 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 1.45 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, April 23rd. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, sell-side analysts forecast that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. Keurig Dr Pepper’s payout ratio is currently 68.15%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Sanford C. Bernstein set a $39.00 price objective on shares of Keurig Dr Pepper in a report on Wednesday, July 8th. Evercore set a $30.00 price objective on Keurig Dr Pepper in a research report on Friday, April 24th. Barclays upgraded Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $30.00 to $36.00 in a research note on Thursday, June 25th. Wells Fargo & Company set a $37.00 price target on shares of Keurig Dr Pepper in a research report on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.47.

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.