Rakuten Investment Management Inc. Purchases 236,502 Shares of Keurig Dr Pepper, Inc $KDP

Key Points

• Rakuten Investment Management sharply increased its Keurig Dr Pepper stake in the fourth quarter, buying 236,502 additional shares and lifting its holdings to 249,169 shares worth about $7.0 million.
• Other major institutions also added to their positions, and institutional investors now own 93.99% of Keurig Dr Pepper’s stock.
• Analysts are mixed on the shares: the consensus rating is Hold with an average price target of $32, while the stock recently opened at $32.00 after reporting quarterly earnings that beat EPS estimates.

Rakuten Investment Management Inc. lifted its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 1,867.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 249,169 shares of the company's stock after purchasing an additional 236,502 shares during the quarter. Rakuten Investment Management Inc.'s holdings in Keurig Dr Pepper were worth $7,017,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Keurig Dr Pepper by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock valued at $4,508,456,000 after acquiring an additional 1,538,456 shares in the last quarter. State Street Corp grew its stake in shares of Keurig Dr Pepper by 1.6% during the third quarter. State Street Corp now owns 64,594,706 shares of the company's stock valued at $1,662,361,000 after purchasing an additional 986,700 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Keurig Dr Pepper by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock valued at $887,021,000 after purchasing an additional 1,187,457 shares during the last quarter. Morgan Stanley grew its stake in shares of Keurig Dr Pepper by 3.0% during the fourth quarter. Morgan Stanley now owns 25,357,596 shares of the company's stock valued at $710,266,000 after purchasing an additional 730,864 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Keurig Dr Pepper by 3.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,247,485 shares of the company's stock valued at $595,142,000 after purchasing an additional 688,519 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings raised shares of Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Zacks Research cut shares of Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. BNP Paribas Exane raised shares of Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 price target on the stock in a research note on Wednesday, April 22nd. Citigroup decreased their price target on shares of Keurig Dr Pepper from $37.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Keurig Dr Pepper from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, April 24th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, Keurig Dr Pepper has an average rating of "Hold" and a consensus target price of $32.00.

Keurig Dr Pepper Stock Performance

Shares of NASDAQ:KDP opened at $32.00 on Wednesday. The company has a market capitalization of $43.54 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 1.45 and a beta of 0.41. The firm's 50 day simple moving average is $28.79 and its 200 day simple moving average is $28.32. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.31 and a quick ratio of 2.12. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $35.94.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $7.23 billion. Keurig Dr Pepper had a net margin of 10.81% and a return on equity of 10.51%. Keurig Dr Pepper's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. As a group, sell-side analysts forecast that Keurig Dr Pepper, Inc will post 2.29 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be 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 is Friday, June 26th. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 68.15%.

Keurig Dr Pepper 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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