Lazard Asset Management LLC Purchases 63,123 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Lazard Asset Management increased its Keurig Dr Pepper stake by 9.9%, purchasing 63,123 additional shares to hold 702,373 shares valued at approximately $18.5 million. Institutional investors collectively own 93.99% of KDP.
• Analyst sentiment is mixed: Barclays and JPMorgan upgraded the stock to “overweight,” while the broader analyst consensus remains “Hold,” with an average price target of $33.40.
• KDP shares opened at $31.45, near their 50-day average of $31.01, while the company maintains a quarterly dividend of $0.23 per share, equivalent to a 2.9% annual yield.

Lazard Asset Management LLC lifted its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 702,373 shares of the company's stock after purchasing an additional 63,123 shares during the period. Lazard Asset Management LLC owned 0.05% of Keurig Dr Pepper worth $18,493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KDP. Salomon & Ludwin LLC acquired a new stake in Keurig Dr Pepper in the 4th quarter valued at about $26,000. Meeder Asset Management Inc. increased its position in Keurig Dr Pepper by 358.0% during the first quarter. Meeder Asset Management Inc. now owns 971 shares of the company's stock worth $26,000 after buying an additional 759 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Keurig Dr Pepper by 102,300.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,024 shares of the company's stock valued at $34,000 after buying an additional 1,023 shares during the period. Rossby Financial LCC raised its stake in Keurig Dr Pepper by 45.1% in the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock valued at $31,000 after buying an additional 339 shares during the period. Finally, Activest Wealth Management lifted its position in shares of Keurig Dr Pepper by 5,642.1% in the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company's stock valued at $31,000 after buying an additional 1,072 shares during the last quarter. 93.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KDP has been the subject of several research analyst reports. Barclays upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $30.00 to $36.00 in a research note on Thursday, June 25th. Evercore set a $30.00 price target on Keurig Dr Pepper in a report on Friday, April 24th. Sanford C. Bernstein set a $39.00 price objective on shares of Keurig Dr Pepper in a research report on Wednesday, July 8th. Wells Fargo & Company set a $37.00 price objective on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Keurig Dr Pepper from $33.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $33.40.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ KDP opened at $31.45 on Thursday. 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 stock's fifty day moving average price is $31.01 and its two-hundred day moving average price is $28.99. Keurig Dr Pepper, Inc has a one year low of $24.88 and a one year high of $35.94. The firm has a market cap of $42.79 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.42 and a beta of 0.40.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, June 26th. Keurig Dr Pepper's payout ratio is presently 68.15%.

Keurig Dr Pepper Company 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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