Spirepoint Private Client LLC Invests $206,000 in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Spirepoint Private Client LLC acquired a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,019 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its position in shares of Keurig Dr Pepper by 7.0% during the first quarter. Asset Management One Co. Ltd. now owns 609,754 shares of the company’s stock worth $20,866,000 after acquiring an additional 39,744 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Keurig Dr Pepper by 189.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 36,046 shares of the company’s stock worth $1,233,000 after purchasing an additional 23,602 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Keurig Dr Pepper by 656.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 205,556 shares of the company’s stock worth $7,034,000 after purchasing an additional 178,368 shares during the period. Continuum Advisory LLC grew its holdings in Keurig Dr Pepper by 82.5% during the 1st quarter. Continuum Advisory LLC now owns 1,332 shares of the company’s stock valued at $46,000 after buying an additional 602 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Keurig Dr Pepper during the 1st quarter valued at about $1,188,000. 93.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KDP has been the topic of a number of recent analyst reports. Argus started coverage on shares of Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a “buy” rating and a $40.00 price target on the stock. Morgan Stanley upgraded shares of Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $40.00 in a research note on Tuesday, April 1st. UBS Group raised their price target on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, April 17th. JPMorgan Chase & Co. upped their price target on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $42.00 in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Keurig Dr Pepper Trading Up 0.9%

Shares of KDP stock opened at $33.55 on Wednesday. The business has a 50-day moving average price of $33.67 and a two-hundred day moving average price of $33.10. Keurig Dr Pepper, Inc has a 12-month low of $30.12 and a 12-month high of $38.28. The company has a quick ratio of 0.31, a current ratio of 0.47 and a debt-to-equity ratio of 0.49. The firm has a market cap of $45.57 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 2.58 and a beta of 0.48.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. Keurig Dr Pepper’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. Equities analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.74%. Keurig Dr Pepper’s payout ratio is 83.64%.

Insider Activity

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $34.12, for a total value of $7,096,960.00. Following the completion of the sale, the director now owns 2,846,490 shares in the company, valued at approximately $97,122,238.80. The trade was a 6.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $35.59, for a total transaction of $427,080.00. Following the completion of the transaction, the insider now owns 154,511 shares in the company, valued at $5,499,046.49. This represents a 7.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 698,500 shares of company stock valued at $23,594,400. Corporate insiders own 1.00% of the company’s stock.

About Keurig Dr Pepper

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.