Fifth Third Bancorp Acquires 169,765 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Fifth Third Bancorp increased its Keurig Dr Pepper stake by 555.2% in the first quarter, adding 169,765 shares to reach 200,343 shares valued at about $5.28 million.
• Keurig Dr Pepper stock was down 1.5% and traded at $30.91, with a market cap of $42.05 billion and a dividend yield of roughly 3.0% based on its recent quarterly payout of $0.23 per share.
• The company beat earnings expectations with Q1 EPS of $0.39 versus $0.37 expected, though revenue came in below forecasts; analysts currently have an average Hold rating and a $33.07 target price.

Fifth Third Bancorp boosted its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 555.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,343 shares of the company's stock after buying an additional 169,765 shares during the quarter. Fifth Third Bancorp's holdings in Keurig Dr Pepper were worth $5,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KDP. T. Rowe Price Investment Management Inc. bought a new position in shares of Keurig Dr Pepper in the fourth quarter valued at approximately $727,667,000. Norges Bank purchased a new stake in shares of Keurig Dr Pepper in the 4th quarter valued at about $568,361,000. Capital International Investors grew its stake in Keurig Dr Pepper by 1,987.4% in the 4th quarter. Capital International Investors now owns 16,858,031 shares of the company's stock worth $472,193,000 after buying an additional 16,050,437 shares in the last quarter. Wellington Management Group LLP grew its stake in Keurig Dr Pepper by 37.0% in the 4th quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock worth $1,596,664,000 after buying an additional 15,393,753 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Keurig Dr Pepper by 285.3% in the 4th quarter. AQR Capital Management LLC now owns 11,636,027 shares of the company's stock worth $325,925,000 after buying an additional 8,615,869 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Down 1.5%

KDP stock opened at $30.91 on Friday. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average of $30.79 and a 200 day moving average of $28.83. The firm has a market cap of $42.05 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced 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. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. The company had revenue of $3.98 billion for the quarter, compared to analysts' expectations of $7.23 billion. During the same quarter in the previous year, the business posted $0.42 EPS. Keurig Dr Pepper's revenue was up 9.4% compared to the same quarter last year. On average, research analysts forecast that Keurig Dr Pepper, Inc will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.0%. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 68.15%.

Wall Street Analysts Forecast Growth

KDP has been the topic of several research reports. UBS Group raised their price objective on shares of Keurig Dr Pepper from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday. Wells Fargo & Company set a $37.00 target price on Keurig Dr Pepper in a research note on Wednesday, July 1st. Weiss Ratings upgraded Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. The Goldman Sachs Group upgraded Keurig Dr Pepper from a "neutral" rating to a "neutral" rating in a research report on Thursday, June 25th. Finally, Sanford C. Bernstein set a $39.00 price target on Keurig Dr Pepper in a research note on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Keurig Dr Pepper presently has an average rating of "Hold" and an average target price of $33.07.

About Keurig Dr Pepper

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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