DAVENPORT & Co LLC Takes $566,000 Position in Keurig Dr Pepper Inc (NYSE:KDP)

DAVENPORT & Co LLC bought a new stake in shares of Keurig Dr Pepper Inc (NYSE:KDP) during the 2nd quarter, Holdings Channel reports. The fund bought 19,922 shares of the company’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of Keurig Dr Pepper by 225.3% during the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $34,000 after buying an additional 836 shares during the period. Signaturefd LLC boosted its position in shares of Keurig Dr Pepper by 112.0% during the first quarter. Signaturefd LLC now owns 1,338 shares of the company’s stock valued at $32,000 after purchasing an additional 707 shares in the last quarter. Veritas Investment Management LLP bought a new stake in shares of Keurig Dr Pepper during the first quarter valued at approximately $34,000. Sowell Financial Services LLC boosted its position in shares of Keurig Dr Pepper by 57.1% during the first quarter. Sowell Financial Services LLC now owns 1,477 shares of the company’s stock valued at $36,000 after purchasing an additional 537 shares in the last quarter. Finally, Trust Co. of Vermont boosted its position in shares of Keurig Dr Pepper by 26.5% during the first quarter. Trust Co. of Vermont now owns 2,150 shares of the company’s stock valued at $52,000 after purchasing an additional 450 shares in the last quarter. 22.86% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on KDP shares. Jefferies Financial Group lifted their price target on Keurig Dr Pepper from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, July 27th. SunTrust Banks restated a “buy” rating on shares of Keurig Dr Pepper in a research report on Wednesday, April 29th. Citigroup lifted their price target on Keurig Dr Pepper from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Barclays restated a “buy” rating on shares of Keurig Dr Pepper in a research report on Wednesday, April 29th. Finally, Goldman Sachs Group upgraded Keurig Dr Pepper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $27.00 to $33.00 in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Keurig Dr Pepper currently has a consensus rating of “Buy” and a consensus price target of $33.63.

Keurig Dr Pepper stock opened at $30.59 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.23 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $29.12 and its two-hundred day simple moving average is $27.40. Keurig Dr Pepper Inc has a 12 month low of $18.98 and a 12 month high of $32.00. The company has a market capitalization of $43.04 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61.

Keurig Dr Pepper (NYSE:KDP) last released its earnings results on Thursday, July 30th. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.81 billion. Keurig Dr Pepper had a return on equity of 7.91% and a net margin of 10.32%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. On average, equities research analysts predict that Keurig Dr Pepper Inc will post 1.4 EPS for the current year.

In other Keurig Dr Pepper news, Director Robert S. Singer purchased 1,000 shares of the stock in a transaction dated Friday, June 12th. The shares were purchased at an average cost of $28.14 per share, with a total value of $28,140.00. Following the completion of the acquisition, the director now directly owns 65,500 shares in the company, valued at approximately $1,843,170. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Holdings B.V. Jab purchased 7,380,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $27.16 per share, for a total transaction of $200,440,800.00. Corporate insiders own 0.41% of the company’s stock.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.

Further Reading: Why does the United States have a lingering trade deficit?

Want to see what other hedge funds are holding KDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Keurig Dr Pepper Inc (NYSE:KDP).

Institutional Ownership by Quarter for Keurig Dr Pepper (NYSE:KDP)

Receive News & Ratings for Keurig Dr Pepper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Keurig Dr Pepper and related companies with MarketBeat.com's FREE daily email newsletter.