Pinnacle Associates Ltd. Boosts Stock Position in Keurig Dr Pepper, Inc $KDP

Pinnacle Associates Ltd. raised its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 38.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 131,120 shares of the company’s stock after acquiring an additional 36,462 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Keurig Dr Pepper were worth $3,673,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. AustralianSuper Pty Ltd purchased a new position in shares of Keurig Dr Pepper in the 3rd quarter worth $1,217,000. Bank of New York Mellon Corp boosted its stake in shares of Keurig Dr Pepper by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,927,144 shares of the company’s stock worth $202,221,000 after buying an additional 223,160 shares during the last quarter. Candriam S.C.A. boosted its stake in shares of Keurig Dr Pepper by 50.9% in the 3rd quarter. Candriam S.C.A. now owns 377,667 shares of the company’s stock worth $9,634,000 after buying an additional 127,389 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Keurig Dr Pepper by 69.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 105,015 shares of the company’s stock worth $2,660,000 after buying an additional 43,223 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its stake in shares of Keurig Dr Pepper by 83.7% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 204,935 shares of the company’s stock worth $5,228,000 after buying an additional 93,374 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on KDP shares. Deutsche Bank Aktiengesellschaft dropped their price target on Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. JPMorgan Chase & Co. raised their price target on Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Evercore set a $30.00 price target on Keurig Dr Pepper in a research note on Friday, April 24th. Citigroup dropped their price target on Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, Zacks Research upgraded Keurig Dr Pepper from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.57.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $28.93 on Friday. The company has a market capitalization of $39.36 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The business’s fifty day moving average is $27.29 and its 200 day moving average is $27.83. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.Keurig Dr Pepper’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. Sell-side analysts predict that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single?serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single?serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.