Corient Private Wealth LP Invests $2.95 Million in Keurig Dr Pepper, Inc $KDP

Corient Private Wealth LP bought a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 90,172 shares of the company’s stock, valued at approximately $2,952,000.

Several other institutional investors also recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in Keurig Dr Pepper by 30.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock worth $530,000 after purchasing an additional 3,627 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Keurig Dr Pepper by 248.0% during the 1st quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock valued at $2,389,000 after purchasing an additional 49,741 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Keurig Dr Pepper by 49.2% in the 1st quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock valued at $3,452,000 after purchasing an additional 33,258 shares during the period. Sivia Capital Partners LLC purchased a new stake in Keurig Dr Pepper during the second quarter worth $328,000. Finally, Jump Financial LLC grew its position in Keurig Dr Pepper by 253.6% during the second quarter. Jump Financial LLC now owns 76,089 shares of the company’s stock valued at $2,516,000 after buying an additional 54,571 shares during the period. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Keurig Dr Pepper Price Performance

NASDAQ:KDP opened at $31.89 on Wednesday. The stock has a 50 day moving average of $31.28 and a two-hundred day moving average of $29.54. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $33.82. The firm has a market cap of $43.40 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 1.42 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 (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The company’s revenue was up 75.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. On average, analysts expect that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current fiscal year.

Key Stories Impacting Keurig Dr Pepper

Here are the key news stories impacting Keurig Dr Pepper this week:

• Positive Sentiment: KDP will sell its minority stake in Chobani and a Pennsylvania manufacturing facility back to Chobani for $925 million in pre-tax proceeds. Management said the cash will support deleveraging, potentially improving the company’s balance sheet following its acquisition of JDE Peet’s. Keurig Dr Pepper to sell back Chobani stake for $925 million
• Positive Sentiment: The transaction streamlines KDP’s operations ahead of its planned business split, allowing the company to focus capital and management attention on its core beverage businesses while monetizing a non-core investment and asset. Keurig Dr Pepper Advances Strategic Priorities Through Enhanced Partnership with Chobani
• Positive Sentiment: Despite selling its equity stake and facility, KDP is expanding its commercial relationship with Chobani. Chobani plans to invest approximately $1.2 billion in a Pennsylvania manufacturing campus, which should support a continuing strategic supply and distribution partnership. Chobani to Invest $1.2B in Pennsylvania Manufacturing Campus
• Neutral Sentiment: The deal removes KDP’s exposure to potential future gains from Chobani, and investors will still assess execution risks surrounding the planned corporate separation and the integration of JDE Peet’s. However, the upfront proceeds and debt-reduction objective are viewed as favorable for shareholder value. Keurig Dr Pepper to Sell Chobani Stake, Pennsylvania Campus for $925 Million

Insiders Place Their Bets

In related news, Director Aaron E. Alt purchased 7,862 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was acquired at an average cost of $31.83 per share, for a total transaction of $250,247.46. Following the completion of the transaction, the director directly owned 7,862 shares in the company, valued at approximately $250,247.46. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on KDP. UBS Group upped their price objective on shares of Keurig Dr Pepper from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. HSBC upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Thursday, August 13th. 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Keurig Dr Pepper in a research report on Friday, August 7th. Finally, Zacks Research lowered Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.94.

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.