Avanza Fonder AB lowered its stake in Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 17.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,501 shares of the company's stock after selling 19,938 shares during the quarter. Avanza Fonder AB's holdings in Keurig Dr Pepper were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Keurig Dr Pepper by 23.6% during the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock valued at $3,841,140,000 after acquiring 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.
Insider Buying and Selling at Keurig Dr Pepper
In other news, Director Robert James Gamgort sold 208,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $34.12, for a total transaction of $7,096,960.00. Following the sale, the director now owns 2,846,490 shares of the company's stock, valued at $97,122,238.80. This trade represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $35.59, for a total value of $427,080.00. Following the completion of the sale, the insider now directly owns 154,511 shares in the company, valued at approximately $5,499,046.49. This represents a 7.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 698,500 shares of company stock valued at $23,591,400. 0.40% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on KDP. Royal Bank of Canada reaffirmed an "outperform" rating and set a $42.00 target price on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Piper Sandler raised Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $35.00 to $40.00 in a research note on Wednesday, April 9th. UBS Group boosted their target price on Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. boosted their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Argus began coverage on Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a "buy" rating and a $40.00 target price for the company. Four investment 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.com, Keurig Dr Pepper has an average rating of "Moderate Buy" and an average target price of $39.33.
Read Our Latest Analysis on KDP
Keurig Dr Pepper Price Performance
Shares of KDP stock traded up $0.28 during trading hours on Thursday, hitting $33.14. 8,453,810 shares of the company's stock were exchanged, compared to its average volume of 10,805,686. The stock's 50-day moving average is $33.91 and its 200-day moving average is $33.07. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The stock has a market cap of $45.01 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.42 and a beta of 0.48. Keurig Dr Pepper Inc. has a 52 week low of $30.12 and a 52 week high of $38.28.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted 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 10.45% and a net margin of 15.04%. The business had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter last year, the business earned $0.38 earnings per share. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.
Keurig Dr Pepper Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, June 27th. Keurig Dr Pepper's payout ratio is 83.64%.
About Keurig Dr Pepper
(
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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