Keurig Dr Pepper, Inc $KDP Holdings Raised by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder increased its Keurig Dr Pepper stake by 22.3% in the second quarter, bringing its holdings to 714,051 shares valued at approximately $23.4 million. Institutional investors collectively own nearly 94% of KDP’s outstanding stock.
• Analysts maintain a generally favorable outlook, with KDP receiving a “Moderate Buy” consensus rating and an average price target of $34.12. Recent targets range from $30 to $39.
• Keurig Dr Pepper exceeded quarterly expectations, reporting $0.57 in adjusted earnings per share versus a $0.54 estimate and $7.31 billion in revenue. The company also pays a quarterly dividend of $0.23, equivalent to an annualized yield of about 3.1%.

Handelsbanken Fonder AB raised its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 22.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 714,051 shares of the company's stock after buying an additional 130,191 shares during the period. Handelsbanken Fonder AB owned about 0.05% of Keurig Dr Pepper worth $23,371,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Keurig Dr Pepper by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock worth $4,508,456,000 after acquiring an additional 1,538,456 shares in the last quarter. State Street Corp grew its stake in Keurig Dr Pepper by 1.6% in the third quarter. State Street Corp now owns 64,594,706 shares of the company's stock valued at $1,662,361,000 after purchasing an additional 986,700 shares in the last quarter. Wellington Management Group LLP grew its stake in Keurig Dr Pepper by 37.0% in the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock valued at $1,596,664,000 after purchasing an additional 15,393,753 shares in the last quarter. Geode Capital Management LLC increased its position in Keurig Dr Pepper by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock worth $887,021,000 after purchasing an additional 1,187,457 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Keurig Dr Pepper in the 4th quarter worth about $727,667,000. 93.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KDP shares. Evercore set a $30.00 price target on Keurig Dr Pepper in a 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. Sanford C. Bernstein set a $39.00 target price on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. Barclays raised their price target on shares of Keurig Dr Pepper from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Monday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Keurig Dr Pepper in a report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.12.

Keurig Dr Pepper Trading Up 1.3%

NASDAQ:KDP opened at $29.56 on Thursday. The company's 50 day moving average is $31.13 and its 200-day moving average is $29.18. The company has a quick ratio of 0.28, a current ratio of 0.48 and a debt-to-equity ratio of 0.74. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.94. The firm has a market cap of $40.22 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 1.30 and a beta of 0.40.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a net margin of 7.10% and a return on equity of 10.80%. The business's quarterly revenue was up 75.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. Equities analysts anticipate that Keurig Dr Pepper, Inc will post 2.3 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were paid a $0.23 dividend. The ex-dividend date was Friday, June 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.1%. Keurig Dr Pepper's payout ratio is presently 92.93%.

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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