Frank Rimerman Advisors LLC Invests $457,000 in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Frank Rimerman Advisors LLC purchased a new position in Keurig Dr Pepper Inc. (NASDAQ:KDP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,689 shares of the company’s stock, valued at approximately $457,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Keurig Dr Pepper by 2.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company’s stock worth $445,648,000 after purchasing an additional 317,837 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Keurig Dr Pepper during the second quarter valued at about $1,616,000. Asset Management Group Inc. bought a new stake in shares of Keurig Dr Pepper in the second quarter worth about $203,000. Summit Trail Advisors LLC lifted its position in shares of Keurig Dr Pepper by 42.0% in the second quarter. Summit Trail Advisors LLC now owns 18,639 shares of the company’s stock worth $626,000 after buying an additional 5,514 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Keurig Dr Pepper by 403.1% during the second quarter. Thrivent Financial for Lutherans now owns 237,597 shares of the company’s stock valued at $7,936,000 after buying an additional 190,374 shares during the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Truist Financial raised 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. Wells Fargo & Company lifted their price objective on shares of Keurig Dr Pepper from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Citigroup upgraded shares of Keurig Dr Pepper from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $43.00 in a research report on Monday. Finally, UBS Group lifted their price target on Keurig Dr Pepper from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Keurig Dr Pepper Stock Performance

KDP stock opened at $37.83 on Wednesday. Keurig Dr Pepper Inc. has a twelve month low of $27.66 and a twelve month high of $38.28. The firm has a market cap of $51.28 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.79 and a beta of 0.61. The business’s fifty day simple moving average is $35.58 and its two-hundred day simple moving average is $33.62. 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 (NASDAQ:KDP) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $3.92 billion for 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 revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. Analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share 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. Stockholders of record on Friday, September 27th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.43%. 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. Keurig Dr Pepper’s payout ratio is currently 59.35%.

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.