Bank of New York Mellon Corp Has $258.75 Million Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Bank of New York Mellon Corp lifted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,561,219 shares of the company's stock after buying an additional 256,450 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of Keurig Dr Pepper worth $258,745,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Keurig Dr Pepper by 23.6% during the 4th quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock worth $3,841,140,000 after acquiring an additional 22,856,757 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Keurig Dr Pepper by 10.3% in the 4th quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company's stock valued at $1,946,561,000 after acquiring an additional 5,646,179 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $1,755,564,000 after acquiring an additional 14,473,054 shares during the period. Geode Capital Management LLC increased its stake in shares of Keurig Dr Pepper by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 24,511,039 shares of the company's stock worth $784,974,000 after acquiring an additional 1,962,195 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Keurig Dr Pepper by 19.6% in the 4th quarter. Invesco Ltd. now owns 21,605,610 shares of the company's stock valued at $693,972,000 after purchasing an additional 3,539,463 shares during the period. Hedge funds and other institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Up 0.7%

Shares of KDP traded up $0.25 during midday trading on Tuesday, reaching $34.03. 10,801,005 shares of the stock were exchanged, compared to its average volume of 10,928,569. Keurig Dr Pepper, Inc has a 12-month low of $30.12 and a 12-month high of $38.28. The firm has a 50 day simple moving average of $33.38 and a 200-day simple moving average of $33.12. The company has a quick ratio of 0.31, a current ratio of 0.47 and a debt-to-equity ratio of 0.49. The company has a market cap of $46.22 billion, a price-to-earnings ratio of 30.94, a P/E/G ratio of 2.60 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. Keurig Dr Pepper had a return on equity of 10.86% and a net margin of 9.69%. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $0.38 EPS. The company's revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.23 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.70%. Keurig Dr Pepper's payout ratio is 83.64%.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 14,500 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total transaction of $496,480.00. Following the transaction, the vice president directly owned 62,411 shares in the company, valued at approximately $2,136,952.64. The trade was a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $33.10, for a total value of $6,884,800.00. Following the completion of the sale, the director owned 2,638,490 shares in the company, valued at approximately $87,334,019. This trade represents a 7.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 698,500 shares of company stock valued at $23,580,720 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

KDP has been the topic of several research reports. Morgan Stanley upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $38.00 to $40.00 in a research report on Tuesday, April 1st. Argus assumed coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a "buy" rating and a $40.00 price target on the stock. Piper Sandler upgraded shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $35.00 to $40.00 in a report on Wednesday, April 9th. UBS Group boosted their price objective on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of Keurig Dr Pepper in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Keurig Dr Pepper has an average rating of "Moderate Buy" and a consensus target price of $39.92.

About Keurig Dr Pepper

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.