Freestone Grove Partners LP Invests $122.64 Million in Keurig Dr Pepper, Inc $KDP

Freestone Grove Partners LP acquired a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,746,929 shares of the company’s stock, valued at approximately $122,637,000. Keurig Dr Pepper comprises 0.8% of Freestone Grove Partners LP’s holdings, making the stock its 13th largest position.

Other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC lifted its position in shares of Keurig Dr Pepper by 30.6% in the 1st quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock worth $530,000 after acquiring an additional 3,627 shares during the period. Empowered Funds LLC grew its holdings in shares of Keurig Dr Pepper by 248.0% during the 1st quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock worth $2,389,000 after purchasing an additional 49,741 shares in the last quarter. Woodline Partners LP increased its position in shares of Keurig Dr Pepper by 49.2% during the first quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock valued at $3,452,000 after purchasing an additional 33,258 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Keurig Dr Pepper during the second quarter valued at approximately $328,000. Finally, Jump Financial LLC raised its stake in shares of Keurig Dr Pepper by 253.6% in the second quarter. Jump Financial LLC now owns 76,089 shares of the company’s stock valued at $2,516,000 after purchasing an additional 54,571 shares in the last quarter. Institutional investors own 93.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on KDP shares. HSBC raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Thursday, August 13th. JPMorgan Chase & Co. increased their price objective on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a report on Tuesday, August 4th. Barclays lifted their target price on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Finally, Citigroup increased their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and an average target price of $34.94.

Keurig Dr Pepper Price Performance

Shares of KDP stock opened at $32.21 on Thursday. The stock’s fifty day simple moving average is $31.18 and its 200 day simple moving average is $29.45. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $33.82. The firm has a market cap of $43.83 billion, a price-to-earnings ratio of 32.54, a P/E/G ratio of 1.42 and a beta of 0.40. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.48 and a quick ratio of 0.28.

Keurig Dr Pepper (NASDAQ:KDP) last issued its earnings results on Thursday, August 6th. The company reported $0.57 EPS for the quarter, beating the consensus estimate 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 company had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the previous year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 75.6% compared to the same quarter last year. On average, analysts expect that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current fiscal year.

About Keurig Dr Pepper

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.