Connor Clark & Lunn Investment Management Ltd. reduced its position in Keurig Dr Pepper Inc. (NASDAQ:KDP – Free Report) by 22.8% in the 1st quarter, Holdings Channel reports. The firm owned 10,665 shares of the company’s stock after selling 3,141 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Keurig Dr Pepper were worth $376,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Ahrens Investment Partners LLC acquired a new stake in shares of Keurig Dr Pepper in the 1st quarter worth $27,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Keurig Dr Pepper in the 4th quarter worth $34,000. Kepos Capital LP acquired a new stake in shares of Keurig Dr Pepper in the 4th quarter worth $35,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Keurig Dr Pepper in the 4th quarter worth $36,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Keurig Dr Pepper in the 1st quarter worth $42,000. 52.29% of the stock is owned by institutional investors and hedge funds.
Keurig Dr Pepper Stock Performance
Shares of Keurig Dr Pepper stock opened at $33.28 on Friday. The business has a 50-day moving average of $32.59 and a 200 day moving average of $33.13. Keurig Dr Pepper Inc. has a 12 month low of $30.47 and a 12 month high of $39.80. The stock has a market capitalization of $46.50 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 2.75 and a beta of 0.57. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.39 and a quick ratio of 0.24.
Keurig Dr Pepper (NASDAQ:KDP – Get Free Report) last announced its earnings results on Thursday, July 27th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Keurig Dr Pepper had a return on equity of 9.72% and a net margin of 11.00%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the business posted $0.39 EPS. Keurig Dr Pepper’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.78 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on KDP. StockNews.com began coverage on Keurig Dr Pepper in a research note on Wednesday. They issued a “hold” rating for the company. Barclays raised their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, July 28th. UBS Group upgraded Keurig Dr Pepper from a “neutral” rating to a “buy” rating and increased their price target for the stock from $37.00 to $42.00 in a report on Tuesday, August 15th. JPMorgan Chase & Co. lowered their price target on Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, July 17th. Finally, Morgan Stanley upgraded Keurig Dr Pepper from an “equal weight” rating to an “overweight” rating and set a $37.00 price target for the company in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.10.
Check Out Our Latest Research Report on Keurig Dr Pepper
Insider Activity at Keurig Dr Pepper
In other news, insider Karin Rotem-Wildeman bought 47,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was bought at an average cost of $34.37 per share, for a total transaction of $1,615,390.00. Following the acquisition, the insider now directly owns 56,514 shares of the company’s stock, valued at approximately $1,942,386.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.81% of the stock is currently owned by company insiders.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.
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