Alberta Investment Management Corp Increases Position in Keurig Dr Pepper, Inc $KDP

Key Points

• Alberta Investment Management Corp increased its stake in Keurig Dr Pepper by 71.5% in the fourth quarter, adding 100,000 shares to reach 239,800 shares valued at about $6.7 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 93.99% of the company’s stock. Several large firms, including Vanguard, State Street, and Geode Capital, also boosted their positions.
• Keurig Dr Pepper’s stock and fundamentals showed modest strength, with shares up 0.7% to $32.00 and the company recently beating EPS estimates for the quarter while also announcing a quarterly dividend of $0.23 per share.

Alberta Investment Management Corp lifted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 71.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,800 shares of the company's stock after purchasing an additional 100,000 shares during the period. Alberta Investment Management Corp's holdings in Keurig Dr Pepper were worth $6,717,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KDP. Vanguard Group Inc. increased its holdings in Keurig Dr Pepper by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock valued at $4,508,456,000 after buying an additional 1,538,456 shares in the last quarter. State Street Corp boosted its stake in shares of Keurig Dr Pepper by 1.6% during the 3rd quarter. State Street Corp now owns 64,594,706 shares of the company's stock worth $1,662,361,000 after acquiring an additional 986,700 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Keurig Dr Pepper by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock worth $887,021,000 after acquiring an additional 1,187,457 shares in the last quarter. Morgan Stanley boosted its position in Keurig Dr Pepper by 3.0% during the fourth quarter. Morgan Stanley now owns 25,357,596 shares of the company's stock worth $710,266,000 after purchasing an additional 730,864 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Keurig Dr Pepper by 3.3% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,247,485 shares of the company's stock valued at $595,142,000 after purchasing an additional 688,519 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Trading Up 0.7%

Shares of KDP stock opened at $32.00 on Wednesday. The company has a market capitalization of $43.54 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.45 and a beta of 0.41. The company has a current ratio of 2.31, a quick ratio of 2.12 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $28.79 and a 200 day moving average price of $28.32. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. Research analysts forecast that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a yield of 2.9%. Keurig Dr Pepper's dividend payout ratio (DPR) is 68.15%.

Wall Street Analyst Weigh In

KDP has been the subject of several research reports. Evercore set a $30.00 price target on Keurig Dr Pepper in a research note on Friday, April 24th. BNP Paribas Exane raised shares of Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 price objective on the stock in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating for the company in a report on Monday, March 30th. Barclays lifted their target price on shares of Keurig Dr Pepper from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Monday, April 27th. Finally, Sanford C. Bernstein assumed coverage on shares of Keurig Dr Pepper in a research report on Thursday, June 11th. They issued an "outperform" rating and a $38.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $32.00.

About Keurig Dr Pepper

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.

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