DnB Asset Management AS Raises Stock Position in Keurig Dr Pepper Inc. (NASDAQ:KDP)

DnB Asset Management AS raised its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 271,248 shares of the company’s stock after purchasing an additional 28,285 shares during the quarter. DnB Asset Management AS’s holdings in Keurig Dr Pepper were worth $8,712,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KDP. New Age Alpha Advisors LLC lifted its holdings in shares of Keurig Dr Pepper by 82.8% in the 4th quarter. New Age Alpha Advisors LLC now owns 859 shares of the company’s stock valued at $28,000 after buying an additional 389 shares during the period. LRI Investments LLC acquired a new position in Keurig Dr Pepper in the third quarter valued at approximately $35,000. Whipplewood Advisors LLC purchased a new stake in Keurig Dr Pepper in the 4th quarter worth approximately $37,000. Brooklyn Investment Group grew its stake in shares of Keurig Dr Pepper by 34.0% during the 4th quarter. Brooklyn Investment Group now owns 2,184 shares of the company’s stock worth $70,000 after purchasing an additional 554 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Keurig Dr Pepper during the 4th quarter valued at approximately $70,000. 93.99% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $33.74 on Friday. The stock has a market capitalization of $45.78 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a 52 week low of $30.12 and a 52 week high of $38.28. The firm has a 50-day simple moving average of $32.72 and a 200-day simple moving average of $33.54. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50.

Keurig Dr Pepper (NASDAQ:KDP) last released its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.01 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.55 EPS. On average, equities analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on KDP. TD Cowen dropped 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 report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Keurig Dr Pepper from a “hold” rating to a “buy” rating and raised their target price for the company from $37.00 to $39.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. upped their price target on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Piper Sandler initiated coverage on Keurig Dr Pepper in a report on Tuesday, February 25th. They issued a “neutral” rating and a $35.00 price objective on the stock. Finally, Barclays set a $39.00 target price on Keurig Dr Pepper in a research note on Thursday, February 27th. 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 MarketBeat, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average target price of $38.23.

Insider Buying and Selling at Keurig Dr Pepper

In other news, major shareholder Bevco B.V. Jab purchased 3,619,600 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the purchase, the insider now directly owns 218,063,479 shares in the company, valued at approximately $7,270,236,389.86. This represents a 1.69 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Angela A. Stephens sold 7,350 shares of Keurig Dr Pepper stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total transaction of $251,149.50. Following the sale, the vice president now directly owns 74,587 shares in the company, valued at approximately $2,548,637.79. The trade was a 8.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,397,350 shares of company stock worth $2,756,292,570 in the last three months. 1.00% of the stock is owned by corporate 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.