Keurig Dr Pepper Inc. (NASDAQ:KDP) Short Interest Down 12.9% in July

Keurig Dr Pepper Inc. (NASDAQ:KDP) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 22,060,000 shares, a decrease of 12.9% from the July 15th total of 25,320,000 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily volume of 7,740,000 shares, the days-to-cover ratio is presently 2.9 days.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP traded up $0.06 during midday trading on Friday, reaching $35.39. 6,996,443 shares of the company were exchanged, compared to its average volume of 9,112,044. The stock has a market cap of $47.97 billion, a P/E ratio of 22.83, a PEG ratio of 2.60 and a beta of 0.62. Keurig Dr Pepper has a 1 year low of $27.66 and a 1 year high of $35.53. The stock has a fifty day simple moving average of $33.76 and a 200 day simple moving average of $32.42. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $3.92 billion for 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 was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. On average, research analysts forecast that Keurig Dr Pepper will post 1.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on KDP. Royal Bank of Canada restated an “outperform” rating and issued a $41.00 target price on shares of Keurig Dr Pepper in a research report on Friday, July 26th. TD Cowen increased their target price on shares of Keurig Dr Pepper from $32.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. reduced their price target on shares of Keurig Dr Pepper from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company increased 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 report on Wednesday, June 5th. Finally, Barclays reduced 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 report on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Insider Activity at Keurig Dr Pepper

In related news, insider Matthew Andrew Archambault sold 8,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $34.19, for a total transaction of $273,520.00. Following the transaction, the insider now directly owns 12,565 shares in the company, valued at $429,597.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of Keurig Dr Pepper by 312.1% in the second quarter. Blue Trust Inc. now owns 849 shares of the company’s stock valued at $26,000 after purchasing an additional 643 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Keurig Dr Pepper by 617.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 796 shares of the company’s stock valued at $27,000 after buying an additional 685 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in 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 last quarter. Hantz Financial Services Inc. purchased a new position in Keurig Dr Pepper during the second quarter worth $35,000. Finally, Riverview Trust Co acquired a new position in shares of Keurig Dr Pepper in the second quarter worth $39,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

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.