Grey Ledge Advisors LLC Invests $587,000 in Keurig Dr Pepper, Inc $KDP

Grey Ledge Advisors LLC purchased a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 22,290 shares of the company’s stock, valued at approximately $587,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Keurig Dr Pepper by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company’s stock worth $4,508,456,000 after acquiring an additional 1,538,456 shares during the period. State Street Corp raised its position in shares of Keurig Dr Pepper by 1.6% during the 3rd quarter. State Street Corp now owns 64,594,706 shares of the company’s stock worth $1,662,361,000 after purchasing an additional 986,700 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 buying an additional 15,393,753 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Keurig Dr Pepper by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company’s stock valued at $887,021,000 after purchasing an additional 1,187,457 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Keurig Dr Pepper in the fourth quarter valued at about $727,667,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Up 3.6%

Shares of NASDAQ KDP opened at $32.52 on Friday. The stock has a market capitalization of $44.25 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.43 and a beta of 0.41. Keurig Dr Pepper, Inc has a 52 week low of $24.88 and a 52 week high of $35.94. The firm has a 50-day moving average price of $29.51 and a 200 day moving average price of $28.46. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. Equities research analysts anticipate that Keurig Dr Pepper, Inc will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, June 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 68.15%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KDP shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Barclays upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $36.00 in a report on Thursday. Zacks Research lowered Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. UBS Group upped their price target on Keurig Dr Pepper from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, Wells Fargo & Company decreased their target price on Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.40.

Keurig Dr Pepper Profile

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.