West Tower Group LLC Makes New Investment in Keurig Dr Pepper, Inc $KDP

West Tower Group LLC bought a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $397,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Keurig Dr Pepper by 21.3% in the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company’s stock valued at $4,962,338,000 after purchasing an additional 25,425,644 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Keurig Dr Pepper by 108.1% in the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company’s stock valued at $1,330,565,000 after purchasing an additional 20,196,835 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Keurig Dr Pepper by 1.7% in the first quarter. Invesco Ltd. now owns 21,973,128 shares of the company’s stock valued at $751,920,000 after purchasing an additional 367,518 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Keurig Dr Pepper by 0.8% in the first quarter. Northern Trust Corp now owns 13,712,677 shares of the company’s stock valued at $469,248,000 after purchasing an additional 114,044 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Keurig Dr Pepper by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 10,284,995 shares of the company’s stock valued at $351,927,000 after purchasing an additional 358,350 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $32.90, for a total value of $6,843,200.00. Following the transaction, the director directly owned 2,292,169 shares in the company, valued at $75,412,360.10. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 423,601 shares of company stock valued at $14,017,592 in the last 90 days. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

KDP has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their price target on Keurig Dr Pepper from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. The Goldman Sachs Group decreased their price objective on Keurig Dr Pepper from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, October 2nd. Piper Sandler lowered their target price on Keurig Dr Pepper from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Bank of America reduced their price target on Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Finally, Citigroup lowered their price target on Keurig Dr Pepper from $41.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Eleven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.00.

Keurig Dr Pepper Trading Up 1.1%

Keurig Dr Pepper stock opened at $28.03 on Monday. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $37.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64. The stock has a market capitalization of $38.08 billion, a P/E ratio of 25.03, a PEG ratio of 1.55 and a beta of 0.43. The stock has a 50-day simple moving average of $28.74 and a 200 day simple moving average of $31.95.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The company had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the firm posted $0.45 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. Analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, September 26th. Keurig Dr Pepper’s payout ratio is 82.14%.

Keurig Dr Pepper Company Profile

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.