Pictet Asset Management Holding SA Has $22.79 Million Stock Position in Keurig Dr Pepper, Inc $KDP

Pictet Asset Management Holding SA boosted its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 16.8% in the 1st quarter, HoldingsChannel reports. The firm owned 865,597 shares of the company’s stock after buying an additional 124,337 shares during the period. Pictet Asset Management Holding SA’s holdings in Keurig Dr Pepper were worth $22,792,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Keurig Dr Pepper by 290.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock worth $1,475,000 after purchasing an additional 39,156 shares in the last quarter. Ossiam increased its stake in shares of Keurig Dr Pepper by 508.0% in the third quarter. Ossiam now owns 726,288 shares of the company’s stock valued at $18,528,000 after buying an additional 606,826 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of Keurig Dr Pepper in the third quarter valued at $2,551,000. PNC Financial Services Group Inc. raised its holdings in shares of Keurig Dr Pepper by 47.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock valued at $5,030,000 after buying an additional 57,797 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of Keurig Dr Pepper by 194.6% in the fourth quarter. Merit Financial Group LLC now owns 87,054 shares of the company’s stock valued at $2,438,000 after buying an additional 57,500 shares during the last quarter. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Stock Up 2.0%

Shares of NASDAQ:KDP opened at $33.37 on Thursday. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $35.94. The company has a 50 day moving average of $30.07 and a 200-day moving average of $28.58. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The stock has a market cap of $45.40 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 1.50 and a beta of 0.39.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $7.23 billion. During the same period last year, the firm earned $0.42 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, June 26th. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 68.15%.

Analysts Set New Price Targets

Several research firms have weighed in on KDP. Evercore set a $30.00 price objective on shares of Keurig Dr Pepper in a research report on Friday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. UBS Group upped their price objective on Keurig Dr Pepper from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Keurig Dr Pepper from $34.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.40.

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.