Allianz Asset Management GmbH Raises Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Allianz Asset Management GmbH lifted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 46.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,700 shares of the company's stock after acquiring an additional 33,769 shares during the quarter. Allianz Asset Management GmbH's holdings in Keurig Dr Pepper were worth $3,617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Keurig Dr Pepper by 36.0% in the fourth 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 buying an additional 14,473,054 shares during the period. Geode Capital Management LLC boosted its stake in shares of Keurig Dr Pepper by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company's stock valued at $784,974,000 after buying an additional 1,962,195 shares during the period. Invesco Ltd. boosted its stake in shares of Keurig Dr Pepper by 19.6% in the fourth quarter. Invesco Ltd. now owns 21,605,610 shares of the company's stock valued at $693,972,000 after buying an additional 3,539,463 shares during the period. Northern Trust Corp boosted its stake in shares of Keurig Dr Pepper by 20.6% in the fourth quarter. Northern Trust Corp now owns 13,598,633 shares of the company's stock valued at $436,788,000 after buying an additional 2,320,614 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Keurig Dr Pepper by 18.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,926,645 shares of the company's stock valued at $318,836,000 after buying an additional 1,548,622 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Keurig Dr Pepper Stock Up 2.1%

Shares of KDP stock traded up $0.67 on Friday, reaching $33.32. 11,675,843 shares of the company were exchanged, compared to its average volume of 10,397,284. The company has a market cap of $45.26 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.38 and a beta of 0.45. The company has a 50-day moving average of $33.26 and a 200-day moving average of $33.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. Keurig Dr Pepper, Inc has a one year low of $30.12 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting analysts' consensus estimates of $0.49. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper's dividend payout ratio is currently 82.14%.

Wall Street Analyst Weigh In

Several brokerages have commented on KDP. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Barclays upped their price target on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and upped their price target for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Piper Sandler upgraded Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $35.00 to $40.00 in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $39.77.

Insider Buying and Selling at Keurig Dr Pepper

In related news, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $33.66, for a total value of $403,920.00. Following the sale, the insider owned 82,511 shares in the company, valued at $2,777,320.26. This represents a 12.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert James Gamgort sold 208,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $33.18, for a total transaction of $6,901,440.00. Following the completion of the sale, the director owned 2,500,169 shares of the company's stock, valued at approximately $82,955,607.42. This trade represents a 7.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 490,500 shares of company stock worth $16,298,360. 0.40% of the stock is currently owned by insiders.

Keurig Dr Pepper Company Profile

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.