Keurig Dr Pepper, Inc $KDP Position Boosted by Bank of America Corp DE

Key Points

• Bank of America increased its Keurig Dr Pepper stake by 1.2% in the first quarter, bringing its holdings to 8.23 million shares worth approximately $216.8 million. Institutional investors collectively own 93.99% of KDP.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $33.94. Citigroup, JPMorgan and Barclays recently raised their price targets or ratings.
• KDP shares opened at $31.10, while the company maintains a quarterly dividend of $0.23 per share, equivalent to an annualized $0.92 payout and a 3.0% yield.

Bank of America Corp DE grew its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,233,747 shares of the company's stock after purchasing an additional 96,646 shares during the period. Bank of America Corp DE owned about 0.61% of Keurig Dr Pepper worth $216,795,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KDP. Auxier Asset Management increased its position in Keurig Dr Pepper by 0.4% in the 2nd quarter. Auxier Asset Management now owns 72,163 shares of the company's stock worth $2,386,000 after purchasing an additional 318 shares during the last quarter. Rossby Financial LCC lifted its stake in Keurig Dr Pepper by 45.1% in the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after acquiring an additional 339 shares during the last quarter. Wealth Watch Advisors INC lifted its stake in Keurig Dr Pepper by 18.3% in the fourth quarter. Wealth Watch Advisors INC now owns 2,407 shares of the company's stock valued at $67,000 after acquiring an additional 373 shares during the last quarter. Transamerica Financial Advisors LLC grew its position in Keurig Dr Pepper by 19.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 2,567 shares of the company's stock worth $72,000 after acquiring an additional 420 shares in the last quarter. Finally, BOKF NA grew its position in Keurig Dr Pepper by 44.1% in the third quarter. BOKF NA now owns 1,388 shares of the company's stock worth $35,000 after acquiring an additional 425 shares in the last quarter. 93.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Evercore set a $30.00 price target on shares of Keurig Dr Pepper in a report on Friday, April 24th. Citigroup upped their price objective on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. increased their target price on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Barclays upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $30.00 to $36.00 in a report on Thursday, June 25th. Finally, BNP Paribas Exane raised Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 price target for the company in a research report on Wednesday, April 22nd. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.94.

Keurig Dr Pepper Trading Up 0.6%

NASDAQ:KDP opened at $31.10 on Wednesday. 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 $42.31 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 1.41 and a beta of 0.40. 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 company's 50 day moving average is $31.17 and its 200-day moving average is $29.08.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.23 per share. The ex-dividend date 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 payout ratio is 68.15%.

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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