Brandywine Global Investment Management LLC Boosts Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• Brandywine Global Investment Management LLC increased its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP) by 1.8%, owning 820,567 shares valued at approximately $28 million following additional purchases in the first quarter.
• In recent analyst evaluations, JPMorgan Chase & Co. lowered its target price for Keurig Dr Pepper to $38.00 while maintaining an "overweight" rating, whereas other firms like Hsbc Global Res upgraded the stock to "strong-buy".
• The company declared a quarterly dividend of $0.23 per share, resulting in an annualized dividend yield of 2.6%, despite having a payout ratio of 82.14%.

Brandywine Global Investment Management LLC boosted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 820,567 shares of the company's stock after acquiring an additional 14,837 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of Keurig Dr Pepper worth $28,080,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Keurig Dr Pepper by 21.3% in the first quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company's stock valued at $4,962,338,000 after purchasing an additional 25,425,644 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Keurig Dr Pepper by 36.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock valued at $1,755,564,000 after purchasing an additional 14,473,054 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Keurig Dr Pepper by 108.1% in the first quarter. JPMorgan Chase & Co. now owns 38,882,672 shares of the company's stock valued at $1,330,565,000 after purchasing an additional 20,196,835 shares during the last quarter. Invesco Ltd. boosted its position in Keurig Dr Pepper by 1.7% during the first quarter. Invesco Ltd. now owns 21,973,128 shares of the company's stock valued at $751,920,000 after purchasing an additional 367,518 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Keurig Dr Pepper by 20.6% during the fourth quarter. Northern Trust Corp now owns 13,598,633 shares of the company's stock valued at $436,788,000 after purchasing an additional 2,320,614 shares during the last quarter. 93.99% of the stock is currently owned by institutional investors and hedge funds.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP traded up $0.53 during midday trading on Tuesday, reaching $35.18. The company had a trading volume of 5,823,080 shares, compared to its average volume of 11,919,111. The company's 50 day moving average price is $33.54 and its 200 day moving average price is $33.57. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. Keurig Dr Pepper, Inc has a 52-week low of $30.12 and a 52-week high of $38.28. The stock has a market cap of $47.79 billion, a P/E ratio of 31.41, a P/E/G ratio of 2.54 and a beta of 0.45.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%.The business had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. Keurig Dr Pepper's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, June 27th. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 82.14%.

Wall Street Analysts Forecast Growth

KDP has been the subject of a number of recent analyst reports. Hsbc Global Res raised Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Barclays raised their target price on Keurig Dr Pepper from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, July 28th. HSBC raised Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price target for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Keurig Dr Pepper has a consensus rating of "Moderate Buy" and an average price target of $39.77.

Insiders Place Their Bets

In other news, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $32.92, for a total value of $395,040.00. Following the transaction, the insider owned 118,511 shares of the company's stock, valued at approximately $3,901,382.12. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the completion of the transaction, the director directly owned 2,292,169 shares in the company, valued at approximately $75,412,360.10. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 672,000 shares of company stock worth $22,235,760 in the last quarter. 1.00% of the stock is owned by company insiders.

Keurig Dr Pepper Company Profile

Keurig Dr Pepper Inc owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally. It operates through three segments: U.S. Refreshment Beverages, U.S. Coffee, and International. The U.S. Refreshment Beverages segment manufactures and distributes branded concentrates, syrup, and finished beverages.