Fmr LLC Raises Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Fmr LLC boosted its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,183,144 shares of the company’s stock after purchasing an additional 9,105,164 shares during the period. Fmr LLC owned about 0.08% of Keurig Dr Pepper worth $3,829,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional increased its holdings in shares of Keurig Dr Pepper by 3.6% in the third quarter. CX Institutional now owns 8,129 shares of the company’s stock worth $305,000 after purchasing an additional 283 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Keurig Dr Pepper by 3.6% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,535 shares of the company’s stock worth $320,000 after buying an additional 300 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in Keurig Dr Pepper by 51.5% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 886 shares of the company’s stock worth $30,000 after acquiring an additional 301 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Keurig Dr Pepper by 21.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,757 shares of the company’s stock valued at $59,000 after acquiring an additional 314 shares in the last quarter. Finally, Mather Group LLC. boosted its position in shares of Keurig Dr Pepper by 29.0% during the 2nd quarter. Mather Group LLC. now owns 1,742 shares of the company’s stock valued at $53,000 after acquiring an additional 392 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on KDP shares. Wells Fargo & Company decreased their price objective on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Jefferies Financial Group lowered their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Evercore ISI raised Keurig Dr Pepper to a “hold” rating in a research note on Thursday, September 5th. Finally, 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. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Keurig Dr Pepper Price Performance

KDP opened at $32.85 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53. The stock has a market capitalization of $44.56 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.63. The stock’s 50 day moving average price is $35.11 and its 200-day moving average price is $34.71. Keurig Dr Pepper Inc. has a 52-week low of $28.61 and a 52-week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.23 dividend. This is an increase from Keurig Dr Pepper’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Friday, September 27th. Keurig Dr Pepper’s dividend payout ratio is presently 55.76%.

Insiders Place Their Bets

In other news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $32.65, for a total value of $2,252,850,000.00. Following the sale, the insider now directly owns 214,443,879 shares of the company’s stock, valued at $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 available through the SEC website. 1.00% of the stock is currently owned by company insiders.

About Keurig Dr Pepper

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.