Oppenheimer Asset Management Inc. Acquires Shares of 179,480 Keurig Dr Pepper, Inc $KDP

Oppenheimer Asset Management Inc. bought a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 179,480 shares of the company’s stock, valued at approximately $5,874,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Keurig Dr Pepper during the fourth quarter valued at approximately $727,667,000. Norges Bank purchased a new position in Keurig Dr Pepper in the 4th quarter worth approximately $568,361,000. Capital International Investors lifted its position in Keurig Dr Pepper by 1,987.4% in the 4th quarter. Capital International Investors now owns 16,858,031 shares of the company’s stock valued at $472,193,000 after acquiring an additional 16,050,437 shares in the last quarter. Wellington Management Group LLP lifted its position in Keurig Dr Pepper by 37.0% in 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 in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Keurig Dr Pepper by 285.3% during the 4th quarter. AQR Capital Management LLC now owns 11,636,027 shares of the company’s stock valued at $325,925,000 after purchasing an additional 8,615,869 shares during the last quarter. Institutional investors own 93.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. Sanford C. Bernstein set a $39.00 price objective on Keurig Dr Pepper in a research report on Wednesday, July 8th. BNP Paribas Exane upgraded Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a report on Wednesday, April 22nd. Evercore set a $30.00 target price on Keurig Dr Pepper in a research report on Friday, April 24th. Finally, Citigroup upped 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. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Keurig Dr Pepper currently has a consensus rating of “Moderate Buy” and an average price target of $34.75.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $31.44 on Friday. The firm has a fifty day simple moving average of $31.17 and a two-hundred day simple moving average of $29.22. The firm has a market cap of $42.78 billion, a PE ratio of 31.76, a P/E/G ratio of 1.40 and a beta of 0.40. 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, Inc has a 1-year low of $24.88 and a 1-year high of $35.94.

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

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. Keurig Dr Pepper’s dividend payout ratio is currently 92.93%.

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.