Atlantic Edge Private Wealth Management LLC lifted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 31.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,451 shares of the company's stock after purchasing an additional 8,382 shares during the period. Atlantic Edge Private Wealth Management LLC's holdings in Keurig Dr Pepper were worth $1,213,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC raised its position in Keurig Dr Pepper by 6.0% during the first quarter. Concurrent Investment Advisors LLC now owns 54,697 shares of the company's stock worth $1,872,000 after acquiring an additional 3,086 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Keurig Dr Pepper by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 7,561,219 shares of the company's stock worth $258,745,000 after purchasing an additional 256,450 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Keurig Dr Pepper by 33.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 5,251 shares of the company's stock worth $180,000 after purchasing an additional 1,305 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Keurig Dr Pepper by 2.4% in the first quarter. IFM Investors Pty Ltd now owns 278,682 shares of the company's stock worth $10,445,000 after acquiring an additional 6,592 shares during the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of Keurig Dr Pepper in the first quarter worth $210,000. Institutional investors and hedge funds own 93.99% of the company's stock.
Wall Street Analysts Forecast Growth
KDP has been the subject of several analyst reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $35.00 to $40.00 in a research report on Wednesday, April 9th. Argus began coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They issued a "buy" rating and a $40.00 price objective for the company. Barclays cut their price target on Keurig Dr Pepper from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, June 27th. Finally, Hsbc Global Res upgraded Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $39.92.
Read Our Latest Report on Keurig Dr Pepper
Keurig Dr Pepper Trading Up 0.7%
KDP traded up $0.25 on Tuesday, reaching $34.03. 10,801,005 shares of the company's stock were exchanged, compared to its average volume of 10,923,455. The company's 50 day moving average is $33.37 and its 200-day moving average is $33.12. The company has a market cap of $46.22 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 2.60 and a beta of 0.47. Keurig Dr Pepper, Inc has a twelve month low of $30.12 and a twelve month high of $38.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.47.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the firm earned $0.38 EPS. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, June 27th. Keurig Dr Pepper's dividend payout ratio (DPR) is 83.64%.
Insider Activity
In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $33.64, for a total transaction of $403,680.00. Following the completion of the sale, the insider owned 94,511 shares in the company, valued at $3,179,350.04. This trade represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director De Ven Michael G. Van purchased 15,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were bought at an average cost of $33.20 per share, with a total value of $498,000.00. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $498,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 698,500 shares of company stock worth $23,580,720 over the last three months. Insiders own 1.00% of the company's stock.
Keurig Dr Pepper Profile
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Free Report)
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.
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