Dark Forest Capital Management LP Buys 4,084 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Dark Forest Capital Management LP raised its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 52.2% in the second quarter, Holdings Channel reports. The firm owned 11,908 shares of the company’s stock after acquiring an additional 4,084 shares during the quarter. Dark Forest Capital Management LP’s holdings in Keurig Dr Pepper were worth $398,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC increased its stake in shares of Keurig Dr Pepper by 54.2% during the 4th quarter. Advisory Services Network LLC now owns 24,277 shares of the company’s stock worth $809,000 after purchasing an additional 8,536 shares during the last quarter. TD Asset Management Inc raised its stake in Keurig Dr Pepper by 22.9% in the fourth quarter. TD Asset Management Inc now owns 1,033,493 shares of the company’s stock valued at $34,436,000 after buying an additional 192,782 shares during the period. Alberta Investment Management Corp lifted its position in shares of Keurig Dr Pepper by 249.1% in the fourth quarter. Alberta Investment Management Corp now owns 64,575 shares of the company’s stock valued at $2,152,000 after buying an additional 46,075 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Keurig Dr Pepper by 15.5% in the fourth quarter. California State Teachers Retirement System now owns 1,739,098 shares of the company’s stock valued at $57,947,000 after buying an additional 233,702 shares during the last quarter. Finally, Prevatt Capital Ltd acquired a new position in shares of Keurig Dr Pepper during the 4th quarter worth approximately $23,331,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Keurig Dr Pepper Trading Up 0.3 %

KDP opened at $37.42 on Friday. The stock has a market capitalization of $50.74 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 2.86 and a beta of 0.62. The company has a quick ratio of 0.34, a current ratio of 0.51 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $38.28. The company has a 50-day simple moving average of $35.84 and a 200 day simple moving average of $33.77.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.91 billion. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. Analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.48%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BNP Paribas started coverage on Keurig Dr Pepper in a report on Monday, June 24th. They set a “neutral” rating and a $36.00 price target for the company. Truist Financial upgraded shares of Keurig Dr Pepper from a “sell” rating to a “hold” rating and upped their price target for the company from $27.00 to $34.00 in a research note on Monday, June 17th. TD Cowen raised their price objective on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Thursday. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company lifted their price target on Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Keurig Dr Pepper currently has an average rating of “Moderate Buy” and an average price target of $37.53.

Keurig Dr Pepper Profile

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.