Keurig Dr Pepper, Inc $KDP Shares Purchased by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group boosted its stake in Keurig Dr Pepper by 47.5% in the fourth quarter, ending with 179,570 shares valued at about $5.03 million.
• Keurig Dr Pepper reported quarterly EPS of $0.39, topping estimates by $0.02, while revenue rose 9.4% year over year to $3.98 billion.
• The company announced a quarterly dividend of $0.23 per share, payable July 10, for an annualized yield of 3.2%; analysts currently rate the stock a consensus Hold.

PNC Financial Services Group Inc. increased its holdings in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 47.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,570 shares of the company's stock after acquiring an additional 57,797 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Keurig Dr Pepper were worth $5,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KDP. Marshall Wace LLP increased its stake in shares of Keurig Dr Pepper by 1,546.0% in the third quarter. Marshall Wace LLP now owns 2,937,129 shares of the company's stock valued at $74,926,000 after purchasing an additional 2,758,685 shares during the period. Man Group plc increased its stake in shares of Keurig Dr Pepper by 4,084.2% in the third quarter. Man Group plc now owns 2,411,713 shares of the company's stock valued at $61,523,000 after purchasing an additional 2,354,075 shares during the period. Voloridge Investment Management LLC increased its stake in shares of Keurig Dr Pepper by 2,129.0% in the third quarter. Voloridge Investment Management LLC now owns 2,374,879 shares of the company's stock valued at $60,583,000 after purchasing an additional 2,268,336 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Keurig Dr Pepper by 90.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,161,158 shares of the company's stock valued at $115,597,000 after purchasing an additional 1,973,269 shares during the period. Finally, Two Sigma Investments LP increased its stake in shares of Keurig Dr Pepper by 1,538.4% in the third quarter. Two Sigma Investments LP now owns 1,788,162 shares of the company's stock valued at $45,616,000 after purchasing an additional 1,679,023 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

NASDAQ KDP opened at $29.12 on Tuesday. Keurig Dr Pepper, Inc has a 12 month low of $24.88 and a 12 month high of $35.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. The firm has a market capitalization of $39.62 billion, a PE ratio of 21.57, a P/E/G ratio of 1.33 and a beta of 0.41. The company's 50 day simple moving average is $27.43 and its 200 day simple moving average is $27.89.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.39 EPS 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 for the quarter, compared to analyst estimates of $7.23 billion. During the same quarter 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, equities research analysts forecast that Keurig Dr Pepper, Inc will post 2.29 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, June 26th. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 68.15%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KDP shares. Barclays raised their price target on shares of Keurig Dr Pepper from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday, April 27th. Citigroup dropped their price target on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Keurig Dr Pepper from $34.00 to $28.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. Evercore set a $30.00 price target on shares of Keurig Dr Pepper in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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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