Hsbc Holdings PLC Buys 890,861 Shares of Keurig Dr Pepper, Inc $KDP

Hsbc Holdings PLC lifted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 37.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,252,088 shares of the company’s stock after purchasing an additional 890,861 shares during the quarter. Hsbc Holdings PLC’s holdings in Keurig Dr Pepper were worth $107,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Kimelman & Baird LLC bought a new position in Keurig Dr Pepper during the 2nd quarter valued at about $107,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Keurig Dr Pepper in the second quarter worth $215,000. Rakuten Investment Management Inc. acquired a new position in Keurig Dr Pepper in the second quarter worth $10,847,000. Empowered Funds LLC bought a new stake in shares of Keurig Dr Pepper during the second quarter worth $2,666,000. Finally, United Capital Financial Advisors LLC bought a new stake in shares of Keurig Dr Pepper during the second quarter valued at approximately $653,000. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $32.59 on Monday. The company has a market capitalization of $44.35 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 1.54 and a beta of 0.40. The company has a 50-day simple moving average of $31.29 and a 200 day simple moving average of $29.60. 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, Inc has a 52 week low of $24.88 and a 52 week high of $33.82.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. On average, sell-side analysts predict that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current year.

Insider Buying and Selling at Keurig Dr Pepper

In other news, VP Angela A. Stephens sold 9,500 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president owned 55,786 shares of the company’s stock, valued at $1,824,202.20. This trade represents a 14.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Aaron E. Alt bought 7,862 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was 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 directly owned 7,862 shares in the company, valued at $250,247.46. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. HSBC upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, August 13th. Barclays upped their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Morgan Stanley assumed coverage on shares of Keurig Dr Pepper in a report on Thursday, August 20th. They issued an “overweight” rating and a $38.00 price target for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.