Bank of Nova Scotia Sells 211,816 Shares of Keurig Dr Pepper, Inc $KDP

Bank of Nova Scotia reduced its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP) by 43.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,796 shares of the company’s stock after selling 211,816 shares during the quarter. Bank of Nova Scotia’s holdings in Keurig Dr Pepper were worth $7,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KDP. T. Rowe Price Investment Management Inc. acquired a new position in Keurig Dr Pepper in the fourth quarter valued at about $727,667,000. Norges Bank acquired a new position in shares of Keurig Dr Pepper during the 4th quarter worth about $568,361,000. Capital International Investors increased its stake in shares of Keurig Dr Pepper by 1,987.4% in the 4th quarter. Capital International Investors now owns 16,858,031 shares of the company’s stock valued at $472,193,000 after acquiring an additional 16,050,437 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Keurig Dr Pepper by 37.0% in the 4th quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company’s stock valued at $1,596,664,000 after acquiring an additional 15,393,753 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Keurig Dr Pepper by 285.3% in the 4th quarter. AQR Capital Management LLC now owns 11,636,027 shares of the company’s stock valued at $325,925,000 after acquiring an additional 8,615,869 shares during the period. Institutional investors and hedge funds own 93.99% of the company’s stock.

Keurig Dr Pepper Stock Performance

Shares of KDP stock opened at $30.12 on Tuesday. The company has a market capitalization of $40.98 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.36 and a beta of 0.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The company has a 50-day simple moving average of $30.91 and a 200 day simple moving average of $28.94. Keurig Dr Pepper, Inc has a 52 week low of $24.88 and a 52 week high of $35.94.

Keurig Dr Pepper Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 26th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 annualized dividend and a yield of 3.1%. Keurig Dr Pepper’s dividend payout ratio is currently 68.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup boosted their target price on Keurig Dr Pepper from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded Keurig Dr Pepper from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on Keurig Dr Pepper from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company set a $37.00 target price on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Finally, Sanford C. Bernstein set a $39.00 price target on shares of Keurig Dr Pepper in a research note on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.40.

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.