Tocqueville Asset Management L.P. Invests $7.26 Million in Keurig Dr Pepper, Inc $KDP

Tocqueville Asset Management L.P. bought a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) in the second quarter, Holdings Channel.com reports. The fund bought 221,872 shares of the company’s stock, valued at approximately $7,262,000.

Other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in Keurig Dr Pepper by 30.6% in the 1st 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 raised its stake in shares of Keurig Dr Pepper by 248.0% during the first quarter. Empowered Funds LLC now owns 69,801 shares of the company’s stock valued at $2,389,000 after acquiring an additional 49,741 shares in the last quarter. Woodline Partners LP raised its stake in shares of Keurig Dr Pepper by 49.2% during the first quarter. Woodline Partners LP now owns 100,870 shares of the company’s stock valued at $3,452,000 after acquiring an additional 33,258 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Keurig Dr Pepper in the second quarter valued at approximately $328,000. Finally, Jump Financial LLC boosted its holdings in shares of Keurig Dr Pepper by 253.6% in the second quarter. Jump Financial LLC now owns 76,089 shares of the company’s stock valued at $2,516,000 after purchasing an additional 54,571 shares during the period. 93.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on KDP shares. Zacks Research downgraded Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Sanford C. Bernstein set a $39.00 target price on Keurig Dr Pepper in a report on Wednesday, July 8th. Barclays increased their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Evercore set a $30.00 price target on Keurig Dr Pepper in a research note on Friday, April 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Keurig Dr Pepper in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.94.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $31.06 on Thursday. The firm has a market cap of $42.27 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 1.37 and a beta of 0.40. The company’s 50 day moving average is $31.13 and its 200 day moving average is $29.31. The company has a quick ratio of 0.28, a current ratio of 0.48 and a debt-to-equity ratio of 0.74. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 EPS for the current fiscal year.

Keurig Dr Pepper Profile

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.