Manning & Napier Advisors LLC Acquires New Stake in Keurig Dr Pepper, Inc $KDP

Manning & Napier Advisors LLC bought a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 127,806 shares of the company’s stock, valued at approximately $4,282,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in Keurig Dr Pepper by 30.6% in the first quarter. NewEdge Advisors LLC now owns 15,488 shares of the company’s stock worth $530,000 after acquiring an additional 3,627 shares in the last quarter. Empowered Funds LLC boosted its position 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 valued at $2,389,000 after purchasing an additional 49,741 shares in the last quarter. Woodline Partners LP grew its stake in shares of Keurig Dr Pepper by 49.2% in the 1st quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock worth $3,452,000 after purchasing an additional 33,258 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter worth approximately $328,000. Finally, Jump Financial LLC raised its holdings in shares of Keurig Dr Pepper by 253.6% in the 2nd quarter. Jump Financial LLC now owns 76,089 shares of the company’s stock worth $2,516,000 after purchasing an additional 54,571 shares in the last quarter. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Performance

Shares of KDP opened at $32.51 on Tuesday. The company has a market capitalization of $44.24 billion, a PE ratio of 32.84, a PEG ratio of 1.43 and a beta of 0.40. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.28 and a current ratio of 0.48. The company’s 50 day moving average price is $31.16 and its 200 day moving average price is $29.40. 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 released its 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. 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 during the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue was up 75.6% compared to the same quarter last year. Research analysts expect that Keurig Dr Pepper, Inc will post 2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a research note on Wednesday, July 8th. UBS Group increased their price objective on Keurig Dr Pepper from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wells Fargo & Company set a $37.00 target price on Keurig Dr Pepper in a report on Wednesday, July 1st. JPMorgan Chase & Co. boosted their target price on Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Citigroup increased their price target on Keurig Dr Pepper from $32.00 to $37.00 and gave the company 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.94.

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.