Fidelity National Financial Inc. Makes New Investment in Keurig Dr Pepper, Inc $KDP

Key Points

• Fidelity National Financial opened a new position in Keurig Dr Pepper during the fourth quarter, buying 548,000 shares valued at about $15.35 million. The stake makes KDP its 13th-largest holding and roughly 0.5% of its portfolio.
• Keurig Dr Pepper’s latest quarterly results beat earnings expectations, with EPS of $0.39 versus forecasts of $0.37, while revenue rose 9.4% year over year to $3.98 billion. Analysts now expect the company to earn about 2.29 EPS for the full fiscal year.
• The company also announced a quarterly dividend of $0.23 per share, equal to an annualized yield of 2.9%. Meanwhile, analysts are mixed on the stock, with a consensus rating of Hold and an average price target of $31.57.

Fidelity National Financial Inc. purchased a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 548,000 shares of the company's stock, valued at approximately $15,349,000. Keurig Dr Pepper accounts for about 0.5% of Fidelity National Financial Inc.'s investment portfolio, making the stock its 13th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in Keurig Dr Pepper during the 4th quarter worth about $26,000. Clearstead Trust LLC grew its position in Keurig Dr Pepper by 98.3% during the 3rd quarter. Clearstead Trust LLC now owns 1,081 shares of the company's stock worth $28,000 after purchasing an additional 536 shares during the period. SBI Securities Co. Ltd. grew its position in Keurig Dr Pepper by 71.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company's stock worth $30,000 after purchasing an additional 484 shares during the period. Activest Wealth Management grew its position in Keurig Dr Pepper by 5,642.1% during the 4th quarter. Activest Wealth Management now owns 1,091 shares of the company's stock worth $31,000 after purchasing an additional 1,072 shares during the period. Finally, Washington Trust Advisors Inc. acquired a new stake in Keurig Dr Pepper during the 4th quarter worth about $31,000. 93.99% of the stock is owned by institutional investors and hedge funds.

Keurig Dr Pepper Trading Up 0.7%

Shares of Keurig Dr Pepper stock opened at $31.70 on Thursday. 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's 50-day moving average price is $28.30 and its 200 day moving average price is $28.20. The firm has a market capitalization of $43.13 billion, a PE ratio of 23.48, a P/E/G ratio of 1.44 and a beta of 0.41. 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 issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. The firm had revenue of $3.98 billion for the quarter, compared to analyst estimates of $7.23 billion. Keurig Dr Pepper had a return on equity of 10.51% and a net margin of 10.81%.The business's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. On average, sell-side analysts predict that Keurig Dr Pepper, Inc will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 26th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. Keurig Dr Pepper's payout ratio is currently 68.15%.

Analyst Ratings Changes

Several brokerages have weighed in on KDP. JPMorgan Chase & Co. increased their price target on Keurig Dr Pepper from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, April 24th. Zacks Research cut shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. Citigroup decreased their target price on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, April 15th. Wells Fargo & Company decreased their target price on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft decreased 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 research note on Monday, March 30th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $31.57.

Keurig Dr Pepper Profile

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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