LPL Financial LLC Increases Stake in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• LPL Financial LLC increased its stake in Keurig Dr Pepper, Inc. by 27.7%, owning 355,467 shares valued at $12.16 million as of the end of the first quarter.
• Several institutional investors, including Peapack Gladstone Financial Corp and APG Asset Management N.V., also boosted their stakes in Keurig Dr Pepper significantly during the fourth quarter.
• Keurig Dr Pepper recently declared a quarterly dividend of $0.23 per share, reflecting an annualized yield of 2.7% and a dividend payout ratio of 82.14%.

LPL Financial LLC increased its position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 355,467 shares of the company's stock after buying an additional 77,104 shares during the period. LPL Financial LLC's holdings in Keurig Dr Pepper were worth $12,164,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in KDP. Peapack Gladstone Financial Corp boosted its position in Keurig Dr Pepper by 11.3% during the fourth quarter. Peapack Gladstone Financial Corp now owns 10,035 shares of the company's stock valued at $322,000 after purchasing an additional 1,016 shares in the last quarter. Bank of Montreal Can boosted its position in Keurig Dr Pepper by 5.4% during the fourth quarter. Bank of Montreal Can now owns 1,332,954 shares of the company's stock valued at $42,814,000 after purchasing an additional 68,732 shares in the last quarter. Advisory Services Network LLC boosted its position in Keurig Dr Pepper by 98.5% during the fourth quarter. Advisory Services Network LLC now owns 64,730 shares of the company's stock valued at $2,079,000 after purchasing an additional 32,114 shares in the last quarter. APG Asset Management N.V. boosted its holdings in Keurig Dr Pepper by 205.4% in the fourth quarter. APG Asset Management N.V. now owns 865,200 shares of the company's stock worth $26,837,000 after acquiring an additional 581,900 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Keurig Dr Pepper by 14.2% in the fourth quarter. Bessemer Group Inc. now owns 11,100 shares of the company's stock worth $356,000 after acquiring an additional 1,378 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KDP. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, April 22nd. Hsbc Global Res raised Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Argus began coverage on Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a "buy" rating and a $40.00 price target for the company. Barclays raised their price target on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. decreased their target price on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.77.

Insider Activity at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director De Ven Michael G. Van acquired 15,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was acquired 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 directly owned 15,000 shares of the company's stock, valued at $498,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider owned 118,511 shares of the company's stock, valued at $3,901,382.12. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 672,000 shares of company stock worth $22,235,760. 0.40% of the stock is owned by corporate insiders.

Keurig Dr Pepper Stock Up 1.5%

Shares of KDP stock opened at $33.90 on Friday. The stock has a 50 day moving average of $33.30 and a 200 day moving average of $33.39. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. The stock has a market cap of $46.05 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.44 and a beta of 0.45. Keurig Dr Pepper, Inc has a twelve month low of $30.12 and a twelve month 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 for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $4.16 billion during the quarter, compared to analysts' expectations of $4.14 billion. Keurig Dr Pepper had a return on equity of 11.05% and a net margin of 9.75%. Keurig Dr Pepper's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.45 earnings per share. As a group, sell-side analysts expect that Keurig Dr Pepper, Inc will post 1.92 EPS for the current year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared 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. This represents a $0.92 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 82.14%.

Keurig Dr Pepper 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.

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