8,228,986 Shares in Keurig Dr Pepper, Inc $KDP Acquired by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,228,986 shares of the company’s stock, valued at approximately $269,336,000. Legal & General Group Plc owned approximately 0.60% of Keurig Dr Pepper as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in KDP. Northwestern Mutual Wealth Management Co. lifted its position in Keurig Dr Pepper by 290.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,646 shares of the company’s stock worth $1,475,000 after acquiring an additional 39,156 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Keurig Dr Pepper by 47.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 179,570 shares of the company’s stock valued at $5,030,000 after purchasing an additional 57,797 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Keurig Dr Pepper by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,552,636 shares of the company’s stock worth $43,489,000 after purchasing an additional 47,184 shares during the period. Anchor Capital Advisors LLC increased its stake in shares of Keurig Dr Pepper by 13.8% in the fourth quarter. Anchor Capital Advisors LLC now owns 1,297,998 shares of the company’s stock worth $36,357,000 after purchasing an additional 157,438 shares during the period. Finally, Fidelity National Financial Inc. acquired a new position in shares of Keurig Dr Pepper during the 4th quarter worth about $15,349,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on KDP shares. Weiss Ratings restated a “hold (c)” rating on shares of Keurig Dr Pepper in a research note on Friday, August 7th. Barclays upped their price target on Keurig Dr Pepper from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Zacks Research cut Keurig Dr Pepper from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. UBS Group boosted their target price on shares of Keurig Dr Pepper from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Citigroup increased their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.94.

Keurig Dr Pepper Trading Up 1.2%

Shares of KDP stock opened at $32.21 on Thursday. Keurig Dr Pepper, Inc has a 12-month low of $24.88 and a 12-month high of $33.82. The company has a market capitalization of $43.83 billion, a P/E ratio of 32.54, a P/E/G ratio of 1.42 and a beta of 0.40. The firm has a 50-day moving average price of $31.18 and a 200 day moving average price of $29.45. The company has a quick ratio of 0.28, a current ratio of 0.48 and a debt-to-equity ratio of 0.74.

Keurig Dr Pepper (NASDAQ:KDP) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The company’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. Research analysts forecast that Keurig Dr Pepper, Inc will post 2.3 earnings per share for the current fiscal year.

Keurig Dr Pepper Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single?serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single?serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.