Stevens Capital Management LP Acquires 64,035 Shares of Keurig Dr Pepper Inc (NYSE:KDP)
Stevens Capital Management LP boosted its holdings in Keurig Dr Pepper Inc (NYSE:KDP) by 572.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,212 shares of the company’s stock after buying an additional 64,035 shares during the period. Stevens Capital Management LP’s holdings in Keurig Dr Pepper were worth $2,174,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC increased its position in Keurig Dr Pepper by 83.0% in the 1st quarter. Jennison Associates LLC now owns 863,468 shares of the company’s stock worth $24,151,000 after buying an additional 391,603 shares during the period. Rehmann Capital Advisory Group increased its position in Keurig Dr Pepper by 2,827.3% in the 1st quarter. Rehmann Capital Advisory Group now owns 7,494 shares of the company’s stock worth $210,000 after buying an additional 7,238 shares during the period. CIBC Asset Management Inc increased its position in Keurig Dr Pepper by 8.0% in the 1st quarter. CIBC Asset Management Inc now owns 9,793 shares of the company’s stock worth $274,000 after buying an additional 726 shares during the period. Winslow Evans & Crocker Inc. increased its position in Keurig Dr Pepper by 11.5% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 10,042 shares of the company’s stock worth $284,000 after buying an additional 1,036 shares during the period. Finally, Pennsylvania Trust Co bought a new position in Keurig Dr Pepper in the 1st quarter worth approximately $1,948,000. 14.15% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. BMO Capital Markets upgraded Keurig Dr Pepper from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $27.00 to $34.00 in a research report on Monday, June 17th. Credit Suisse Group assumed coverage on Keurig Dr Pepper in a research report on Wednesday, July 17th. They set a “neutral” rating and a $27.00 price objective on the stock. Royal Bank of Canada set a $31.00 price objective on Keurig Dr Pepper and gave the company a “buy” rating in a research report on Friday, August 9th. ValuEngine upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Zacks Investment Research upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $29.24.
Keurig Dr Pepper (NYSE:KDP) last released its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.86 billion. Keurig Dr Pepper had a return on equity of 7.15% and a net margin of 8.82%. The firm’s quarterly revenue was up 196.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, analysts expect that Keurig Dr Pepper Inc will post 1.22 earnings per share for the current year.
In other news, insider Brian Andrew Loucks bought 18,554 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $28.31 per share, for a total transaction of $525,263.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings B.V. Maple sold 52,902,300 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.77, for a total value of $1,469,096,871.00. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 23,554 shares of company stock valued at $669,174. 0.44% of the stock is currently owned by corporate insiders.
About Keurig Dr Pepper
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.
Want to see what other hedge funds are holding KDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Keurig Dr Pepper Inc (NYSE:KDP).
Receive News & Ratings for Keurig Dr Pepper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Keurig Dr Pepper and related companies with MarketBeat.com's FREE daily email newsletter.