Lecap Asset Management Ltd. Takes Position in Keurig Dr Pepper, Inc $KDP

Lecap Asset Management Ltd. purchased a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 24,317 shares of the company’s stock, valued at approximately $620,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Keurig Dr Pepper by 9.8% during the 2nd quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock valued at $5,265,055,000 after acquiring an additional 14,244,768 shares during the last quarter. State Street Corp grew its stake in shares of Keurig Dr Pepper by 11.2% during the second quarter. State Street Corp now owns 63,608,006 shares of the company’s stock worth $2,117,279,000 after purchasing an additional 6,412,494 shares during the period. Invesco Ltd. grew its stake in shares of Keurig Dr Pepper by 43.2% during the second quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after purchasing an additional 9,494,503 shares during the period. Geode Capital Management LLC increased its holdings in Keurig Dr Pepper by 13.5% in the second quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after purchasing an additional 3,595,579 shares during the last quarter. Finally, Norges Bank acquired a new position in Keurig Dr Pepper in the second quarter valued at about $568,525,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KDP. Cowen restated a “hold” rating on shares of Keurig Dr Pepper in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Keurig Dr Pepper in a report on Friday, October 31st. Piper Sandler upped their target price on shares of Keurig Dr Pepper from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. BNP Paribas cut shares of Keurig Dr Pepper from a “neutral” rating to an “underperform” rating in a research report on Monday, September 22nd. Finally, UBS Group restated a “buy” rating and issued a $35.00 price objective on shares of Keurig Dr Pepper in a research report on Tuesday, October 28th. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.87.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $27.61 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.62. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $36.12. The company’s 50 day moving average price is $27.75 and its two-hundred day moving average price is $29.48. The company has a market capitalization of $37.51 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 1.87 and a beta of 0.34.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Monday, October 27th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. Keurig Dr Pepper had a net margin of 9.78% and a return on equity of 11.19%. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.92 annualized dividend and a dividend yield of 3.3%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 79.31%.

Insider Activity at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 10,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the transaction, the vice president directly owned 54,200 shares of the company’s stock, valued at $1,599,984. This represents a 15.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is currently owned by company insiders.

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.