AXQ Capital LP Purchases New Shares in Keurig Dr Pepper, Inc $KDP

AXQ Capital LP acquired a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 39,959 shares of the company’s stock, valued at approximately $1,019,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Keurig Dr Pepper in the 2nd quarter worth approximately $568,525,000. Vanguard Group Inc. increased its stake in shares of Keurig Dr Pepper by 9.8% in the 2nd quarter. Vanguard Group Inc. now owns 159,257,574 shares of the company’s stock valued at $5,265,055,000 after buying an additional 14,244,768 shares during the period. Invesco Ltd. raised its position in shares of Keurig Dr Pepper by 43.2% during the second quarter. Invesco Ltd. now owns 31,467,631 shares of the company’s stock worth $1,040,320,000 after acquiring an additional 9,494,503 shares during the last quarter. State Street Corp lifted its stake in shares of Keurig Dr Pepper by 11.2% during the second quarter. State Street Corp now owns 63,608,006 shares of the company’s stock valued at $2,117,279,000 after acquiring an additional 6,412,494 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Keurig Dr Pepper by 13.5% in the second quarter. Geode Capital Management LLC now owns 30,217,363 shares of the company’s stock valued at $994,275,000 after acquiring an additional 3,595,579 shares during the last quarter. 93.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KDP has been the topic of a number of research reports. Jefferies Financial Group downgraded shares of Keurig Dr Pepper from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $32.00 in a research report on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, October 28th. Piper Sandler lifted their target price on shares of Keurig Dr Pepper from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Keurig Dr Pepper in a research note on Wednesday, January 28th. Finally, Barclays raised their price target on Keurig Dr Pepper from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Keurig Dr Pepper presently has an average rating of “Moderate Buy” and an average price target of $34.87.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $29.77 on Tuesday. The company has a market capitalization of $40.44 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.14 and a beta of 0.34. Keurig Dr Pepper, Inc has a 52 week low of $25.03 and a 52 week high of $36.12. The company’s 50 day moving average price is $28.14 and its two-hundred day moving average price is $28.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.38 and a current ratio of 0.62.

Keurig Dr Pepper Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be issued a $0.23 dividend. The ex-dividend date is Friday, March 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. Keurig Dr Pepper’s dividend payout ratio (DPR) is 79.31%.

Insider Buying and Selling

In related news, VP Angela A. Stephens sold 10,000 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $29.52, for a total transaction of $295,200.00. Following the completion of the transaction, the vice president owned 54,200 shares in the company, valued at approximately $1,599,984. This represents a 15.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Keurig Dr Pepper Company 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.