RWC Asset Management LLP Acquires 306,902 Shares of Keurig Dr Pepper, Inc $KDP

RWC Asset Management LLP raised its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 24.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,556,100 shares of the company’s stock after buying an additional 306,902 shares during the quarter. Keurig Dr Pepper comprises 1.8% of RWC Asset Management LLP’s holdings, making the stock its 14th largest position. RWC Asset Management LLP’s holdings in Keurig Dr Pepper were worth $47,212,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KDP. Fifth Third Wealth Advisors LLC increased its stake in Keurig Dr Pepper by 81.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 34,252 shares of the company’s stock valued at $1,039,000 after purchasing an additional 15,377 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Keurig Dr Pepper by 1.8% during the third quarter. Yousif Capital Management LLC now owns 106,044 shares of the company’s stock worth $3,217,000 after purchasing an additional 1,925 shares during the period. Demars Financial Group LLC lifted its holdings in shares of Keurig Dr Pepper by 7.1% during the third quarter. Demars Financial Group LLC now owns 33,091 shares of the company’s stock worth $1,004,000 after purchasing an additional 2,187 shares during the period. Root Financial Partners LLC purchased a new stake in Keurig Dr Pepper in the third quarter valued at approximately $54,000. Finally, Carnegie Investment Counsel boosted its position in Keurig Dr Pepper by 380.0% in the third quarter. Carnegie Investment Counsel now owns 433,074 shares of the company’s stock valued at $13,139,000 after buying an additional 342,841 shares during the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Insider Activity

In other news, Director Aaron E. Alt purchased 7,862 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $31.83 per share, for a total transaction of $250,247.46. Following the completion of the transaction, the director owned 7,862 shares in the company, valued at $250,247.46. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Angela A. Stephens sold 9,500 shares of Keurig Dr Pepper stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $32.70, for a total transaction of $310,650.00. Following the completion of the transaction, the vice president directly owned 55,786 shares of the company’s stock, valued at $1,824,202.20. The trade was a 14.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.34% of the company’s stock.

Keurig Dr Pepper Stock Performance

Keurig Dr Pepper stock traded down $0.51 during midday trading on Friday, hitting $34.68. 13,465,514 shares of the company were exchanged, compared to its average volume of 12,770,590. The firm has a market capitalization of $47.19 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 1.68 and a beta of 0.40. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $35.40. The business has a fifty day simple moving average of $32.05 and a two-hundred day simple moving average of $30.63. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. Keurig Dr Pepper had a return on equity of 10.80% and a net margin of 7.10%. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.23 billion. During the same period last year, the business earned $0.49 earnings per share. Keurig Dr Pepper’s quarterly revenue was up 75.6% on a year-over-year basis. On average, sell-side analysts forecast that Keurig Dr Pepper, Inc will post 2.30 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Monday, September 28th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, September 28th. Keurig Dr Pepper’s payout ratio is 92.93%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KDP shares. HSBC upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and increased their price target for the stock from $37.00 to $40.00 in a report on Thursday, August 13th. Wells Fargo & Company set a $37.00 price objective on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Sanford C. Bernstein set a $39.00 price objective on shares of Keurig Dr Pepper in a report on Wednesday, July 8th. Barclays increased their price objective on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Finally, Piper Sandler reissued an “overweight” rating on shares of Keurig Dr Pepper in a report on Wednesday, October 14th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Keurig Dr Pepper has an average rating of “Moderate Buy” and a consensus price target of $35.78.

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.