Chevy Chase Trust Holdings LLC Boosts Stock Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Chevy Chase Trust Holdings LLC lifted its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 626,821 shares of the company's stock after buying an additional 35,307 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Keurig Dr Pepper were worth $21,450,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KDP. LaFleur & Godfrey LLC increased its holdings in Keurig Dr Pepper by 44.6% during the first quarter. LaFleur & Godfrey LLC now owns 36,290 shares of the company's stock valued at $1,242,000 after buying an additional 11,200 shares during the period. Spirepoint Private Client LLC bought a new stake in Keurig Dr Pepper during the 1st quarter valued at $206,000. Asset Management One Co. Ltd. increased its holdings in shares of Keurig Dr Pepper by 7.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 609,754 shares of the company's stock valued at $20,866,000 after acquiring an additional 39,744 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Keurig Dr Pepper by 189.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 36,046 shares of the company's stock worth $1,233,000 after acquiring an additional 23,602 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Keurig Dr Pepper by 656.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 205,556 shares of the company's stock worth $7,034,000 after purchasing an additional 178,368 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on KDP shares. Barclays increased their price target on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Morgan Stanley raised shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $38.00 to $40.00 in a research report on Tuesday, April 1st. UBS Group lifted their price target on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their price objective for the company from $36.00 to $42.00 in a report on Friday, April 25th. Finally, Piper Sandler upgraded Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $35.00 to $40.00 in a research note on Wednesday, April 9th. Two research 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Insider Activity

In other news, insider Mary Beth Denooyer sold 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $34.78, for a total value of $417,360.00. Following the transaction, the insider now owns 166,511 shares in the company, valued at $5,791,252.58. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Angela A. Stephens sold 14,500 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $34.24, for a total value of $496,480.00. Following the completion of the transaction, the vice president now directly owns 62,411 shares of the company's stock, valued at approximately $2,136,952.64. This represents a 18.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 698,500 shares of company stock worth $23,594,400 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

Keurig Dr Pepper Price Performance

Shares of Keurig Dr Pepper stock traded up $0.06 on Thursday, hitting $33.04. The company's stock had a trading volume of 9,065,825 shares, compared to its average volume of 10,858,994. The company has a market capitalization of $44.87 billion, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 2.61 and a beta of 0.48. Keurig Dr Pepper, Inc has a 1 year low of $30.12 and a 1 year 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. The firm has a fifty day moving average price of $33.63 and a 200-day moving average price of $33.10.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, topping 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 business 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 company posted $0.38 EPS. The business's quarterly revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, June 27th. 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.