Latest news with #KeurigDrPepper
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3 days ago
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The CEO giving Keurig Dr Pepper a massive energy jolt
It's a cloudy afternoon in late March in Burlington, Mass., the Boston suburb that's the site of co-headquarters for Keurig Dr Pepper. CEO Tim Cofer—who's just dropped off his suitcase after arriving from KDP's second home base in Frisco, Texas, near Dallas—is guiding Fortune through the glass-framed modern office building which contains a warren of showrooms. One displays all 16 flavors of Dr Pepper, another shows a panoply of new energy drinks; walking down the hall we visit a gallery arraying dozens of Keurig models, from the K-Mini for dorm rooms to a business-size brewer at over $1,000. Between extolling the products in each room, the super-salesman describes the promise of this world of liquids, where he's never worked before, and his mission for KDP. Cofer is instilling the élan of a scrappy underdog in this old-line corporation of 29,000 employees. 'We're hungry, we like to disrupt; this is a challenger culture where we play offense, not defense,' he explains, while standing before a neon-rainbow rack of cans. 'There's a real sweet spot where a company's large enough to bring the scale in investment and distribution to win in a big way, but keeps the mindset of being nimble, aggressive, and continually dissatisfied with the status quo,' he says. It's what motivated Cofer to woo the 38-year-old entrepreneur who founded the popular energy drink Ghost, and in October strike a $1.65 billion deal to acquire the brand. The caffeine-like high of the Ghost tie-up exemplifies the jolt Cofer's delivering to make KDP an increasingly formidable challenger to the long-ruling kings of beverage, Coca-Cola and PepsiCo. Since joining KDP first as COO in November of 2023, then as CEO in April of last year, Cofer's been adding fast-growing, high-margin new offerings, from energy and sports hydration drinks to refreshers to ready-to-quaff iced coffees, while simultaneously supercharging the 140-year old flagship Dr Pepper as a top pick for the Instagram generation. Thanks largely to snazzy marketing that's enticed the quicksilver Gen Y and Gen Z demographic, classic Dr Pepper has raced from a distant third just a few years back to surpass regular Pepsi as the second-bestselling soft drink in North America behind Coke. In fact, KDP itself—like its signature non-cola—is a one-of-a-kind concoction, the product of a highly experimental blending of businesses. It's the sole big marketer to combine huge franchises in both hot and cold beverages. That union happened in mid-2018 via the $18.7 billion merger of Dr Pepper Snapple and coffee maker Keurig Green Mountain, making KDP by far the most diversified enterprise in nonalcoholic or 'refreshment' beverages with over 125 brands where it's an owner, investor, or distributor. The mating proved a giant success during the pandemic. As the crisis began, then-CEO Bob Gamgort, now KDP's chairman, brilliantly exploited data flowing from home coffee makers wired to data centers, deploying AI to foresee a spike in demand for coffee and bedrock soft drink brands in the sudden switch to the stay-at-home economy. Gamgort ramped up production of Dr Pepper, Canada Dry, and K-Cups, and secured big shipments of cans from Mexico well before rivals saw the wave building. But since 2022, KDP's coffee sales have flattened, pressured by a sharp rise in the cost of the raw beans that raised the price of K-Cup pods and pushed folks toward instant brands and making their own. 'Now, their crown jewel is beverage, and their problem child is coffee,' notes Connor Rattigan, an analyst at global data provider Consumer Edge. To lift KDP to Coke-and Pepsi-level profitability, Cofer needs to perform the tough, dual task of making high-margin hits on the supercompetitive soft drink side, while reheating coffee. He's got big plans for both. Though little-known for such an important CEO, Cofer spent a long pre-KDP career hopping the globe while recharging and merging many of the most celebrated brands in consumer packaged goods. The C-suite prized Cofer's knack for engineering quick turnarounds, and cycled him through jobs relatively quickly. He would typically put sales on the fast track, then get the call to move on. Cofer grew up in White Bear Lake, Minn., on the outskirts of Minneapolis/St. Paul, that's renowned as a summer resort for angling largemouth bass, and whose namesake Mark Twain described as 'lovely sheet of water.' His father started as a line foreman at a 3M ceramics plant, and rose to become a marketing SVP for overhead projectors. The romance of big business captured Tim around age 7, when he'd join his dad on Saturdays for a drive to 3M's headquarters in St. Paul. 'It instilled upon me the importance of work ethic, because my father would be the only one there. I loved walking around staring at the big desks and big offices. I became fascinated by the prototypes for the newest 3M Thermo-Fax copying machines, and would copy their design in pencil,' he recalls. On the trip home, he'd quiz his father about 3M's organizational structure and workings of its chain of command. As a student at St. Olaf College near home, Cofer got his first job as the 'arms and legs' of a local research agency. He'd visit grocery stores, clipboard in hand, count the 'facings' of Honey Nut Cheerios, Lucky Charms, and other General Mills cereals on the shelves, and record the posted prices, at $2.85 an hour. 'I soon figured out that I didn't want to be recording the data, I wanted to be on the other side, using the data to build a brand,' he recalls. In 1992, he finished his MBA as valedictorian from the University of Minnesota's Carlson School of Management, majoring in marketing, and took a job in Minneapolis at Kraft Foods' cold-cuts purveyor Oscar Mayer. 'I was assistant brand manager for deli meats, maybe not the sexiest of jobs,' he avows. 'But I was brand passionate, and it was great foundational learning.' In 2003, Cofer got his first break when Kraft handed him his introductory general manager role, and control of his own P&L, as chief of the European chocolate franchise that marketed such feted brands as Milka and Toblerone. Cofer relocated to London and set about instituting a dramatic restructuring mandated by headquarters: shifting authority from country managers who previously exercised full control of their businesses to the 'regional' level led by Cofer, who took the new position as European VP of chocolate. 'This disempowered the country chiefs,' says Ingeborg Gasser-Kriss, Cofer's innovation chief for Europe. 'A newly formed region category team was not something the country heads wanted.' To win Gasser-Kriss's confidence, Cofer took her on a long walk, for a heart-to-heart talk, on Vienna's famed Ringstrasse encircling the city's historical center, rich in baroque architecture. That was followed by a tour visiting all two dozen country leaders, says Gasser-Kriss. 'Tim presented business plans to all of the country teams, and we had dinner with them. He told them, 'Look, I want us all to agree that if something doesn't touch the region as a whole, you'll have all the freedom you need. But if a decision has to be made at the region category, it goes with the region.' In 2010, Kraft CEO Irene Rosenfeld, Cofer's mentor, engineered the purchase of British chocolate-maker Cadbury for $19.6 billion in one of the largest food industry transactions ever. She immediately sent Cofer—whom she'd recalled from London in 2007 to first head Oscar Mayer then the Kraft pizza business—to Zurich, to oversee the integration of Kraft and Cadbury chocolate franchises worldwide. The Cadbury deal started as a hostile takeover. 'Cadbury was an icon of Britishness from the 1800s,' says Cofer. 'They fought the takeover in the business community and the court of public opinion.' Adds Gasser-Kriss, 'Cadbury's proud team called us 'the American plastic cheese company,' that's how much they liked us at the start.' Rosenfeld had promised big synergies between the two companies to justify the deal's high price. 'Tim had to navigate through rough waters, a lot of people were nervous,' says Rosenfeld. 'He had to tell people on both sides they didn't have jobs in the organization.' Once again, it was Cofer's expertise in tough-minded diplomacy that won the day. Essential to his success was an unlikely partnership he forged with the figure heading chocolate at Cadbury, Bharat Puri. 'Two more different people you couldn't imagine,' recalls Gasser-Kriss. 'Bharat was the life of the party, had a great sense of humor, and loved jokes. Tim was a brain person. On the continuum from sincerity to fun he was much on the sincerity side. One time he showed up at an all-day meeting unshaven, without a jacket and tie, and everybody applauded. Bharat told him, 'You need to relax!'' Gasser-Kriss greatly admired how Cofer put his deep analytical abilities to work when questioning herself and other lieutenants on their project proposals that needed his approval, sans intimidation. 'He would always put his finger on the weak spot,' and that made us better, she remembers. 'He was like a precision drone in spotting things that could go wrong.' This embedded content is not available in your region. Puri recalls that despite their odd-couple chasm in personality, he and Cofer joined hands on the right strategy for merging the best of both Kraft and Cadbury to create the powerhouse in chocolate that's thriving to this day under Mondelez. Puri, who's now managing director of Indian consumer and specialty chemicals outfit Pidilite, told Fortune that, at the start of their partnership, Cofer 'was too much head and not enough heart. He would tend to be formal and shy.' Gasser-Kriss credits the gregarious Puri with helping Cofer develop a bigger public persona. 'They learned new sets of behaviors from each other,' she says. 'It wasn't that Tim was introverted, but he developed an engaging, compelling manner in the town hall mode, and may owe that to Bharat's example.' For Gasser-Kriss, Cofer showed all and sundry his affection for his brands by naming his beloved Maltese Shih Tzu Toblerone. A stint in Asia troubleshooting Mondelez's business (and overseeing the wildly successful launch of Oreo Thins) and a return to the U.S. in 2017 as head of North America under Rosenfeld, then CEO at Mondelez, had Cofer set up as the leading internal candidate to succeed her. Instead, the board awarded the prize to Belgian executive Dirk Van de Put, who'd headed McCain Foods of Canada, the world's largest producer of frozen french fries and potato specialties. 'While I was disappointed, it turned out to be a learning experience working with Dirk,' he says. Inside Mondelez, Cofer created a venture capital group called SnackFutures that proved a forerunner to the stance he's taking at KDP. The new group backed quirky entrepreneurs to commercialize such innovations as vegan chocolates and plant-based cookies, and made Mondelez a preferred partner for young, hot brands on the rise, presaging Cofer's purchase of Ghost. To measure what tastes would sell, Cofer insisted on junking the old system that relied on questionnaires and focus groups. Instead, he deployed pop-up stands at schools and farmers' markets to conduct on-the-spot taste tests for moms dropping off their kids and health-conscious shoppers cruising the fruit and veggie booths. Most of all, Cofer claims that he benefited richly by watching the divergent styles of Rosenfeld and Van de Put. 'From them, I learned the importance of situational leadership,' he relates. 'With Dirk, it was the high-level attention to detail. Irene was a master of playing the strategic chessboard, who engineered the Cadbury acquisition, which paved the way for the split from Kraft. I was able to study both styles, and choose times when it's better to bring a high level of intensity, or to step back and examine the big strategic picture.' Away from the office, Cofer's a big tennis and skiing fan. In both sports, it's been both a family and a worldwide affair. Tim's two sons, now in their twenties, were captains of their high school tennis teams, and his wife, Jodi, is also an avid player. Cofer's approach on the court will probably surprise no one. 'I play aggressive,' he says. 'I play offense, not defense. I like to rush the net,' not recklessly, he avows, but behind deep, strong approach shots. Sitting on the baseline, hitting everything back, is the antithesis of Tim's game plan for walking off the winner. The family has visited each of the four Grand Slam tournaments in New York, Melbourne, Paris, and London. They have also globe-trotted on skis, taking to the slopes in places as far-flung as Sweden, Japan, and the Czech Republic. In music, Cofer loves classic rock—rap not so much—and his hero is fellow Minnesotan Bob Dylan, whose vinyl discs entranced him as a teen in the '70s, and whom he'll fly halfway across the U.S. to catch in concert. Cofer plays the showman big-time on his video series, Taste Test With Tim, posted on the KDP website. On the episodes running around eight minutes each, he and a guest—either an insider, usually a marketing or an R&D exec, or a KDP beverage partner—sample a new offering. On the shows, Cofer rhapsodizes like a coffee and soft drink sommelier, praising 'the toasted coconut notes and creamy notes' of Dr Pepper Creamy Coconut, or the 'clean, smooth finish' and 'caramel notes' found in a blend of Green Mountain Coffee. Cofer finished one entry by joyously recapping the KDP advertising mantra, 'Brew the Love,' exhorting, 'We're brewin' the love, baby!' In 1885—one year before the birth of Coca-Cola—a pharmacy operator in Waco, Texas, famously mixed 23 syrups from his adjoining soda fountain in an experiment to re-create the drugstore's aroma. The tangy blend was Dr Pepper. For many decades, the brand was chiefly a regional favorite in the Southwest. But in 1963, a pivotal legal decision declaring that Dr Pepper isn't a cola helped take it nationwide. That landmark ruling enabled Dr Pepper to win deals where the network of Coke 'Red' and Pepsi 'Blue' regional bottlers produced and distributed the brand in sundry markets. Over the years, Dr Pepper established its own 'Maroon' system of bottlers and distributors that now cover 80% of the U.S. But Dr Pepper is still blended and shipped by Coke and Pepsi franchises in many parts of the nation. A major advantage from KDP's continuing cooperation with the two behemoths: Dr Pepper is served in restaurants and fast-food outlets where either Coke or Pepsi are the exclusive offerings. McDonald's is Coke-only for cola, and Taco Bell is Pepsi only; diners can push the dark red Dr Pepper button at both. KDP's nameplate prospers greatly from its role as the leading sponsor of college football. This will be the seventh season it's been airing ads conjuring a fantasy suburb dubbed 'Fansville' whose twin obsessions are the college gridiron and Dr Pepper. Babies emerge from the womb wearing football jerseys and sports caps. Parents bawl out their kids for hiding soccer magazines under their mattresses. Retired football star turned actor Brian Bosworth plays a sheriff chugging Dr Pepper from a quart bottle. Cofer's so all in on 'Fansville' that in December he appeared on one of his Taste Test With Tim episodes shown on YouTube at the SEC championships festooned in a Dr Pepper–labeled football jersey, declaring, 'What's more classic than home-gating and tailgating!' The trend toward ever zanier mixtures entered a new dimension with an explosion in 'dirty soda.' Such beverages gained major traction in the Mormon community, where folks who are barred by their religion from drinking alcohol or hot drinks except herbal tea took to social media announcing that they were having great fun slurping these custom bubblies at drive-in chains Swig and Sonic. In the Hulu reality series The Secret Lives of Mormon Wives, which aired last year, the players lauded dirty soda forays as 'my Mormon crack' and 'kind of our vice.' A big hit at Swig: 'Naughty & Nice,' a swirling mix of Dr Pepper, English toffee syrup, and half-and-half. By 2023, videos of youngsters touting their outlandish dirty soda recipes abounded on TikTok and Instagram. And a top choice as a canvas for this explosion in wild culinary self-expression was Dr Pepper. First to pounce was KDP. 'We realized we were in a zeitgeist moment that offered a rare opportunity to capitalize on a new cultural idea,' says Cofer. The first step came in early 2024 when marketing people at KDP huddled with the folks at Nestlé promoting its nondairy creamer Coffee Mate. Together, they crafted the first mainstream product merging the worlds of coffee creamer and soda, a pairing that was all the rage across social media. Their brainchild was Dirty Soda Coconut Lime Flavor Liquid Creamer, featuring the Dr Pepper logo on the bottle headlined by 'Mix with.' 'I approved the idea right away,' says Cofer. In May 2024, KDP introduced the first mass-market dirty soft drink in a can, Dr Pepper Creamy Coconut, which proved to be KDP's most successful limited-time offering ever. On Feb. 5, KDP followed up by launching another new flavor, this one a perennial named Dr Pepper Blackberry, which, according to analyst Rattigan, is contributing to Dr Pepper's recent gains on Pepsi and Coke. But despite the surge, KDP's profitability lags well behind that of Coke and Pepsi. Accounting expert Jack Ciesielski uses a yardstick called Cash Operating Return on Assets to assess how well companies are deploying all the capital awarded them by shareholders, excluding the effects of taxes and leverage. Last year, Coke and Pepsi registered COROA of 11.5% and 13.1%, respectively. For KDP, the figure was a relatively undistinguished 5.3%. Still, that shortfall is an opportunity. Cofer points out that total refreshment drink volume nationwide grows around 1% annually, tracking population. The key to putting the fizz in earnings: achieving a richer mix—selling a higher portion of offerings that generate extra dollars per can and bottle. Hence, he's counting on the big move into the premium territory of energy, sports hydration, ready-to-drink coffee, and refreshers to lift margins, while deploying gridiron marketing and catchy new flavors in KDP's classic brands to grab share from rivals. And finally, he's betting that the launch of K-Rounds will invigorate the lagging coffee business. Unlike the K-Cups that encase the pre-brewed coffee in plastic capsules, K-Rounds are super-densely-packed mounds of ground beans that don't have packaging; they come in a plant-based coating. Folks will pop the K-Rounds into a new Keurig coffee maker called the Alta. 'Remember, Keurigs today are in 45 million homes. We're the preeminent system, but we're willing to reprogram ourselves to provide this totally new product,' Cofer intones. 'What's really exciting is that we're willing to disrupt ourselves.' For decades, Tim Cofer worked for established giants of consumer packaged goods. But as a leader he's proving himself to be the un-cola of CEOs—and the giants had better take note. This story was originally featured on
Yahoo
5 days ago
- Business
- Yahoo
An Intrinsic Calculation For Keurig Dr Pepper Inc. (NASDAQ:KDP) Suggests It's 50% Undervalued
Using the 2 Stage Free Cash Flow to Equity, Keurig Dr Pepper fair value estimate is US$67.07 Current share price of US$33.67 suggests Keurig Dr Pepper is potentially 50% undervalued Our fair value estimate is 74% higher than Keurig Dr Pepper's analyst price target of US$38.62 How far off is Keurig Dr Pepper Inc. (NASDAQ:KDP) from its intrinsic value? Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to today's value. One way to achieve this is by employing the Discounted Cash Flow (DCF) model. Before you think you won't be able to understand it, just read on! It's actually much less complex than you'd imagine. Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. For those who are keen learners of equity analysis, the Simply Wall St analysis model here may be something of interest to you. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF ($, Millions) US$2.27b US$2.80b US$3.14b US$3.41b US$3.55b US$3.68b US$3.80b US$3.92b US$4.05b US$4.17b Growth Rate Estimate Source Analyst x5 Analyst x5 Analyst x3 Analyst x1 Analyst x1 Est @ 3.55% Est @ 3.37% Est @ 3.24% Est @ 3.15% Est @ 3.09% Present Value ($, Millions) Discounted @ 6.4% US$2.1k US$2.5k US$2.6k US$2.7k US$2.6k US$2.5k US$2.5k US$2.4k US$2.3k US$2.2k ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$24b The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. For a number of reasons a very conservative growth rate is used that cannot exceed that of a country's GDP growth. In this case we have used the 5-year average of the 10-year government bond yield (2.9%) to estimate future growth. In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 6.4%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = US$4.2b× (1 + 2.9%) ÷ (6.4%– 2.9%) = US$124b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$124b÷ ( 1 + 6.4%)10= US$67b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$91b. The last step is to then divide the equity value by the number of shares outstanding. Relative to the current share price of US$33.7, the company appears quite good value at a 50% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula - garbage in, garbage out. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at Keurig Dr Pepper as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.4%, which is based on a levered beta of 0.800. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. See our latest analysis for Keurig Dr Pepper Strength Debt is well covered by earnings. Dividends are covered by earnings and cash flows. Weakness Earnings declined over the past year. Dividend is low compared to the top 25% of dividend payers in the Beverage market. Opportunity Annual earnings are forecast to grow for the next 3 years. Trading below our estimate of fair value by more than 20%. Threat Debt is not well covered by operating cash flow. Annual earnings are forecast to grow slower than the American market. Although the valuation of a company is important, it shouldn't be the only metric you look at when researching a company. DCF models are not the be-all and end-all of investment valuation. Rather it should be seen as a guide to "what assumptions need to be true for this stock to be under/overvalued?" For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. What is the reason for the share price sitting below the intrinsic value? For Keurig Dr Pepper, there are three important aspects you should further research: Risks: For example, we've discovered 3 warning signs for Keurig Dr Pepper (1 is a bit unpleasant!) that you should be aware of before investing here. Future Earnings: How does KDP's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! PS. Simply Wall St updates its DCF calculation for every American stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
22-05-2025
- Business
- Yahoo
TEAMSTERS WIN STRIKE AT KEURIG DR PEPPER
Company Caves, Victorville Workers Ratify Strong Contract After Two-Week Strike VICTORVILLE, Calif., May 22, 2025 /PRNewswire/ -- More than 250 Teamsters at Keurig Dr Pepper (KDP) in Victorville have won a strong contract after a two-week unfair labor practice (ULP) strike. Backed by over 700 Teamsters at KDP facilities across California, workers forced the company to deliver critical improvements on the job, including access to the Western Conference of Teamsters Pension Trust and significant wage increases. "Teamsters at Keurig Dr Pepper were ready to hold the line for as long as it took," said Chris Griswold, President of Teamsters Joint Council 42 and Teamsters International Vice President At-Large. "We made Keurig Dr Pepper pay for violating our members' rights and trying to strip away their hard-earned sick time. Teamsters will never allow companies to break the law or disrespect us." "The support we received across Southern California was incredible," said Phil Cooper, Secretary-Treasurer of Teamsters 896. "Our Teamster brothers and sisters at all six facilities stood up without hesitation and honored our picket line." The strike began after workers rejected the company's initial contract offer, which failed to meet their demands for better wages and benefits. The drivers, warehouse workers, production workers, and merchandisers extended picket lines to over 700 KDP Teamsters across California, stopping deliveries at five additional KDP facilities. This is the second strike the Teamsters have won at KDP in just over a month, following a 12-day ULP strike by Teamsters Local 238 in Ottumwa, Iowa. "KDP Teamsters are showing the whole industry what happens when you mess with union members," said Jeff Padellaro, Director of the Teamsters Brewery, Bakery, and Soft Drink Conference. "Let this be a lesson to every other company out there: respect our members, follow the law, or prepare to face the consequences." Founded in 1903, the International Brotherhood of Teamsters represents over 1.3 million hardworking people in the U.S., Canada, and Puerto Rico. Visit for more information. Follow us on X @Teamsters and on Facebook at Contact:Matt McQuaid, (771) 241-0015 mmcquaid@ View original content to download multimedia: SOURCE International Brotherhood of Teamsters Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
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Remodeled estate lists for $90 million on the Intracoastal Waterway in Palm Beach
Coffee tycoon Robert 'Bob' Stiller and his wife, Christine, are asking $90 million for their extensively renovated lakefront house in Palm Beach, according to a new sales listing. A limited liability company linked to the Stillers paid a recorded $66 million for the estate at 1350 N. Lake Way in 2023. The couple then carried out a major remodeling project, building records show. The seller in the 2023 deal was a company controlled by casino-and-resort mogul Steve Wynn. The new listing is the most expensive Palm Beach property being marketed in the Palm Beach Board of Realtors Multiple Listing service. Built in 2013, the seven-bedroom house faces about 150 feet of lake frontage and has a deep-water dock, the new listing says. The lot measures eight-tenths of an acre and is nine streets south of the inlet at the north tip of the island. In all, the house has about 17,000 square feet of living space, inside and out, according to the sales listing. Broker Christian Angle of Christian Angle Real Estate holds the listing. He declined to discuss the property, and the Stillers could not immediately be reached for comment. Robert Stiller co-founded and is the former CEO of the Keurig Green Mountain coffee empire. The company today is known as Keurig Dr Pepper Inc. The Stillers' ownership company — 1350 North Lake Acquisitions LLC — bought the two-story, Bermuda-style house in April 2023 after Wynn and his wife, Andrea Hissom Wynn, had remodeled it for resale. A Wynn-controlled company had paid $49 million for it in April 2021 as an investment property. Angle's sales listing went active May 13 and describes the 'pristine' estate as a 'rarely available' property on the Intracoastal Waterway. 'This rare and luxurious home boasts breathtaking lake and sunset views from all principal rooms,' the listing says. Among the home's features are stone and hardwood flooring, high ceilings and rooms filled with natural light, the listing says. The layout features two primary bedroom suites — one on the first floor and one on the upper level. The formal living room has a fireplace and French doors opening to a covered loggia, one of two that overlook the lakeside pool. The listing also mentions a library, a formal dining room with a butler's panty and a family room open to the breakfast area and kitchen. There's also a fully equipped 'professional chef's kitchen.' Wittmann Building Corp. of West Palm Beach was the contractor for the Stillers' renovations, according to courthouse records. Contractor Paul Wittmann declined to comment. The Stillers' company bought the house shortly after the couple sold their oceanfront mansion at 589 N. County Road for around $170 million — a deal that still holds the record as the most-expensive residential property ever sold in Palm Beach, the Palm Beach Daily News has confirmed. In the sale on North County Road, Angle represented the buyers, car car-dealership magnate Michael Cantanucci and his wife, Kimberly, while broker Lawrence Moens of Lawrence A. Moens Associates acted for the sellers. Moens handled both sides of the 2023 sale on North Lake Way. The house on North Lake Way was built by Palm Beach real estate developer and investor Patrick Carney and his wife, Lillian, who used it as a custom home for themselves. * To see more photos of 1350 N. Lake Way in Palm Beach, click on the photo gallery near the top of this page. This is a developing story. Check back for updates. Darrell Hofheinz is a USA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly 'Beyond the Hedges' column. He welcomes tips about real estate news on the island. Email dhofheinz@ This article originally appeared on Palm Beach Daily News: Remodeled lakefront estate lists for $90 million in Palm Beach
Yahoo
13-05-2025
- Business
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3 Stocks Under $50 in Hot Water
The $10-50 price range often includes mid-sized businesses with proven track records and plenty of growth runway ahead. They also usually carry less risk than penny stocks, though they're not immune to volatility as many lack the scale advantages of their larger peers. Luckily for you, our mission at StockStory is to help you make money and avoid losses by sorting the winners from the losers. Keeping that in mind, here are three stocks under $50 to avoid and some other investments you should consider instead. Share Price: $33.50 Born out of a 2018 merger between Keurig Green Mountain and Dr Pepper Snapple, Keurig Dr Pepper (NASDAQ:KDP) is a consumer staples powerhouse boasting a portfolio of beverages including sodas, coffees, and juices. Why Are We Hesitant About KDP? Sizable revenue base leads to growth challenges as its 6.5% annual revenue increases over the last three years fell short of other consumer staples companies Day-to-day expenses have swelled relative to revenue over the last year as its operating margin fell by 5.7 percentage points Underwhelming 5.7% return on capital reflects management's difficulties in finding profitable growth opportunities At $33.50 per share, Keurig Dr Pepper trades at 16.2x forward P/E. Dive into our free research report to see why there are better opportunities than KDP. Share Price: $21.13 Resideo Technologies, Inc. (NYSE: REZI) is a manufacturer and distributor of technology-driven products and solutions for home comfort, energy management, water management, and safety and security. Why Are We Cautious About REZI? Annual revenue growth of 4.8% over the last two years was below our standards for the industrials sector Performance over the past two years shows its incremental sales were less profitable, as its 3.1% annual earnings per share growth trailed its revenue gains Shrinking returns on capital suggest that increasing competition is eating into the company's profitability Resideo's stock price of $21.13 implies a valuation ratio of 5.2x forward EV-to-EBITDA. Check out our free in-depth research report to learn more about why REZI doesn't pass our bar. Share Price: $36.63 A spin-off of a spin-off, Vontier (NYSE:VNT) provides electronic products and systems to the transportation, automotive, and manufacturing sectors. Why Is VNT Risky? Absence of organic revenue growth over the past two years suggests it may have to lean into acquisitions to drive its expansion Free cash flow margin dropped by 14.8 percentage points over the last five years, implying the company became more capital intensive as competition picked up Diminishing returns on capital suggest its earlier profit pools are drying up Vontier is trading at $36.63 per share, or 11.6x forward P/E. To fully understand why you should be careful with VNT, check out our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free.
