USA Financial Formulas Acquires 24,212 Shares of Keurig Dr Pepper, Inc $KDP

USA Financial Formulas bought a new position in Keurig Dr Pepper, Inc (NASDAQ:KDP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,212 shares of the company’s stock, valued at approximately $735,000.

A number of other hedge funds have also modified their holdings of the stock. Legal & General Group Plc acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter valued at about $269,336,000. Lone Peak Global Investors LLC lifted its position in shares of Keurig Dr Pepper by 6.2% in the second quarter. Lone Peak Global Investors LLC now owns 1,098,204 shares of the company’s stock worth $35,944,000 after purchasing an additional 63,646 shares in the last quarter. Moore Capital Management LP purchased a new stake in shares of Keurig Dr Pepper in the second quarter worth approximately $10,584,000. Saudi Central Bank lifted its position in shares of Keurig Dr Pepper by 89.7% in the second quarter. Saudi Central Bank now owns 90,351 shares of the company’s stock worth $2,957,000 after purchasing an additional 42,712 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Keurig Dr Pepper during the second quarter worth approximately $8,341,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KDP has been the topic of several research reports. Wells Fargo & Company set a $37.00 price objective on shares of Keurig Dr Pepper in a research note on Wednesday, July 1st. Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a research note on Wednesday, July 8th. HSBC upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, August 13th. Piper Sandler reaffirmed an “overweight” rating on shares of Keurig Dr Pepper in a research note on Wednesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.00.

Keurig Dr Pepper Stock Up 1.3%

KDP stock opened at $34.62 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.28 and a debt-to-equity ratio of 0.74. Keurig Dr Pepper, Inc has a 1 year low of $24.88 and a 1 year high of $34.71. The company has a fifty day simple moving average of $31.59 and a 200 day simple moving average of $30.32. The firm has a market cap of $47.11 billion, a PE ratio of 34.97, a PEG ratio of 1.63 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data 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. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. Keurig Dr Pepper’s revenue for the quarter was up 75.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. Sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 2.30 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Monday, September 28th were given a $0.23 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. Keurig Dr Pepper’s payout ratio is currently 92.93%.

Insider Transactions at Keurig Dr Pepper

In related news, Director Aaron Alt purchased 7,862 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was bought at an average price of $31.83 per share, for a total transaction of $250,247.46. Following the purchase, the director owned 7,862 shares in the company, valued at $250,247.46. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $32.55, for a total value of $390,600.00. Following the transaction, the insider directly owned 84,171 shares in the company, valued at approximately $2,739,766.05. This represents a 12.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.34% of the stock is currently owned by corporate insiders.

About Keurig Dr Pepper

Keurig Dr Pepper Inc (NASDAQ: KDP) is a beverage company that produces, distributes and markets a broad portfolio of hot and cold beverages. Its products include coffee, soft drinks, flavored sparkling water, juices, teas, sports drinks and mixers, sold under brands such as Keurig, Dr Pepper, Green Mountain Coffee Roasters, Canada Dry, Snapple, 7UP, A&W, Bai and Core Hydration.

The company’s coffee business includes single-serve brewing systems, coffee makers, pods and related beverages.