BlackRock Inc. increased its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 10.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,607,887 shares of the company’s stock after purchasing an additional 3,167,455 shares during the quarter. BlackRock Inc. owned 2.37% of Keurig Dr Pepper worth $1,148,049,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ossiam lifted its stake in Keurig Dr Pepper by 18.6% during the second quarter. Ossiam now owns 211,304 shares of the company’s stock worth $7,440,000 after purchasing an additional 33,190 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG increased its position in Keurig Dr Pepper by 332.2% in the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 38,359 shares of the company’s stock worth $1,353,000 after buying an additional 29,483 shares during the period. Monashee Investment Management LLC acquired a new stake in Keurig Dr Pepper in the second quarter worth $5,286,000. Charles Schwab Investment Management Inc. increased its position in Keurig Dr Pepper by 4.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,538,732 shares of the company’s stock worth $54,225,000 after buying an additional 64,451 shares during the period. Finally, Stoneridge Investment Partners LLC increased its position in Keurig Dr Pepper by 41.2% in the third quarter. Stoneridge Investment Partners LLC now owns 47,763 shares of the company’s stock worth $1,632,000 after buying an additional 13,925 shares during the period. Hedge funds and other institutional investors own 52.77% of the company’s stock.
NASDAQ:KDP opened at $39.28 on Friday. The business’s 50-day moving average price is $35.91 and its 200 day moving average price is $35.31. The firm has a market cap of $55.70 billion, a P/E ratio of 32.46, a PEG ratio of 2.72 and a beta of 0.71. Keurig Dr Pepper Inc. has a 52-week low of $30.28 and a 52-week high of $39.35. The company has a quick ratio of 0.27, a current ratio of 0.41 and a debt-to-equity ratio of 0.48.
Keurig Dr Pepper declared that its board has authorized a share buyback plan on Friday, October 1st that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 20th. Investors of record on Thursday, January 6th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Wednesday, January 5th. Keurig Dr Pepper’s payout ratio is currently 61.98%.
In related news, Director Robert S. Singer sold 5,000 shares of the stock in a transaction on Monday, November 8th. The stock was sold at an average price of $36.40, for a total value of $182,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Herbert Derek Hopkins sold 68,347 shares of the stock in a transaction on Wednesday, December 22nd. The shares were sold at an average price of $35.56, for a total value of $2,430,419.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,347 shares of company stock worth $2,971,569. 1.00% of the stock is owned by corporate insiders.
KDP has been the topic of several analyst reports. Zacks Investment Research raised Keurig Dr Pepper from a “sell” rating to a “hold” rating and set a $38.00 target price on the stock in a research report on Friday, November 12th. Royal Bank of Canada increased their target price on Keurig Dr Pepper from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Deutsche Bank Aktiengesellschaft increased their target price on Keurig Dr Pepper from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, September 20th. Finally, Barclays raised their price target on Keurig Dr Pepper from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, November 1st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Keurig Dr Pepper has a consensus rating of “Buy” and a consensus price target of $38.44.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper, Inc engages in the production and marketing of non-alcoholic beverages. It operates through the following segments: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. The Coffee Systems segment includes manufacture and distribution of finished goods relating to coffee, pods, and brewers.
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