Geode Capital Management LLC Increases Stake in Keurig Dr Pepper, Inc $KDP

Key Points

• Geode Capital Management increased its Keurig Dr Pepper stake by 3.9% in the fourth quarter, bringing its holdings to 31.8 million shares valued at about $887 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 93.99% of KDP shares, while several other firms also modestly increased their positions.
• Analyst sentiment is mixed: the stock currently carries an average “Hold” rating with a consensus price target of $31.57, even as recent earnings beat EPS estimates and the company declared a $0.23 quarterly dividend.

Geode Capital Management LLC raised its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 31,802,056 shares of the company's stock after purchasing an additional 1,187,457 shares during the period. Geode Capital Management LLC owned 2.34% of Keurig Dr Pepper worth $887,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Auxier Asset Management raised its holdings in Keurig Dr Pepper by 0.4% in the 2nd quarter. Auxier Asset Management now owns 72,163 shares of the company's stock valued at $2,386,000 after acquiring an additional 318 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Keurig Dr Pepper by 3.0% in the 4th quarter. Park Avenue Securities LLC now owns 13,691 shares of the company's stock valued at $383,000 after acquiring an additional 405 shares during the last quarter. BOKF NA raised its holdings in Keurig Dr Pepper by 44.1% in the 3rd quarter. BOKF NA now owns 1,388 shares of the company's stock valued at $35,000 after acquiring an additional 425 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Keurig Dr Pepper by 71.7% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,159 shares of the company's stock valued at $30,000 after acquiring an additional 484 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Keurig Dr Pepper by 0.9% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 57,687 shares of the company's stock valued at $1,472,000 after acquiring an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Keurig Dr Pepper from $40.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. JPMorgan Chase & Co. upped their target price on Keurig Dr Pepper from $32.00 to $33.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Zacks Research cut Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. UBS Group upped their target price on Keurig Dr Pepper from $32.00 to $34.00 and gave the company a "buy" rating in a report on Friday, April 24th. Finally, Weiss Ratings upgraded Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $31.57.

Keurig Dr Pepper Price Performance

Shares of KDP opened at $30.03 on Friday. Keurig Dr Pepper, Inc has a 1-year low of $24.88 and a 1-year high of $35.94. The stock has a market cap of $40.86 billion, a PE ratio of 22.24, a P/E/G ratio of 1.37 and a beta of 0.41. The firm has a 50-day simple moving average of $27.63 and a two-hundred day simple moving average of $27.98. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12.

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 for the quarter, beating 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 business had revenue of $3.98 billion during the quarter, compared to analysts' expectations of $7.23 billion. During the same period last year, the business earned $0.42 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts forecast that Keurig Dr Pepper, Inc will post 2.29 EPS for the current 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 given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, June 26th. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 68.15%.

Keurig Dr Pepper Company 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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