Resona Asset Management Co. Ltd. Increases Holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Key Points

• Resona Asset Management increased its stake in Keurig Dr Pepper by 8.9%, now owning 453,604 shares valued at approximately $15.49 million after acquiring an additional 37,114 shares.
• The company's recent quarterly earnings report showed a revenue increase of 6.1% year-over-year, alongside earnings per share that met analysts' expectations at $0.49.
• Keurig Dr Pepper announced a quarterly dividend of $0.23 per share, with a current annualized yield of 2.6% and a payout ratio of 82.14%.

Resona Asset Management Co. Ltd. raised its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 8.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 453,604 shares of the company's stock after acquiring an additional 37,114 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Keurig Dr Pepper were worth $15,492,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new stake in Keurig Dr Pepper in the first quarter valued at $27,000. Continuum Advisory LLC increased its position in shares of Keurig Dr Pepper by 82.5% in the first quarter. Continuum Advisory LLC now owns 1,332 shares of the company's stock worth $46,000 after acquiring an additional 602 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Keurig Dr Pepper in the first quarter worth approximately $48,000. LRI Investments LLC lifted its holdings in shares of Keurig Dr Pepper by 65.6% during the 4th quarter. LRI Investments LLC now owns 1,527 shares of the company's stock valued at $49,000 after buying an additional 605 shares during the last quarter. Finally, Riverview Trust Co boosted its position in Keurig Dr Pepper by 47.7% during the first quarter. Riverview Trust Co now owns 1,710 shares of the company's stock worth $59,000 after purchasing an additional 552 shares during the period. Institutional investors and hedge funds own 93.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KDP shares. JPMorgan Chase & Co. cut their target price on Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Barclays raised their target price on Keurig Dr Pepper from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. UBS Group reduced 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. Hsbc Global Res raised Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, HSBC raised Keurig Dr Pepper from a "hold" rating to a "buy" rating and lifted their target price for the company 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 company. According to data from MarketBeat.com, the company 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 purchased 15,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were acquired at an average cost of $33.20 per share, with a total value of $498,000.00. Following the completion of the acquisition, the director directly owned 15,000 shares in the company, valued at $498,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $32.92, for a total value of $395,040.00. Following the completion of the sale, the insider directly owned 118,511 shares in the company, 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 three months, insiders have sold 672,000 shares of company stock worth $22,235,760. Corporate insiders own 0.40% of the company's stock.

Keurig Dr Pepper Trading Up 0.4%

NASDAQ KDP traded up $0.15 on Friday, hitting $34.78. The company's stock had a trading volume of 6,246,850 shares, compared to its average volume of 9,794,757. Keurig Dr Pepper, Inc has a 52-week low of $30.12 and a 52-week high of $38.28. The firm has a market cap of $47.25 billion, a P/E ratio of 31.05, a PEG ratio of 2.54 and a beta of 0.45. The company's 50-day simple moving average is $33.50 and its 200 day simple moving average is $33.54. 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 (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, meeting analysts' consensus estimates 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 return on equity of 11.05% and a net margin of 9.75%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.45 EPS. Research analysts predict that Keurig Dr Pepper, Inc will post 1.92 EPS for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The business also recently announced 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. The ex-dividend date was Friday, June 27th. This represents a $0.92 annualized dividend and a yield of 2.6%. 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.