Hartford Investment Management Co. Purchases 3,338 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Hartford Investment Management Co. boosted its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,474 shares of the company’s stock after buying an additional 3,338 shares during the quarter. Hartford Investment Management Co.’s holdings in Keurig Dr Pepper were worth $2,232,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KDP. Cigna Investments Inc. New raised its stake in Keurig Dr Pepper by 4.0% in the 4th quarter. Cigna Investments Inc. New now owns 11,363 shares of the company’s stock valued at $365,000 after acquiring an additional 432 shares during the period. Equitable Trust Co. bought a new position in shares of Keurig Dr Pepper in the fourth quarter valued at about $344,000. Entropy Technologies LP bought a new position in shares of Keurig Dr Pepper in the fourth quarter valued at about $2,116,000. Empowered Funds LLC lifted its stake in shares of Keurig Dr Pepper by 12.2% during the 4th quarter. Empowered Funds LLC now owns 20,060 shares of the company’s stock worth $644,000 after buying an additional 2,188 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Keurig Dr Pepper by 29.9% during the 4th quarter. Apollon Wealth Management LLC now owns 24,900 shares of the company’s stock worth $800,000 after buying an additional 5,729 shares during the period. 93.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KDP. Piper Sandler began coverage on shares of Keurig Dr Pepper in a research report on Tuesday, January 7th. They set a “neutral” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on Keurig Dr Pepper from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Wells Fargo & Company lowered their price objective on Keurig Dr Pepper from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada lifted their target price on Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, TD Cowen decreased their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.50.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP opened at $31.87 on Friday. The company’s 50 day simple moving average is $31.92 and its 200 day simple moving average is $34.04. 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 Inc. has a 1 year low of $28.61 and a 1 year high of $38.28. The stock has a market capitalization of $43.23 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 2.16 and a beta of 0.61.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.89%. Keurig Dr Pepper’s dividend payout ratio (DPR) is currently 55.76%.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of $33.34 per share, with a total value of $120,677,464.00. Following the acquisition, the insider now owns 218,063,479 shares of the company’s stock, valued at $7,270,236,389.86. This trade represents a 1.69 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Keurig Dr Pepper Company Profile

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.