368,626 Shares in Keurig Dr Pepper, Inc $KDP Purchased by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co purchased a new stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 368,626 shares of the company’s stock, valued at approximately $12,065,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Keurig Dr Pepper during the 2nd quarter worth approximately $4,697,645,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Keurig Dr Pepper during the fourth quarter worth approximately $727,667,000. Norges Bank purchased a new stake in shares of Keurig Dr Pepper during the fourth quarter worth approximately $568,361,000. Capital International Investors lifted its holdings in shares of Keurig Dr Pepper by 1,987.4% during the fourth quarter. Capital International Investors now owns 16,858,031 shares of the company’s stock worth $472,193,000 after purchasing an additional 16,050,437 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Keurig Dr Pepper by 37.0% during the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company’s stock worth $1,596,664,000 after purchasing an additional 15,393,753 shares during the period. 93.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KDP has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Keurig Dr Pepper in a report on Friday, August 7th. HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, August 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. Wells Fargo & Company set a $37.00 price target on Keurig Dr Pepper in a report on Wednesday, July 1st. Finally, Citigroup lifted their price target on Keurig Dr Pepper from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and a consensus target price of $34.94.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $32.04 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.48 and a debt-to-equity ratio of 0.74. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $35.59. The company has a 50-day simple moving average of $31.15 and a 200-day simple moving average of $29.37. The company has a market capitalization of $43.60 billion, a PE ratio of 32.36, a P/E/G ratio of 1.43 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm’s revenue was up 75.6% on a year-over-year basis. Equities research analysts predict that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current fiscal year.

Keurig Dr Pepper 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.