Vanguard Group Inc. boosted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,012,806 shares of the company's stock after buying an additional 25,425,644 shares during the quarter. Vanguard Group Inc. owned approximately 10.68% of Keurig Dr Pepper worth $4,962,338,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. iA Global Asset Management Inc. boosted its stake in Keurig Dr Pepper by 2.1% in the first quarter. iA Global Asset Management Inc. now owns 149,348 shares of the company's stock worth $5,111,000 after purchasing an additional 3,143 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Keurig Dr Pepper by 33.4% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 7,257 shares of the company's stock worth $248,000 after purchasing an additional 1,817 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in Keurig Dr Pepper by 2.2% in the first quarter. Atria Wealth Solutions Inc. now owns 122,105 shares of the company's stock worth $4,206,000 after purchasing an additional 2,618 shares in the last quarter. Costello Asset Management INC acquired a new position in Keurig Dr Pepper in the first quarter worth $74,000. Finally, New Age Alpha Advisors LLC boosted its stake in Keurig Dr Pepper by 9,599.5% in the first quarter. New Age Alpha Advisors LLC now owns 83,319 shares of the company's stock worth $2,851,000 after purchasing an additional 82,460 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.
Keurig Dr Pepper Trading Up 1.5%
NASDAQ KDP traded up $0.52 on Friday, reaching $34.42. The company had a trading volume of 6,662,959 shares, compared to its average volume of 10,135,060. The stock's 50 day moving average is $33.31 and its 200-day moving average is $33.43. The stock has a market cap of $46.76 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.51 and a beta of 0.45. The company has a quick ratio of 0.40, a current ratio of 0.64 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.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the company earned $0.45 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.
Keurig Dr Pepper Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper's dividend payout ratio is 82.14%.
Analysts Set New Price Targets
A number of research firms have commented on KDP. Barclays boosted their price objective on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Hsbc Global Res raised Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 target price on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. UBS Group dropped their target price on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. dropped their target price on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.77.
View Our Latest Report on Keurig Dr Pepper
Insiders Place Their Bets
In other news, Director De Ven Michael G. Van acquired 15,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, June 4th. The stock was bought at an average cost of $33.20 per share, with a total value of $498,000.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $498,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Friday, August 1st. The stock was sold at an average price of $32.90, for a total value of $6,843,200.00. Following the transaction, the director directly owned 2,292,169 shares of the company's stock, valued at $75,412,360.10. This represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 672,000 shares of company stock worth $22,235,760 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.
Keurig Dr Pepper Company Profile
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Free Report)
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.
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