The Swiss National Bank boosted its Keurig Dr Pepper stake to 3.9 million shares, worth $129 million, as the company met earnings expectations and reported strong revenue growth.

The Swiss National Bank increased its stake in Keurig Dr Pepper by 464,700 shares, now holding 3.9 million shares valued at $129 million. The company reported strong second-quarter earnings of $0.54 per share, meeting expectations, with revenue rising 10.7% year-over-year to $4.31 billion. Keurig Dr Pepper, with a market cap of $37.69 billion, pays a 3.3% dividend and has a consensus "Hold" rating with a $35.27 target price. The stock trades around $27.74, supported by a 50-day moving average of $26.74 and a 200-day average of $30.65. DNB Asset Management reduced its stake by 8.6%, while Segall Bryant & Hamill LLC bought $11.52 million in shares. The company operates through three global segments and maintains a conservative balance sheet.