Private Management Group Inc. Has $42.61 Million Stake in Keurig Dr Pepper, Inc $KDP

Private Management Group Inc. increased its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,521,204 shares of the company’s stock after buying an additional 132,774 shares during the period. Keurig Dr Pepper comprises about 1.2% of Private Management Group Inc.’s investment portfolio, making the stock its 10th largest position. Private Management Group Inc.’s holdings in Keurig Dr Pepper were worth $42,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in KDP. Norges Bank acquired a new position in Keurig Dr Pepper in the fourth quarter worth $568,361,000. Capital International Investors boosted its holdings in Keurig Dr Pepper by 1,987.4% in the fourth quarter. Capital International Investors now owns 16,858,031 shares of the company’s stock worth $472,193,000 after purchasing an additional 16,050,437 shares during the period. Marshall Wace LLP boosted its holdings in Keurig Dr Pepper by 1,546.0% in the third quarter. Marshall Wace LLP now owns 2,937,129 shares of the company’s stock worth $74,926,000 after purchasing an additional 2,758,685 shares during the period. Man Group plc boosted its holdings in Keurig Dr Pepper by 4,084.2% in the third quarter. Man Group plc now owns 2,411,713 shares of the company’s stock worth $61,523,000 after purchasing an additional 2,354,075 shares during the period. Finally, Voloridge Investment Management LLC boosted its holdings in Keurig Dr Pepper by 2,129.0% in the third quarter. Voloridge Investment Management LLC now owns 2,374,879 shares of the company’s stock worth $60,583,000 after purchasing an additional 2,268,336 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KDP shares. BNP Paribas Exane raised shares of Keurig Dr Pepper from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a report on Wednesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Evercore set a $30.00 price objective on shares of Keurig Dr Pepper in a report on Friday, April 24th. UBS Group lifted their price objective on shares of Keurig Dr Pepper from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Weiss Ratings raised shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.00.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $31.23 on Friday. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $35.94. The company has a market cap of $42.49 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.45 and a beta of 0.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The firm has a fifty day moving average of $28.40 and a 200-day moving average of $28.22.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 2.9%. Keurig Dr Pepper’s payout ratio is 68.15%.

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.