PNC Financial Services Group Inc. Has $6.72 Million Stock Holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP)

PNC Financial Services Group Inc. boosted its stake in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,496 shares of the company's stock after buying an additional 23,326 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Keurig Dr Pepper were worth $6,724,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Blueshift Asset Management LLC bought a new position in Keurig Dr Pepper in the 1st quarter worth approximately $1,264,000. Commerce Bank grew its stake in shares of Keurig Dr Pepper by 1.6% in the first quarter. Commerce Bank now owns 21,513 shares of the company's stock worth $736,000 after acquiring an additional 340 shares during the last quarter. Hartford Investment Management Co. increased its position in Keurig Dr Pepper by 5.1% during the first quarter. Hartford Investment Management Co. now owns 73,016 shares of the company's stock worth $2,499,000 after acquiring an additional 3,542 shares during the period. Jefferies Financial Group Inc. increased its position in Keurig Dr Pepper by 3,654.9% during the first quarter. Jefferies Financial Group Inc. now owns 352,738 shares of the company's stock worth $12,071,000 after acquiring an additional 343,344 shares during the period. Finally, US Bancorp DE boosted its holdings in Keurig Dr Pepper by 3.4% in the 1st quarter. US Bancorp DE now owns 64,433 shares of the company's stock valued at $2,205,000 after purchasing an additional 2,092 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Keurig Dr Pepper Price Performance

KDP stock traded up $0.52 during trading on Friday, hitting $34.42. 6,662,959 shares of the stock traded hands, compared to its average volume of 12,149,548. The stock has a market cap of $46.76 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 2.44 and a beta of 0.45. Keurig Dr Pepper, Inc has a one year low of $30.12 and a one year high of $38.28. 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 company has a 50 day simple moving average of $33.30 and a 200 day simple moving average of $33.39.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $4.16 billion during 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 company's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Equities analysts expect that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 27th were paid a $0.23 dividend. 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 currently 82.14%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $32.92, for a total transaction of $395,040.00. Following the sale, the insider owned 118,511 shares of the company's stock, valued at $3,901,382.12. This represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director De Ven Michael G. Van bought 15,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was bought at an average cost of $33.20 per share, with a total value of $498,000.00. Following the completion of the purchase, the director owned 15,000 shares of the company's stock, valued at approximately $498,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 672,000 shares of company stock valued at $22,235,760. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

KDP has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Hsbc Global Res raised 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. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Finally, HSBC raised Keurig Dr Pepper from a "hold" rating to a "buy" rating and raised their target price for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.77.

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.