Choreo LLC Makes New $367,000 Investment in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Choreo LLC purchased a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,158 shares of the company’s stock, valued at approximately $367,000.

Several other hedge funds have also made changes to their positions in KDP. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Keurig Dr Pepper by 617.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock worth $27,000 after purchasing an additional 685 shares in the last quarter. Blue Trust Inc. lifted its position in Keurig Dr Pepper by 312.1% in the 2nd quarter. Blue Trust Inc. now owns 849 shares of the company’s stock worth $26,000 after buying an additional 643 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Keurig Dr Pepper by 51.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock valued at $30,000 after buying an additional 301 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of Keurig Dr Pepper during the 2nd quarter valued at $35,000. Finally, Riverview Trust Co acquired a new position in shares of Keurig Dr Pepper in the second quarter worth $39,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KDP. Wells Fargo & Company boosted their target price on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Wednesday, June 5th. Truist Financial upgraded Keurig Dr Pepper from a “sell” rating to a “hold” rating and increased their price objective for the stock from $27.00 to $34.00 in a report on Monday, June 17th. BNP Paribas initiated coverage on shares of Keurig Dr Pepper in a research note on Monday, June 24th. They issued a “neutral” rating and a $36.00 target price for the company. Barclays dropped 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 research note on Friday, July 19th. Finally, Evercore ISI raised shares of Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $37.35 on Tuesday. The stock has a 50-day simple moving average of $34.95 and a 200 day simple moving average of $33.26. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $37.84. The stock has a market capitalization of $50.63 billion, a PE ratio of 24.10, a P/E/G ratio of 2.79 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.51.

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

Keurig Dr Pepper Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.46%. Keurig Dr Pepper’s dividend payout ratio is 59.35%.

About Keurig Dr Pepper

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.