Corebridge Financial Inc. Raises Stake in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Corebridge Financial Inc. increased its position in Keurig Dr Pepper Inc. (NASDAQ:KDP) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 457,490 shares of the company’s stock after buying an additional 3,550 shares during the period. Corebridge Financial Inc.’s holdings in Keurig Dr Pepper were worth $14,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC acquired a new position in Keurig Dr Pepper in the 3rd quarter valued at $35,000. Whipplewood Advisors LLC purchased a new stake in shares of Keurig Dr Pepper in the fourth quarter valued at $37,000. Brooklyn Investment Group acquired a new position in Keurig Dr Pepper in the third quarter valued at $61,000. R Squared Ltd purchased a new position in Keurig Dr Pepper during the fourth quarter worth about $70,000. Finally, Cromwell Holdings LLC acquired a new stake in Keurig Dr Pepper in the 4th quarter worth about $77,000. Hedge funds and other institutional investors own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP opened at $33.83 on Wednesday. The company has a market cap of $45.90 billion, a P/E ratio of 20.50, a PEG ratio of 2.42 and a beta of 0.62. Keurig Dr Pepper Inc. has a one year low of $30.12 and a one year high of $38.28. The business’s 50-day simple moving average is $32.55 and its 200 day simple moving average is $33.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.36 and a current ratio of 0.53.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm earned $0.55 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper’s payout ratio is 87.62%.

Insider Buying and Selling

In related news, major shareholder Bevco B.V. Jab bought 3,619,600 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was bought at an average price of $33.34 per share, with a total value of $120,677,464.00. Following the transaction, the insider now owns 218,063,479 shares of the company’s stock, valued at approximately $7,270,236,389.86. This trade represents a 1.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated 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 transaction, the insider now owns 178,511 shares of the company’s stock, valued at $5,960,482.29. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,397,350 shares of company stock worth $2,756,292,570. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Barclays set a $39.00 price target on shares of Keurig Dr Pepper in a research note on Thursday, February 27th. UBS Group reissued a “buy” rating on shares of Keurig Dr Pepper in a research note on Tuesday, February 25th. TD Cowen cut their target price on 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. Finally, Piper Sandler assumed coverage on Keurig Dr Pepper in a research report on Tuesday, February 25th. They set a “neutral” rating and a $35.00 price target for the company. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Keurig Dr Pepper presently has a consensus rating of “Moderate Buy” and an average target price of $38.23.

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.