JPMorgan Chase & Co. Increases Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

JPMorgan Chase & Co. raised its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 32.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,685,837 shares of the company’s stock after buying an additional 4,562,128 shares during the period. JPMorgan Chase & Co. owned approximately 1.38% of Keurig Dr Pepper worth $600,189,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Keurig Dr Pepper by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company’s stock valued at $100,796,000 after acquiring an additional 242,315 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Keurig Dr Pepper by 53.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company’s stock worth $10,400,000 after purchasing an additional 112,819 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Keurig Dr Pepper by 7.1% in the 3rd quarter. Franklin Resources Inc. now owns 622,252 shares of the company’s stock valued at $22,806,000 after purchasing an additional 41,466 shares in the last quarter. Swedbank AB lifted its position in shares of Keurig Dr Pepper by 1.8% during the fourth quarter. Swedbank AB now owns 747,002 shares of the company’s stock worth $23,994,000 after purchasing an additional 13,179 shares during the last quarter. Finally, RWC Asset Management LLP lifted its position in shares of Keurig Dr Pepper by 34.6% during the fourth quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company’s stock worth $49,885,000 after purchasing an additional 398,916 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KDP. UBS Group restated a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. JPMorgan Chase & Co. upped their price target on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Barclays set a $39.00 target price on shares of Keurig Dr Pepper in a report on Thursday, February 27th. Finally, Morgan Stanley lifted their price target on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.23.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $33.39, for a total value of $400,680.00. Following the completion of the sale, the insider now directly owns 178,511 shares in the company, valued at $5,960,482.29. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of Keurig Dr Pepper stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $32.65, for a total value of $2,740,967,500.00. Following the transaction, the insider now owns 134,113,479 shares in the company, valued at approximately $4,378,805,089.35. This trade represents a 38.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,397,350 shares of company stock worth $2,756,292,570 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $33.74 on Friday. The firm’s 50 day moving average is $32.72 and its two-hundred day moving average is $33.57. The firm has a market capitalization of $45.78 billion, a P/E ratio of 20.45, a PEG ratio of 2.42 and a beta of 0.62. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a 52 week low of $30.12 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP) last posted its earnings results on Tuesday, February 25th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the firm earned $0.55 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s payout ratio is currently 87.62%.

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.