Assetmark Inc. Increases Position in Keurig Dr Pepper, Inc $KDP

Assetmark Inc. increased its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 26.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,797 shares of the company’s stock after buying an additional 21,210 shares during the quarter. Assetmark Inc.’s holdings in Keurig Dr Pepper were worth $2,654,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KDP. T. Rowe Price Investment Management Inc. acquired a new position in shares of Keurig Dr Pepper during the 4th quarter worth $727,667,000. Norges Bank purchased a new position in shares of Keurig Dr Pepper in the fourth quarter valued at $568,361,000. Capital International Investors increased its holdings in Keurig Dr Pepper by 1,987.4% during 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 increased its position in Keurig Dr Pepper by 37.0% during the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company’s stock worth $1,596,664,000 after buying an additional 15,393,753 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Keurig Dr Pepper by 285.3% during the fourth quarter. AQR Capital Management LLC now owns 11,636,027 shares of the company’s stock worth $325,925,000 after buying an additional 8,615,869 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday. Weiss Ratings upgraded Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research lowered Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. BNP Paribas Exane raised shares of Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a research report on Wednesday, April 22nd. Finally, Sanford C. Bernstein set a $39.00 target price on Keurig Dr Pepper in a research note on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Keurig Dr Pepper currently has a consensus rating of “Hold” and an average target price of $33.40.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $29.67 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.94. The company has a fifty day moving average price of $30.88 and a two-hundred day moving average price of $28.90. The company has a market cap of $40.37 billion, a PE ratio of 21.98, a P/E/G ratio of 1.38 and a beta of 0.40.

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, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $3.98 billion for 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 posted $0.42 EPS. Research analysts expect that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper’s payout ratio is currently 68.15%.

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.