Keurig Dr Pepper, Inc $KDP Stock: Pictet Asset Management Holding SA Boosts Holdings

Pictet Asset Management Holding SA lifted its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 3.2% during the third quarter, Holdings Channel reports. The fund owned 721,926 shares of the company’s stock after acquiring an additional 22,082 shares during the period. Pictet Asset Management Holding SA’s holdings in Keurig Dr Pepper were worth $21,903,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new position in Keurig Dr Pepper in the second quarter valued at $4,697,645,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Keurig Dr Pepper during the 2nd quarter worth $767,105,000. Dimensional Fund Advisors LP increased its holdings in Keurig Dr Pepper by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,585,791 shares of the company’s stock worth $252,408,000 after purchasing an additional 103,505 shares during the period. Bank of America Corp DE purchased a new stake in Keurig Dr Pepper during the 2nd quarter worth about $281,503,000. Finally, Legal & General Group Plc purchased a new stake in Keurig Dr Pepper during the 2nd quarter worth about $269,336,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KDP has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Evercore boosted their price objective on Keurig Dr Pepper from $30.00 to $32.00 in a research report on Thursday, October 8th. Barclays upped their target price on shares of Keurig Dr Pepper from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Wells Fargo & Company raised their target price on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Finally, HSBC upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $40.00 in a research note on Thursday, August 13th. Ten investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.29.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $38.25 on Thursday. The firm has a market capitalization of $52.05 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 1.79 and a beta of 0.35. The business’s fifty day moving average price is $33.21 and its 200 day moving average price is $30.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.52 and a quick ratio of 0.32. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $38.29.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.33 billion. Keurig Dr Pepper had a return on equity of 11.27% and a net margin of 7.12%. Keurig Dr Pepper’s quarterly revenue was up 70.6% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. On average, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 2.31 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Monday, September 28th were issued a $0.23 dividend. The ex-dividend date was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.4%. Keurig Dr Pepper’s dividend payout ratio is presently 84.40%.

Insider Activity

In other news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $32.55, for a total value of $390,600.00. Following the transaction, the insider owned 84,171 shares in the company, valued at approximately $2,739,766.05. This represents a 12.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Angela Stephens sold 9,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $32.70, for a total value of $310,650.00. Following the sale, the vice president directly owned 55,786 shares in the company, valued at $1,824,202.20. This trade represents a 14.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.34% of the company’s stock.

About Keurig Dr Pepper

Keurig Dr Pepper Inc. (NASDAQ: KDP) is a beverage company that operates across coffee and packaged beverages. Its portfolio includes soft drinks, flavored waters, juices, juice drinks, ready-to-drink teas and coffees, sports and energy beverages, and mixers, as well as single-serve coffee brewing systems and pods. The company’s brands include Keurig, Green Mountain Coffee Roasters, The Original Donut Shop, Dr Pepper, Canada Dry, Snapple, 7UP, A&W, Mott’s, Bai, CORE Hydration and Venom, among others.