Cullen Capital Management LLC Takes Position in Keurig Dr Pepper, Inc $KDP

Cullen Capital Management LLC acquired a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,700,621 shares of the company’s stock, valued at approximately $55,661,000.

Other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Keurig Dr Pepper by 290.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock valued at $1,475,000 after purchasing an additional 39,156 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Keurig Dr Pepper by 47.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock worth $5,030,000 after buying an additional 57,797 shares during the last quarter. Principal Financial Group Inc. grew its position in Keurig Dr Pepper by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock worth $43,489,000 after buying an additional 47,184 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in shares of Keurig Dr Pepper by 13.8% in the fourth quarter. Anchor Capital Advisors LLC now owns 1,297,998 shares of the company’s stock valued at $36,357,000 after buying an additional 157,438 shares in the last quarter. Finally, Fidelity National Financial Inc. bought a new position in shares of Keurig Dr Pepper in the fourth quarter valued at $15,349,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a research note on Thursday, June 25th. Sanford C. Bernstein set a $39.00 target price on Keurig Dr Pepper in a research report on Wednesday, July 8th. Morgan Stanley began coverage on Keurig Dr Pepper in a report on Thursday. They set an “overweight” rating and a $38.00 target price for the company. Zacks Research lowered Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. lifted their price target on Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Keurig Dr Pepper has an average rating of “Moderate Buy” and a consensus target price of $34.94.

Keurig Dr Pepper Stock Up 1.5%

Shares of NASDAQ:KDP opened at $32.51 on Tuesday. The firm has a 50 day simple moving average of $31.16 and a 200 day simple moving average of $29.40. 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. The company has a market cap of $44.24 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $7.23 billion. During the same period in the previous year, the company posted $0.49 EPS. The company’s quarterly revenue was up 75.6% compared to the same quarter last year. As a group, research analysts expect that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current year.

Keurig Dr Pepper Company 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.