Keurig Dr Pepper, Inc $KDP Stock Position Lowered by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 9.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 55,939,797 shares of the company’s stock after selling 5,801,596 shares during the period. Wellington Management Group LLP’s holdings in Keurig Dr Pepper were worth $1,830,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KDP. BlackRock Inc. acquired a new stake in Keurig Dr Pepper in the 2nd quarter valued at about $4,697,645,000. State Street Corp grew its stake 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 purchasing an additional 986,700 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Keurig Dr Pepper by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company’s stock worth $887,021,000 after purchasing an additional 1,187,457 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Keurig Dr Pepper in the 4th quarter worth approximately $727,667,000. Finally, Morgan Stanley raised its holdings in shares of Keurig Dr Pepper by 3.0% in the 4th quarter. Morgan Stanley now owns 25,357,596 shares of the company’s stock worth $710,266,000 after purchasing an additional 730,864 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays raised their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. The Goldman Sachs Group raised Keurig Dr Pepper from a “neutral” rating to a “neutral” rating in a report on Thursday, June 25th. Wells Fargo & Company set a $37.00 price objective on Keurig Dr Pepper in a research report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price objective on Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley started coverage on Keurig Dr Pepper in a report on Thursday, August 20th. They issued an “overweight” rating and a $38.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.94.

Insider Activity

In other news, Director Aaron E. Alt acquired 7,862 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was acquired at an average cost of $31.83 per share, for a total transaction of $250,247.46. Following the completion of the acquisition, the director owned 7,862 shares in the company, valued at approximately $250,247.46. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Keurig Dr Pepper Price Performance

KDP opened at $32.18 on Friday. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $33.82. The firm has a market capitalization of $43.79 billion, a P/E ratio of 32.51, a PEG ratio of 1.42 and a beta of 0.40. The company has a quick ratio of 0.28, a current ratio of 0.48 and a debt-to-equity ratio of 0.74. The stock has a fifty day moving average of $31.24 and a 200-day moving average of $29.50.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.57 EPS for the quarter, beating 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 period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue was up 75.6% on a year-over-year basis. Equities analysts forecast that Keurig Dr Pepper, Inc will post 2.3 EPS for the current fiscal year.

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.