Cidel Asset Management Inc. Purchases New Holdings in Keurig Dr Pepper, Inc $KDP

Cidel Asset Management Inc. purchased a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,077 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds have also made changes to their positions in KDP. Rise Advisors LLC purchased a new stake in Keurig Dr Pepper in the 1st quarter worth approximately $25,000. Chung Wu Investment Group LLC purchased a new stake in Keurig Dr Pepper in the 2nd quarter worth approximately $26,000. WPG Advisers LLC purchased a new stake in Keurig Dr Pepper in the 1st quarter worth approximately $43,000. Continuum Advisory LLC lifted its position in Keurig Dr Pepper by 82.5% in the 1st quarter. Continuum Advisory LLC now owns 1,332 shares of the company’s stock worth $46,000 after buying an additional 602 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Keurig Dr Pepper by 26.4% in the 2nd quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock worth $54,000 after buying an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $27.75 on Tuesday. Keurig Dr Pepper, Inc has a 1 year low of $25.03 and a 1 year high of $37.27. The firm’s fifty day simple moving average is $28.60 and its 200 day simple moving average is $31.91. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $37.70 billion, a PE ratio of 24.78, a PEG ratio of 1.55 and a beta of 0.43.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results 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 net margin of 9.75% and a return on equity of 11.05%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the business posted $0.45 EPS. Keurig Dr Pepper’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

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

Insiders Place Their Bets

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 7,601 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the completion of the sale, the director directly owned 2,284,568 shares of the company’s stock, valued at $82,038,836.88. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 423,601 shares of company stock valued at $14,017,592. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. BNP Paribas Exane downgraded shares of Keurig Dr Pepper from a “neutral” rating to an “underperform” rating in a research report on Monday, September 22nd. Piper Sandler cut their target price on shares of Keurig Dr Pepper from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Jefferies Financial Group set a $41.00 target price on shares of Keurig Dr Pepper in a research report on Monday, August 25th. Hsbc Global Res lowered shares of Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, UBS Group dropped their price target on shares of Keurig Dr Pepper from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, August 27th. Eleven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Hold” and a consensus price target of $34.87.

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.