Keurig Dr Pepper, Inc $KDP Shares Sold by Two Sigma Securities LLC

Two Sigma Securities LLC cut its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 52.8% during the second quarter, Holdings Channel reports. The firm owned 24,736 shares of the company’s stock after selling 27,697 shares during the quarter. Two Sigma Securities LLC’s holdings in Keurig Dr Pepper were worth $810,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KDP. Meeder Asset Management Inc. boosted its position in shares of Keurig Dr Pepper by 358.0% in the 1st quarter. Meeder Asset Management Inc. now owns 971 shares of the company’s stock valued at $26,000 after purchasing an additional 759 shares during the period. Washington Trust Advisors Inc. purchased a new position in Keurig Dr Pepper in the 4th quarter worth about $31,000. Rossby Financial LCC raised its holdings in Keurig Dr Pepper by 45.1% during the 4th quarter. Rossby Financial LCC now owns 1,090 shares of the company’s stock worth $31,000 after buying an additional 339 shares during the period. GW&K Investment Management LLC raised its holdings in Keurig Dr Pepper by 67.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,118 shares of the company’s stock worth $31,000 after buying an additional 451 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Keurig Dr Pepper by 102,300.0% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company’s stock worth $34,000 after buying an additional 1,023 shares during the period. 93.99% of the stock is owned by hedge funds and other institutional investors.

Key Keurig Dr Pepper News

Here are the key news stories impacting Keurig Dr Pepper this week:

• Positive Sentiment: KDP will sell its minority stake in Chobani and a Pennsylvania manufacturing facility back to Chobani for $925 million in pre-tax proceeds. Management said the cash will support deleveraging, potentially improving the company’s balance sheet following its acquisition of JDE Peet’s. Keurig Dr Pepper to sell back Chobani stake for $925 million
• Positive Sentiment: The transaction streamlines KDP’s operations ahead of its planned business split, allowing the company to focus capital and management attention on its core beverage businesses while monetizing a non-core investment and asset. Keurig Dr Pepper Advances Strategic Priorities Through Enhanced Partnership with Chobani
• Positive Sentiment: Despite selling its equity stake and facility, KDP is expanding its commercial relationship with Chobani. Chobani plans to invest approximately $1.2 billion in a Pennsylvania manufacturing campus, which should support a continuing strategic supply and distribution partnership. Chobani to Invest $1.2B in Pennsylvania Manufacturing Campus
• Neutral Sentiment: The deal removes KDP’s exposure to potential future gains from Chobani, and investors will still assess execution risks surrounding the planned corporate separation and the integration of JDE Peet’s. However, the upfront proceeds and debt-reduction objective are viewed as favorable for shareholder value. Keurig Dr Pepper to Sell Chobani Stake, Pennsylvania Campus for $925 Million

Keurig Dr Pepper Trading Up 0.1%

Shares of NASDAQ KDP opened at $31.89 on Wednesday. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $33.82. The business has a 50-day moving average price of $31.28 and a two-hundred day moving average price of $29.54. The firm has a market capitalization of $43.40 billion, a PE ratio of 32.21, a PEG ratio of 1.42 and a beta of 0.40.

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

Insider Buying and Selling

In related news, Director Aaron E. Alt acquired 7,862 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average cost of $31.83 per share, with a total value of $250,247.46. Following the completion of the transaction, the director owned 7,862 shares of the company’s stock, valued at approximately $250,247.46. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on KDP. The Goldman Sachs Group upgraded shares of Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a report on Thursday, June 25th. Weiss Ratings restated a “hold (c)” rating on shares of Keurig Dr Pepper in a report on Friday, August 7th. Morgan Stanley began coverage on shares of Keurig Dr Pepper in a research report on Thursday, August 20th. They issued an “overweight” rating and a $38.00 price target for the company. Citigroup raised their price objective on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Barclays lifted 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 report on Monday, August 10th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and a consensus price target of $34.94.

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.