Cibc World Market Inc. Takes $2.67 Million Position in Keurig Dr Pepper, Inc $KDP

Cibc World Market Inc. acquired a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 81,474 shares of the company’s stock, valued at approximately $2,667,000.

Several other large investors have also modified their holdings of KDP. NewEdge Advisors LLC raised its holdings 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 acquiring an additional 3,627 shares during the period. Empowered Funds LLC grew its position in shares of Keurig Dr Pepper by 248.0% in the first 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 during the last quarter. Woodline Partners LP increased its stake in shares of Keurig Dr Pepper by 49.2% in the first quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock worth $3,452,000 after purchasing an additional 33,258 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Keurig Dr Pepper during the 2nd quarter worth about $328,000. Finally, Jump Financial LLC boosted its stake in Keurig Dr Pepper by 253.6% during the 2nd quarter. Jump Financial LLC now owns 76,089 shares of the company’s stock valued at $2,516,000 after purchasing an additional 54,571 shares during the period. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Trading Up 1.2%

Shares of KDP stock opened at $32.21 on Thursday. The firm has a fifty day moving average of $31.18 and a 200-day moving average of $29.45. The stock has a market cap of $43.83 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 1.42 and a beta of 0.40. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $33.82. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays upped their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Zacks Research downgraded shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Morgan Stanley started coverage on shares of Keurig Dr Pepper in a research report on Thursday, August 20th. They issued an “overweight” rating and a $38.00 price target on the stock. Citigroup upped their price objective on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lifted their target price on Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.