Summit Global Investments Buys Shares of 20,835 Keurig Dr Pepper Inc. (NASDAQ:KDP)

Summit Global Investments bought a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,835 shares of the company's stock, valued at approximately $713,000.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock worth $3,841,140,000 after purchasing an additional 22,856,757 shares in the last quarter. Wellington Management Group LLP grew its stake in Keurig Dr Pepper by 10.3% during the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company's stock valued at $1,946,561,000 after acquiring an additional 5,646,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Keurig Dr Pepper by 36.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock valued at $1,755,564,000 after acquiring an additional 14,473,054 shares in the last quarter. Geode Capital Management LLC grew its stake in Keurig Dr Pepper by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company's stock valued at $784,974,000 after acquiring an additional 1,962,195 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Keurig Dr Pepper by 19.6% during the 4th quarter. Invesco Ltd. now owns 21,605,610 shares of the company's stock valued at $693,972,000 after acquiring an additional 3,539,463 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Morgan Stanley raised shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $38.00 to $40.00 in a research note on Tuesday, April 1st. HSBC raised shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their price target for the company from $36.00 to $42.00 in a research note on Friday, April 25th. Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and increased their price target for the company from $35.00 to $40.00 in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $39.33.

Insiders Place Their Bets

In other news, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $32.92, for a total transaction of $395,040.00. Following the sale, the insider now directly owns 118,511 shares of the company's stock, valued at $3,901,382.12. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Angela A. Stephens sold 14,500 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total transaction of $496,480.00. Following the completion of the sale, the vice president now owns 62,411 shares of the company's stock, valued at approximately $2,136,952.64. This trade represents a 18.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 698,500 shares of company stock worth $23,591,400 over the last ninety days. Company insiders own 0.40% of the company's stock.

Keurig Dr Pepper Stock Down 0.2%

NASDAQ KDP traded down $0.07 during trading hours on Thursday, reaching $32.73. 1,763,341 shares of the company traded hands, compared to its average volume of 10,700,132. Keurig Dr Pepper Inc. has a 12 month low of $30.12 and a 12 month high of $38.28. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $44.46 billion, a PE ratio of 19.82, a PEG ratio of 2.42 and a beta of 0.48. The company has a 50 day moving average of $34.11 and a two-hundred day moving average of $33.04.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The company had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.57 billion. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, equities analysts expect that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.92 annualized dividend and a yield of 2.81%. Keurig Dr Pepper's payout ratio is 83.64%.

About Keurig Dr Pepper

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.