Suvretta Capital Management LLC Takes Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Suvretta Capital Management LLC purchased a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 703,095 shares of the company's stock, valued at approximately $26,352,000. Suvretta Capital Management LLC owned about 0.05% of Keurig Dr Pepper at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of KDP. Vinva Investment Management Ltd lifted its holdings in Keurig Dr Pepper by 3.0% in the third quarter. Vinva Investment Management Ltd now owns 40,347 shares of the company's stock valued at $1,510,000 after buying an additional 1,170 shares during the period. Public Sector Pension Investment Board boosted its holdings in Keurig Dr Pepper by 39.6% during the third quarter. Public Sector Pension Investment Board now owns 1,171,557 shares of the company's stock worth $43,910,000 after buying an additional 332,500 shares during the last quarter. National Wealth Management Group LLC acquired a new position in shares of Keurig Dr Pepper during the 3rd quarter worth about $353,000. True Vision MN LLC increased its stake in shares of Keurig Dr Pepper by 22.3% in the 3rd quarter. True Vision MN LLC now owns 14,164 shares of the company's stock valued at $534,000 after acquiring an additional 2,579 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Keurig Dr Pepper by 5.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 965,290 shares of the company's stock valued at $36,179,000 after acquiring an additional 46,339 shares during the period. Institutional investors and hedge funds own 85.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Jefferies Financial Group lowered their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating for the company in a research report on Friday, October 25th. TD Cowen lifted their target price on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Thursday, September 26th. Citigroup lowered their price target on Keurig Dr Pepper from $43.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. Finally, Wells Fargo & Company dropped their target price on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Keurig Dr Pepper presently has an average rating of "Moderate Buy" and an average target price of $38.36.

Keurig Dr Pepper Stock Up 0.2 %

Shares of Keurig Dr Pepper stock traded up $0.07 on Friday, reaching $32.65. 4,642,583 shares of the company were exchanged, compared to its average volume of 9,265,329. The company has a market capitalization of $44.29 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.52 and a beta of 0.63. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28. The company has a 50-day moving average of $34.72 and a 200 day moving average of $34.66.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the firm posted $0.48 earnings per share. The company's quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities 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 company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.23 dividend. This is an increase from Keurig Dr Pepper's previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, September 27th. Keurig Dr Pepper's dividend payout ratio (DPR) is 55.76%.

Insider Buying and Selling

In other Keurig Dr Pepper news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the transaction, the insider now directly owns 214,443,879 shares in the company, valued at $7,001,592,649.35. The trade was a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.