Pinnacle Associates Ltd. Acquires 36,462 Shares of Keurig Dr Pepper, Inc $KDP

Pinnacle Associates Ltd. raised its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 38.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,120 shares of the company’s stock after purchasing an additional 36,462 shares during the period. Pinnacle Associates Ltd.’s holdings in Keurig Dr Pepper were worth $3,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Keurig Dr Pepper by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company’s stock worth $4,508,456,000 after acquiring an additional 1,538,456 shares in the last quarter. State Street Corp raised its position in shares of Keurig Dr Pepper by 1.6% in the 3rd quarter. State Street Corp now owns 64,594,706 shares of the company’s stock worth $1,662,361,000 after acquiring an additional 986,700 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Keurig Dr Pepper by 0.9% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 20,558,966 shares of the company’s stock worth $524,459,000 after acquiring an additional 182,341 shares in the last quarter. Bank of America Corp DE raised its position in shares of Keurig Dr Pepper by 8.8% in the 2nd quarter. Bank of America Corp DE now owns 11,231,214 shares of the company’s stock worth $371,304,000 after acquiring an additional 904,585 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Keurig Dr Pepper by 7.0% in the 3rd quarter. Legal & General Group Plc now owns 8,725,332 shares of the company’s stock worth $222,582,000 after acquiring an additional 569,469 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock opened at $28.93 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $39.36 billion, a P/E ratio of 21.43, a PEG ratio of 1.33 and a beta of 0.41. The stock’s 50 day moving average is $27.29 and its 200 day moving average is $27.83. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, topping 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%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, equities research analysts predict that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KDP has been the subject of several research reports. Evercore set a $30.00 target price on Keurig Dr Pepper in a research report on Friday, April 24th. Citigroup decreased their target price on Keurig Dr Pepper from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Weiss Ratings raised Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Wells Fargo & Company decreased their target price on Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Finally, Zacks Research raised Keurig Dr Pepper from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.57.

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.