D. E. Shaw & Co. Inc. grew its holdings in Keurig Dr Pepper Inc (NYSE:KDP) by 177.6% during the second quarter, Holdings Channel.com reports. The firm owned 9,578,432 shares of the company’s stock after acquiring an additional 6,128,458 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Keurig Dr Pepper were worth $276,816,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. MRA Associates USA LLC acquired a new stake in shares of Keurig Dr Pepper in the second quarter valued at approximately $25,000. Pearl River Capital LLC acquired a new stake in shares of Keurig Dr Pepper in the second quarter valued at approximately $31,000. Penserra Capital Management LLC acquired a new stake in shares of Keurig Dr Pepper in the first quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Keurig Dr Pepper in the second quarter valued at approximately $42,000. Finally, Trustcore Financial Services LLC raised its holdings in shares of Keurig Dr Pepper by 270.9% in the second quarter. Trustcore Financial Services LLC now owns 1,836 shares of the company’s stock valued at $53,000 after purchasing an additional 1,341 shares during the last quarter. Institutional investors own 19.53% of the company’s stock.
KDP traded down $0.29 during trading on Friday, reaching $27.32. 2,785,831 shares of the stock were exchanged, compared to its average volume of 2,297,241. The stock has a market cap of $39.32 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 1.49 and a beta of 0.45. Keurig Dr Pepper Inc has a twelve month low of $22.19 and a twelve month high of $31.06. The stock’s 50 day moving average price is $27.62 and its two-hundred day moving average price is $28.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.23 and a current ratio of 0.33.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 4th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 2.20%. Keurig Dr Pepper’s dividend payout ratio (DPR) is 57.69%.
In related news, Director Robert S. Singer acquired 3,000 shares of Keurig Dr Pepper stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $28.65 per share, with a total value of $85,950.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Andrew Loucks acquired 18,554 shares of Keurig Dr Pepper stock in a transaction on Wednesday, August 14th. The shares were bought at an average cost of $28.31 per share, with a total value of $525,263.74. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 62,727 shares of company stock valued at $1,447,441. Company insiders own 0.44% of the company’s stock.
A number of research firms have recently issued reports on KDP. Royal Bank of Canada set a $31.00 price objective on shares of Keurig Dr Pepper and gave the company a “buy” rating in a report on Friday, August 9th. Bank of America lifted their price objective on shares of Keurig Dr Pepper from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, August 9th. Credit Suisse Group assumed coverage on shares of Keurig Dr Pepper in a report on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 price objective on the stock. BMO Capital Markets upgraded shares of Keurig Dr Pepper from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $27.00 to $34.00 in a report on Monday, June 17th. Finally, ValuEngine downgraded shares of Keurig Dr Pepper from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Keurig Dr Pepper has a consensus rating of “Buy” and an average target price of $30.27.
About Keurig Dr Pepper
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.
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