Allstate Corp Purchases New Shares in Keurig Dr Pepper, Inc $KDP

Allstate Corp bought a new stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 48,510 shares of the company’s stock, valued at approximately $1,237,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its position in Keurig Dr Pepper by 69.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 105,015 shares of the company’s stock worth $2,660,000 after acquiring an additional 43,223 shares during the last quarter. Fiduciary Family Office LLC lifted its stake in shares of Keurig Dr Pepper by 59.9% in the 3rd quarter. Fiduciary Family Office LLC now owns 15,010 shares of the company’s stock valued at $383,000 after purchasing an additional 5,621 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Keurig Dr Pepper by 2.0% during the third quarter. Maryland State Retirement & Pension System now owns 64,209 shares of the company’s stock worth $1,638,000 after buying an additional 1,265 shares during the last quarter. Bfsg LLC grew its holdings in Keurig Dr Pepper by 8.7% during the third quarter. Bfsg LLC now owns 149,299 shares of the company’s stock valued at $3,809,000 after purchasing an additional 11,922 shares during the period. Finally, BCS Private Wealth Management Inc. increased its position in shares of Keurig Dr Pepper by 108.8% in the 3rd quarter. BCS Private Wealth Management Inc. now owns 22,600 shares of the company’s stock valued at $582,000 after buying an additional 11,774 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Up 2.0%

NASDAQ:KDP opened at $27.95 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.62 and a quick ratio of 0.38. Keurig Dr Pepper, Inc has a one year low of $25.03 and a one year high of $36.12. The company has a market cap of $37.97 billion, a PE ratio of 24.10, a P/E/G ratio of 1.89 and a beta of 0.34. The firm’s 50 day simple moving average is $27.94 and its 200 day simple moving average is $29.11.

Keurig Dr Pepper (NASDAQ:KDP) last announced its earnings results on Monday, October 27th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.15 billion. Keurig Dr Pepper had a return on equity of 11.19% and a net margin of 9.78%.Keurig Dr Pepper’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. On average, research analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, January 2nd were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, January 2nd. Keurig Dr Pepper’s payout ratio is currently 79.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KDP. The Goldman Sachs Group cut their price target on shares of Keurig Dr Pepper from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, October 2nd. JPMorgan Chase & Co. cut their price target on shares of Keurig Dr Pepper from $39.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Jefferies Financial Group downgraded Keurig Dr Pepper from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $32.00 in a research note on Tuesday, December 16th. Bank of America decreased their price target on shares of Keurig Dr Pepper from $41.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Finally, UBS Group reiterated a “buy” rating and issued a $35.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, October 28th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.87.

Insider Activity

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 10,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $29.52, for a total transaction of $295,200.00. Following the transaction, the vice president directly owned 54,200 shares in the company, valued at approximately $1,599,984. This represents a 15.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Profile

Keurig Dr Pepper (NASDAQ: KDP) is a North American beverage company formed in July 2018 through the combination of Keurig Green Mountain and Dr Pepper Snapple Group. The company designs, manufactures, markets and distributes a wide range of hot and cold beverages and related equipment, combining Keurig’s single‑serve coffee systems with a large portfolio of carbonated and noncarbonated drink brands. It operates a network of manufacturing, packaging and distribution facilities to supply retail, foodservice and e-commerce channels across its served markets.

The company’s product mix includes single‑serve coffee brewers and coffee pods under the Keurig brand as well as a broad assortment of branded beverages.