Quarry LP Has $83,000 Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Quarry LP lifted its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 96.8% during the 2nd quarter, Holdings Channel reports. The firm owned 2,489 shares of the company’s stock after purchasing an additional 1,224 shares during the period. Quarry LP’s holdings in Keurig Dr Pepper were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. KBC Group NV lifted its position in Keurig Dr Pepper by 0.7% during the fourth quarter. KBC Group NV now owns 276,157 shares of the company’s stock worth $9,202,000 after purchasing an additional 1,984 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of Keurig Dr Pepper by 49.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 62,344 shares of the company’s stock worth $2,077,000 after acquiring an additional 20,742 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Keurig Dr Pepper by 6.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,947,266 shares of the company’s stock worth $164,843,000 after acquiring an additional 294,984 shares in the last quarter. First Trust Advisors LP increased its stake in Keurig Dr Pepper by 2.8% in the fourth quarter. First Trust Advisors LP now owns 3,244,589 shares of the company’s stock valued at $108,110,000 after acquiring an additional 89,031 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in Keurig Dr Pepper in the fourth quarter valued at approximately $278,000. 85.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KDP shares. Truist Financial raised Keurig Dr Pepper from a “sell” rating to a “hold” rating and raised their target price for the company from $27.00 to $34.00 in a report on Monday, June 17th. Citigroup upgraded Keurig Dr Pepper from a “neutral” rating to a “buy” rating and lifted their target price for the company from $36.00 to $43.00 in a research report on Monday, September 23rd. Wells Fargo & Company increased their target price on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, June 5th. Barclays decreased their price target on shares of Keurig Dr Pepper from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Finally, Evercore ISI upgraded shares of Keurig Dr Pepper to a “hold” rating in a research report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Keurig Dr Pepper has a consensus rating of “Moderate Buy” and an average price target of $37.53.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $37.02 on Thursday. The stock has a market capitalization of $50.18 billion, a PE ratio of 23.88, a PEG ratio of 2.86 and a beta of 0.62. The business’s 50 day simple moving average is $36.11 and its 200 day simple moving average is $33.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.51 and a quick ratio of 0.34. Keurig Dr Pepper Inc. has a one year low of $27.66 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Keurig Dr Pepper had a net margin of 14.47% and a return on equity of 10.32%. Keurig Dr Pepper’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.23 per share. This is a positive change from Keurig Dr Pepper’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, September 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.49%. Keurig Dr Pepper’s dividend payout ratio is presently 59.35%.

Keurig Dr Pepper Company 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.