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Keurig Dr Pepper, Inc (NASDAQ:KDP) Stake Increased by Charles Schwab Investment Management Inc.

Keurig Dr Pepper logo with Consumer Staples background

Key Points

  • Charles Schwab Investment Management Inc. increased its stake in Keurig Dr Pepper by 8.0% in Q1, now owning approximately 7.14 million shares valued at about $244 million.
  • Several hedge funds significantly modified their holdings, with Oppenheimer Asset Management increasing its stake by a remarkable 656.1%.
  • Keurig Dr Pepper's stock received several positive ratings upgrades, leading to a consensus target price of $39.77 as analysts maintain a "Moderate Buy" stance.
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Charles Schwab Investment Management Inc. grew its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,139,382 shares of the company's stock after purchasing an additional 530,753 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.53% of Keurig Dr Pepper worth $244,310,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of KDP. China Universal Asset Management Co. Ltd. raised its holdings in shares of Keurig Dr Pepper by 51.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company's stock worth $1,154,000 after acquiring an additional 11,435 shares in the last quarter. Praxis Investment Management Inc. raised its holdings in shares of Keurig Dr Pepper by 112.2% during the first quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company's stock worth $672,000 after acquiring an additional 10,380 shares in the last quarter. Aspire Private Capital LLC purchased a new stake in shares of Keurig Dr Pepper during the first quarter worth $1,177,000. Envestnet Asset Management Inc. raised its holdings in shares of Keurig Dr Pepper by 13.7% during the first quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company's stock worth $96,609,000 after acquiring an additional 339,530 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Keurig Dr Pepper by 656.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 205,556 shares of the company's stock worth $7,034,000 after acquiring an additional 178,368 shares in the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Insider Buying and Selling

In related news, Director Robert James Gamgort sold 208,000 shares of Keurig Dr Pepper stock in a transaction dated 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 sale, the director directly owned 2,292,169 shares of the company's stock, valued at $75,412,360.10. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director De Ven Michael G. Van bought 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were purchased at an average cost of $33.20 per share, for a total transaction of $498,000.00. Following the completion of the transaction, the director owned 15,000 shares of the company's stock, valued at $498,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 672,000 shares of company stock valued at $22,235,760 over the last three months. 0.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KDP. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their price objective for the stock from $36.00 to $42.00 in a report on Friday, April 25th. UBS Group lowered their target price on shares of Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. JPMorgan Chase & Co. lowered their target price on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. Barclays increased their target price on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Hsbc Global Res raised shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $39.77.

View Our Latest Research Report on KDP

Keurig Dr Pepper Trading Up 1.5%

Shares of NASDAQ:KDP opened at $34.42 on Friday. The company has a market cap of $46.76 billion, a P/E ratio of 30.73, a P/E/G ratio of 2.51 and a beta of 0.45. The stock's 50-day moving average is $33.31 and its 200-day moving average is $33.43. Keurig Dr Pepper, Inc has a 52-week low of $30.12 and a 52-week high of $38.28. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.40 and a current ratio of 0.64.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.14 billion. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%. The firm's revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Equities research analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.7%. Keurig Dr Pepper's dividend payout ratio (DPR) is 82.14%.

About Keurig Dr Pepper

(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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Institutional Ownership by Quarter for Keurig Dr Pepper (NASDAQ:KDP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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