New York Life Investment Management LLC Raises Stock Position in Keurig Dr Pepper, Inc $KDP

New York Life Investment Management LLC increased its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 202,031 shares of the company’s stock after acquiring an additional 26,734 shares during the quarter. New York Life Investment Management LLC’s holdings in Keurig Dr Pepper were worth $6,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in Keurig Dr Pepper during the 1st quarter worth $25,000. Chung Wu Investment Group LLC acquired a new stake in Keurig Dr Pepper during the 2nd quarter worth $26,000. WPG Advisers LLC acquired a new stake in Keurig Dr Pepper during the 1st quarter worth $43,000. Private Trust Co. NA boosted its stake in Keurig Dr Pepper by 26.4% during the 2nd quarter. Private Trust Co. NA now owns 1,624 shares of the company’s stock worth $54,000 after purchasing an additional 339 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in Keurig Dr Pepper during the 1st quarter worth $68,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KDP. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Keurig Dr Pepper from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, August 26th. UBS Group reaffirmed a “buy” rating and set a $35.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday. HSBC reaffirmed a “hold” rating and set a $30.00 target price (down previously from $42.00) on shares of Keurig Dr Pepper in a research note on Tuesday, August 26th. The Goldman Sachs Group lowered their price target on shares of Keurig Dr Pepper from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Keurig Dr Pepper from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday. Ten analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.27.

Insider Transactions at Keurig Dr Pepper

In related news, Director Robert James Gamgort sold 7,601 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $35.91, for a total value of $272,951.91. Following the sale, the director directly owned 2,284,568 shares in the company, valued at approximately $82,038,836.88. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Keurig Dr Pepper Trading Down 5.9%

Shares of KDP stock opened at $27.15 on Thursday. The company’s 50-day moving average price is $27.62 and its 200-day moving average price is $31.60. The company has a current ratio of 0.62, a quick ratio of 0.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $36.88 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.60 and a beta of 0.43. Keurig Dr Pepper, Inc has a twelve month low of $25.03 and a twelve month high of $36.12.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Monday, October 27th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Keurig Dr Pepper had a net margin of 9.78% and a return on equity of 11.19%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, equities analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, September 26th. Keurig Dr Pepper’s payout ratio is 79.31%.

Keurig Dr Pepper 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.