KDP at a glance
Keurig Dr Pepper (KDP, SEC CIK 1418135) filed its latest 10-K annual report on February 24, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on October 1, 2026 and Form 4 insider filings as recently as September 18, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Keurig Dr Pepper (KDP) reported revenue of $16.6 billion (up 8.2% from FY2024) and net income of $2.1 billion. Diluted EPS was $1.53.
- As of June 30, 2026, 39 institutional investment managers tracked by SignalX reported holding Keurig Dr Pepper (KDP) shares worth $24.1 billion in 13F-HR filings.
- In the last 90 days, KDP insiders reported 1 open-market purchase ($250K) and 3 open-market sales ($1.1M) on Form 4, a net sale of $839K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $16.6B
- +8.2% vs prior year
- Insiders · 90 days
- 1 buy · 3 sells
- Net −$839K
- 13F holders
- 39 funds
- $24.1B · +3 vs prior quarter
- Latest 8-K
- Oct 1, 2026
- Item 8.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- North American beverage company manufacturing/distributing hot & cold beverages and Keurig single-serve brewing systems across 125+ owned, licensed, and partner brands
- Aug 2025: announced acquisition of JDE Peet's (Jacobs, L'OR, Peet's brands) with planned post-close separation into two independent public companies; beverage vs coffee
- 2025 innovations: Dr Pepper Blackberry, 7UP Tropical, Bloom Pop prebiotic CSD partnership; new K-Mini Mate and K-Crema brewers; debut of Keurig Coffee Collective brand with proprietary "Refined Grind" technique
- Keurig Alta brewer with plastic- and aluminum-free K-Rounds pods in consumer beta testing; commercial launch targeted late 2026
- Walmart ~16% of consolidated net sales; workforce ~30,600 employees primarily in North America
Risk Factors
- JDE Peet's acquisition (announced Aug 24, 2025) adds Russia exposure: 6% of JDE Peet's consolidated revenue, subject to Ukraine-conflict sanctions risk
- Significant debt load post-JDE Peet's close plus Convertible Preferred Stock at 4.75% dividend rate risks credit rating downgrade from Moody's/S&P
- Brewer supply chain concentrated among small number of Asia-based co-manufacturers: single point of failure for Keurig hardware
- K-Cup pod partners risk vertical integration or switching to competing manufacturers, compressing gross margins on core revenue stream
- $44B combined goodwill (~$20B) and intangible assets (~$24B) out of $55B total assets: impairment charges already recorded in FY2025
Management Discussion & Analysis
- Revenue $16,603M, up $1,252M (+8.2%) YoY; volume/mix +4.8% (GHOST acquisition +3.8pp) and net price realization +3.8%
- Gross margin 54.2% vs 55.6% (-140 bps); operating margin 21.5% vs 16.9% (+460 bps), latter aided by prior-year impairment charges ($640M goodwill + intangibles) and $225M ABI termination fee comparison
- Best segment: U.S. Refreshment Beverages, net sales $10,439M (+11.9%), operating margin 28.2% vs 20.1% (+810 bps); worst: U.S. Coffee, operating margin 24.1% vs 27.2% (-310 bps), K-Cup pods -4.8%, appliances -19.9%
- Capex $486M (vs $563M prior year); dividends $0.92/share vs $0.89; buybacks collapsed to $9M vs $1,110M: capital redeployed toward JDE Peet's acquisition financing ($4B JV investment + $4.5B convertible preferred issuance)
- Key forward risk: JDE Peet's deal triggered Moody's review for downgrade and S&P CreditWatch Negative; tariff headwinds pressuring COGS; U.S. Coffee category softness ongoing
AI summary of the KDP 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $7,309M, up 75.6% YoY, driven by JDE Peet’s acquisition
- Gross margin 41.9% vs 54.2%; operating margin 8.6% vs 21.6%
- Best segment U.S. Refreshment Beverages: sales $2,925M, operating margin 29.3% vs 28.0%
- Worst segment JDE Peet’s: sales $2,802M, operating loss $62M, margin (2.2%)
- Operating cash flow $1,176M vs $640M; acquisition investing outflow $16,899M and financing inflow $16,546M
- Near-term risks: integration costs, tariffs, higher debt and financing costs, downgraded credit ratings
Risk Factors
- No newly added or changed risk factors identified in the provided excerpt
- Supply-chain disruption and input-cost inflation threatening product availability and margins
- Competitive pressure across beverage categories and single-serve coffee formats threatening near-term sales
- Regulatory exposure from product labeling, health claims, packaging, privacy, climate, and plastics requirements
- Significant acquisition-related debt from JDE Peet’s increasing financial-performance pressure and flexibility constraints
AI summary of the KDP 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- Russ Torres appointed Coffee Operating Unit CEO effective November 3, 2026
- Torres designated future CEO of Global Coffee Co., expected standalone entity from KDP’s planned separation
Item EX-99.1: Item EX-99.1
- Russ Torres named CEO of future Global Coffee Co., joining November 3, 2026
- Torres to lead JDE Peet’s integration before targeted early-2027 separation
Item 8.01: Other Events
- Chobani interests redeemed for $800 million, monetizing KDP’s investment
- Consideration included $400 million cash and a $400 million promissory note
Item 8.01: Other Events
- Quarterly dividend declared at $0.23 per share
- Payment scheduled for October 9, 2026
AI summaries of KDP 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for KDP
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Alt Aaron E | A | Sep 16, 2026 | 2,752 | - |
| DRISCOLL BRIAN J | A | Sep 16, 2026 | 2,752 | - |
| Gorli Eric | M | Sep 14, 2026 | 3,317 | - |
| Shoemaker Anthony | M | Sep 14, 2026 | 59,781 | - |
| Sandler Debra A. | M | Sep 14, 2026 | 2,285 | - |
| Sandler Debra A. | M | Sep 14, 2026 | 2,285 | - |
| Shoemaker Anthony | M | Sep 14, 2026 | 785 | - |
| Gorli Eric | F | Sep 14, 2026 | 1,306 | $31.58 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $15.4B | $16.6B |
| Gross Profit | - | $8.5B | $9.0B |
| Operating Income | - | $2.6B | $3.6B |
| Net Income | - | $1.4B | $2.1B |
| Gross Margin | - | 55.6% | 54.2% |
| Op. Margin | - | 16.9% | 21.5% |
| Net Margin | - | 9.4% | 12.5% |
| Balance Sheet | |||
| Total Assets | $52.1B | $53.4B | $55.5B |
| Equity | - | $24.2B | $25.5B |
| ROE | - | 5.9% | 8.1% |
| Per Share | |||
| EPS | - | $1.05 | $1.53 |
| Cash Flow | |||
| Operating CF | - | $2.2B | $2.0B |
| CapEx | $425.0M | $563.0M | $486.0M |
Source: XBRL data in Keurig Dr Pepper (KDP)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate KDP share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 39 | $24.10B |
| Q1 2026 | 36 | $17.89B |
| Q4 2025 | 35 | $19.08B |
| Q3 2025 | 36 | $17.72B |
| Q2 2025 | 35 | $22.22B |
| Q1 2025 | 34 | $16.28B |
| Q4 2024 | 29 | $11.59B |
| Q3 2024 | 25 | $4.92B |
- FMR LLC (Fidelity)+26.77M (+18%)
- BlackRock+18.02M (+14%)
- Citadel Advisors LLC+14.87M (+827%)
- Millennium Management+3.72M (+966%)
- Citigroup+2.62M (+103%)
- Morgan Stanley−9.44M (-35%)
- AQR Capital Management−3.39M (-72%)
- JPMorgan Chase & Co−1.90M (-6%)
- State Street Corp−993.8K (-2%)
- Prudential Financial−409.9K (-38%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 269 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
KDP filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Oct 1, 2026 | - | Analysis | - |
| 8-K | Sep 28, 2026 | - | Analysis | - |
| 4 | Sep 18, 2026 | - | - | - |
| 4 | Sep 18, 2026 | - | - | - |
| 8-K | Sep 16, 2026 | - | Analysis | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 10, 2026 | - | - | - |
| 4 | Sep 4, 2026 | - | - | - |
| 8-K | Sep 1, 2026 | - | Analysis | - |
| 4 | Aug 27, 2026 | - | - | - |
| 8-K | Aug 12, 2026 | - | Analysis | - |
| 10-Q | Aug 10, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 8-K | Jun 25, 2026 | - | Analysis | - |
| 8-K | Jun 23, 2026 | - | Analysis | - |
| 8-K | Jun 18, 2026 | - | Analysis | - |
| 8-K | Jun 11, 2026 | - | Analysis | - |
| 4 | Jun 3, 2026 | - | - | |
| 8-K | May 22, 2026 | - | Analysis | |
| 4 | May 22, 2026 | - | - | |
| 8-K | May 20, 2026 | - | Analysis | |
| SC 13G | Apr 30, 2026 | - | - | |
| 4 | Apr 29, 2026 | - | - | - |
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KDP SEC filings: frequently asked questions
Are KDP insiders buying or selling?
In the last 90 days, Keurig Dr Pepper (KDP) officers, directors and 10% owners reported 1 open-market purchase worth $250,247 by 1 insider and 3 open-market sales worth $1.1 million by 2 insiders on Form 4, a net sale of $838,603. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold KDP stock?
As of June 30, 2026, the largest Keurig Dr Pepper (KDP) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($5.6 billion), BlackRock ($4.7 billion), Vanguard Capital Management LLC ($2.8 billion), State Street Corp ($2.1 billion), Vanguard Portfolio Management LLC ($2.1 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was KDP's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Keurig Dr Pepper (KDP) reported revenue of $16.6 billion (up 8.2% from FY2024) and net income of $2.1 billion. Diluted EPS was $1.53. The figures come from the XBRL data in the 10-K.
What are the main risks in KDP's latest 10-K?
In the 10-K filed February 24, 2026, Keurig Dr Pepper (KDP) flagged: JDE Peet's acquisition (announced Aug 24, 2025) adds Russia exposure: 6% of JDE Peet's consolidated revenue, subject to Ukraine-conflict sanctions risk. Significant debt load post-JDE Peet's close plus Convertible Preferred Stock at 4.75% dividend rate risks credit rating downgrade from Moody's/S&P. (AI summary of the Risk Factors section.)
What did KDP report in its latest 8-K?
Keurig Dr Pepper (KDP) filed an 8-K on October 1, 2026 reporting Item 8.01 (Other Events). Russ Torres appointed Coffee Operating Unit CEO effective November 3, 2026.
What are the latest KDP SEC filings?
Keurig Dr Pepper (KDP) filed its latest 10-K annual report on February 24, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on October 1, 2026 and a Form 4 insider filing on September 18, 2026.
What is KDP's SEC CIK number?
Keurig Dr Pepper (KDP)'s SEC Central Index Key (CIK) is 1418135. EDGAR lists every KDP filing under that number.
Ask anything about KDP
The research agent reads KDP's filings, financials, insider trades and 13F holders, then answers with sources.