Keurig Dr Pepper Inc (NYSE:KDP) Sees Significant Growth in Short Interest

Keurig Dr Pepper Inc (NYSE:KDP) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 28,365,800 shares, a growth of 18.3% from the June 30th total of 23,986,800 shares. Approximately 14.1% of the shares of the company are sold short. Based on an average daily volume of 2,660,000 shares, the days-to-cover ratio is currently 10.7 days.

KDP has been the subject of several analyst reports. Credit Suisse Group initiated coverage on shares of Keurig Dr Pepper in a research note on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 price objective for the company. Bank of America lifted their price objective on shares of Keurig Dr Pepper from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. ValuEngine upgraded shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Morgan Stanley set a $24.00 price objective on shares of Keurig Dr Pepper and gave the stock a “sell” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada set a $31.00 target price on shares of Keurig Dr Pepper and gave the company a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $29.24.

Shares of NYSE:KDP traded up $0.42 during midday trading on Thursday, hitting $27.84. The stock had a trading volume of 2,576,469 shares, compared to its average volume of 2,571,918. The company’s 50-day moving average price is $28.59 and its 200-day moving average price is $28.17. The company has a market capitalization of $38.90 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.53 and a beta of 0.46. The company has a quick ratio of 0.23, a current ratio of 0.33 and a debt-to-equity ratio of 0.58. Keurig Dr Pepper has a fifty-two week low of $22.19 and a fifty-two week high of $31.06.



Keurig Dr Pepper (NYSE:KDP) last issued its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Keurig Dr Pepper had a net margin of 8.82% and a return on equity of 7.15%. The business’s revenue for the quarter was up 196.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. Research analysts expect that Keurig Dr Pepper will post 1.22 EPS for the current fiscal year.

In other Keurig Dr Pepper news, Director Robert S. Singer acquired 2,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was acquired at an average price of $28.98 per share, for a total transaction of $57,960.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert S. Singer acquired 3,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $28.65 per share, with a total value of $85,950.00. The disclosure for this purchase can be found here. Insiders acquired a total of 23,554 shares of company stock valued at $669,174 in the last quarter. Corporate insiders own 0.44% of the company’s stock.

Large investors have recently modified their holdings of the company. Jennison Associates LLC grew its holdings in shares of Keurig Dr Pepper by 83.0% during the 1st quarter. Jennison Associates LLC now owns 863,468 shares of the company’s stock valued at $24,151,000 after purchasing an additional 391,603 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Keurig Dr Pepper by 2,827.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 7,494 shares of the company’s stock worth $210,000 after acquiring an additional 7,238 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in Keurig Dr Pepper during the 1st quarter worth approximately $481,000. CIBC Asset Management Inc grew its holdings in Keurig Dr Pepper by 8.0% during the 1st quarter. CIBC Asset Management Inc now owns 9,793 shares of the company’s stock worth $274,000 after acquiring an additional 726 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. grew its holdings in Keurig Dr Pepper by 11.5% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 10,042 shares of the company’s stock worth $284,000 after acquiring an additional 1,036 shares during the last quarter. Institutional investors own 14.15% of the company’s stock.

About Keurig Dr Pepper

Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.

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