Keurig Dr Pepper, Inc (NASDAQ:KDP) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Keurig Dr Pepper by 17.9%, holding over 2.2 million shares valued at approximately $77 million.
• Several institutional investors including Vanguard Group Inc. and Price T Rowe Associates Inc. significantly raised their positions in the company, indicating strong institutional confidence in KDP.
• HSBC upgraded Keurig Dr Pepper from a "hold" to a "buy" rating, setting a new price objective of $42.00, reflecting analysts' optimism for the stock's future performance.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 17.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,259,322 shares of the company's stock after acquiring an additional 342,767 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Keurig Dr Pepper worth $77,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Keurig Dr Pepper by 21.3% in the 1st quarter. Vanguard Group Inc. now owns 145,012,806 shares of the company's stock worth $4,962,338,000 after purchasing an additional 25,425,644 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Keurig Dr Pepper by 36.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock worth $1,755,564,000 after purchasing an additional 14,473,054 shares during the last quarter. Northern Trust Corp raised its position in shares of Keurig Dr Pepper by 20.6% in the 4th quarter. Northern Trust Corp now owns 13,598,633 shares of the company's stock worth $436,788,000 after purchasing an additional 2,320,614 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 worth $318,836,000 after purchasing an additional 1,548,622 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Keurig Dr Pepper by 15.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,260,957 shares of the company's stock worth $297,462,000 after purchasing an additional 1,258,062 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on KDP. Hsbc Global Res upgraded Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Barclays lifted their price objective on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. HSBC upgraded Keurig Dr Pepper from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $36.00 to $42.00 in a report on Friday, April 25th. Argus began coverage on Keurig Dr Pepper in a research note on Wednesday, April 16th. They set a "buy" rating and a $40.00 price target for the company. Finally, UBS Group cut their price target on Keurig Dr Pepper from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Keurig Dr Pepper has an average rating of "Moderate Buy" and an average target price of $39.77.

Insiders Place Their Bets

In other news, Director De Ven Michael G. Van acquired 15,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were purchased at an average price of $33.20 per share, for a total transaction of $498,000.00. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the business's stock in a transaction 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 in the company, valued at $3,901,382.12. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 672,000 shares of company stock valued at $22,235,760. Insiders own 0.40% of the company's stock.

Keurig Dr Pepper Stock Performance

KDP stock traded up $0.20 during trading on Monday, hitting $34.62. 9,194,106 shares of the company traded hands, compared to its average volume of 12,129,976. The stock's 50-day simple moving average is $33.31 and its 200 day simple moving average is $33.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40. The company has a market cap of $47.03 billion, a PE ratio of 30.91, a P/E/G ratio of 2.51 and a beta of 0.45. Keurig Dr Pepper, Inc has a 1 year low of $30.12 and a 1 year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.49 EPS for the quarter, meeting analysts' consensus estimates of $0.49. The business 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%. The business's revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 earnings per share. On average, equities analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid 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 payout ratio is 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.