Mackenzie Financial Corp Has $13.78 Million Stake in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• Mackenzie Financial Corp increased its holdings in Keurig Dr Pepper by 6.2%, acquiring an additional 23,619 shares, bringing their total to 402,554 shares valued at approximately $13.78 million.
• Institutional investors significantly boosted their stakes in Keurig Dr Pepper, with Price T Rowe Associates Inc. MD increasing its stake by 36% in the last quarter, now owning over 54 million shares worth nearly $1.76 billion.
• Analysts have a consensus rating of “Moderate Buy” for Keurig Dr Pepper, with a target price averaging $39.77, following various upgrades in ratings and target prices from multiple firms.

Mackenzie Financial Corp boosted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 402,554 shares of the company's stock after buying an additional 23,619 shares during the period. Mackenzie Financial Corp's holdings in Keurig Dr Pepper were worth $13,775,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KDP. Price T Rowe Associates Inc. MD grew its holdings in Keurig Dr Pepper by 36.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock valued at $1,755,564,000 after buying an additional 14,473,054 shares during the last quarter. Invesco Ltd. raised its position in shares of Keurig Dr Pepper by 19.6% in the fourth quarter. Invesco Ltd. now owns 21,605,610 shares of the company's stock valued at $693,972,000 after buying an additional 3,539,463 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Keurig Dr Pepper by 20.6% during the fourth quarter. Northern Trust Corp now owns 13,598,633 shares of the company's stock valued at $436,788,000 after buying an additional 2,320,614 shares during the period. Geode Capital Management LLC grew its stake in Keurig Dr Pepper by 8.7% in the 4th 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, Dimensional Fund Advisors LP raised its holdings in Keurig Dr Pepper by 18.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,926,645 shares of the company's stock valued at $318,836,000 after acquiring an additional 1,548,622 shares during the last quarter. 93.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KDP shares. Argus started coverage on shares of Keurig Dr Pepper in a report on Wednesday, April 16th. They issued a "buy" rating and a $40.00 target price for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $42.00 target price on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. HSBC raised Keurig Dr Pepper from a "hold" rating to a "buy" rating and boosted their price target for the company from $36.00 to $42.00 in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on 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. Finally, UBS Group dropped their target price on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $39.77.

Keurig Dr Pepper Trading Up 2.1%

Shares of KDP stock traded up $0.67 on Friday, hitting $33.32. The stock had a trading volume of 11,675,843 shares, compared to its average volume of 10,397,284. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 0.56. Keurig Dr Pepper, Inc has a twelve month low of $30.12 and a twelve month high of $38.28. The company has a fifty day moving average price of $33.25 and a two-hundred day moving average price of $33.32. The firm has a market cap of $45.26 billion, a P/E ratio of 16.33, a PEG ratio of 2.38 and a beta of 0.45.

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 analysts' consensus estimates of $0.49. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.14 billion. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, June 27th. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 82.14%.

Insider Buying and Selling

In other news, VP Angela A. Stephens sold 14,500 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $34.24, for a total value of $496,480.00. Following the transaction, the vice president owned 62,411 shares of the company's stock, valued at approximately $2,136,952.64. This represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director De Ven Michael G. Van bought 15,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average cost of $33.20 per share, with a total value of $498,000.00. Following the acquisition, the director directly owned 15,000 shares of the company's stock, valued at approximately $498,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 490,500 shares of company stock valued at $16,298,360 in the last ninety days. 0.40% of the stock is owned by company insiders.

Keurig Dr Pepper Company 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.