Keurig Dr Pepper Inc. (NASDAQ:KDP) Position Boosted by DnB Asset Management AS

DnB Asset Management AS increased its holdings in Keurig Dr Pepper Inc. (NASDAQ:KDPGet Rating) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,433 shares of the company’s stock after purchasing an additional 13,117 shares during the quarter. DnB Asset Management AS’s holdings in Keurig Dr Pepper were worth $5,253,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in shares of Keurig Dr Pepper by 1.2% in the first quarter. Capital World Investors now owns 52,691,855 shares of the company’s stock worth $1,997,021,000 after buying an additional 644,430 shares during the period. Vanguard Group Inc. lifted its position in shares of Keurig Dr Pepper by 8.5% in the 1st quarter. Vanguard Group Inc. now owns 49,026,596 shares of the company’s stock valued at $1,858,108,000 after acquiring an additional 3,853,922 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Keurig Dr Pepper by 20.5% during the fourth quarter. BlackRock Inc. now owns 40,506,588 shares of the company’s stock valued at $1,493,073,000 after buying an additional 6,898,701 shares in the last quarter. Boston Partners increased its holdings in shares of Keurig Dr Pepper by 12.2% in the 1st quarter. Boston Partners now owns 17,502,830 shares of the company’s stock valued at $663,230,000 after purchasing an additional 1,897,334 shares during the period. Finally, State Street Corp grew its stake in Keurig Dr Pepper by 1.7% in the fourth quarter. State Street Corp now owns 15,493,091 shares of the company’s stock valued at $571,075,000 after purchasing an additional 260,146 shares in the last quarter. 52.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KDP. StockNews.com raised shares of Keurig Dr Pepper from a “hold” rating to a “buy” rating in a report on Monday, July 18th. UBS Group raised their price target on Keurig Dr Pepper from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. cut their price objective on Keurig Dr Pepper from $44.00 to $42.00 in a research report on Wednesday, July 20th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.17.

Insider Activity at Keurig Dr Pepper

In other news, insider Herbert Derek Hopkins sold 37,500 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $35.55, for a total transaction of $1,333,125.00. Following the completion of the transaction, the insider now directly owns 174,610 shares of the company’s stock, valued at approximately $6,207,385.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Keurig Dr Pepper news, insider Herbert Derek Hopkins sold 37,500 shares of Keurig Dr Pepper stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $35.55, for a total transaction of $1,333,125.00. Following the sale, the insider now directly owns 174,610 shares of the company’s stock, valued at $6,207,385.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maurice Anthony Milikin acquired 12,986 shares of the stock in a transaction dated Monday, September 12th. The stock was bought at an average price of $38.97 per share, for a total transaction of $506,064.42. Following the completion of the purchase, the insider now owns 142,776 shares in the company, valued at approximately $5,563,980.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 129,797 shares of company stock worth $4,895,432 and sold 316,000 shares worth $12,102,475. 1.00% of the stock is currently owned by corporate insiders.

Keurig Dr Pepper Stock Performance

NASDAQ:KDP opened at $37.17 on Monday. The firm’s 50-day moving average is $38.79 and its 200-day moving average is $36.79. The company has a market cap of $52.64 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 3.15 and a beta of 0.61. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.37 and a current ratio of 0.56. Keurig Dr Pepper Inc. has a 52-week low of $32.44 and a 52-week high of $41.31.

Keurig Dr Pepper (NASDAQ:KDPGet Rating) last released its earnings results on Thursday, July 28th. The company reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. Keurig Dr Pepper had a return on equity of 9.15% and a net margin of 16.39%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. Equities research analysts anticipate that Keurig Dr Pepper Inc. will post 1.69 earnings per share for the current year.

Keurig Dr Pepper Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, September 29th. This is a boost from Keurig Dr Pepper’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.15%. Keurig Dr Pepper’s payout ratio is currently 49.34%.

Keurig Dr Pepper Profile

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Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages segments. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee.

Further Reading

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Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

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