Wilmington Savings Fund Society FSB increased its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 441.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,948 shares of the company's stock after acquiring an additional 77,414 shares during the period. Wilmington Savings Fund Society FSB's holdings in Keurig Dr Pepper were worth $3,559,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. FMR LLC lifted its holdings in Keurig Dr Pepper by 9.8% in the 3rd quarter. FMR LLC now owns 102,183,144 shares of the company's stock valued at $3,829,824,000 after acquiring an additional 9,105,164 shares during the last quarter. State Street Corp grew its position in Keurig Dr Pepper by 10.9% in the third quarter. State Street Corp now owns 50,609,224 shares of the company's stock worth $1,908,289,000 after buying an additional 4,970,467 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company's stock valued at $91,908,000 after buying an additional 1,956,138 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Keurig Dr Pepper by 41.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company's stock worth $212,901,000 after acquiring an additional 1,878,597 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Keurig Dr Pepper in the 2nd quarter worth $37,643,000. Institutional investors and hedge funds own 93.99% of the company's stock.
A number of equities analysts recently weighed in on the company. TD Cowen lifted their price target on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a "hold" rating in a research note on Thursday, September 26th. Royal Bank of Canada lifted their target price on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Evercore ISI upgraded shares of Keurig Dr Pepper to a "hold" rating in a research report on Thursday, September 5th. Jefferies Financial Group decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, October 25th. Finally, Barclays cut their target price on shares of Keurig Dr Pepper from $41.00 to $39.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.50.
View Our Latest Stock Report on KDP
Shares of Keurig Dr Pepper stock opened at $33.81 on Friday. The stock has a 50-day simple moving average of $33.94 and a 200-day simple moving average of $34.60. Keurig Dr Pepper Inc. has a 52-week low of $28.61 and a 52-week high of $38.28. The firm has a market cap of $45.86 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 2.57 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.92 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, equities research analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.92 annualized dividend and a yield of 2.72%. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 55.76%.
In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the completion of the sale, the insider now directly owns 214,443,879 shares of the company's stock, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company's stock.
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.
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