Royal Bank of Canada Grows Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• Royal Bank of Canada increased its Keurig Dr Pepper stake by 8.6% in the first quarter, adding 186,373 shares for a total holding of 2.34 million shares valued at approximately $61.7 million.
• Institutional investors own nearly 94% of KDP’s outstanding stock, while analysts maintain a consensus “Hold” rating with an average price target of $33.40.
• Keurig Dr Pepper shares opened at $31.12, and the company recently paid a quarterly dividend of $0.23 per share, representing a 3.0% annualized yield.

Royal Bank of Canada lifted its stake in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 8.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,344,606 shares of the company's stock after buying an additional 186,373 shares during the quarter. Royal Bank of Canada owned approximately 0.17% of Keurig Dr Pepper worth $61,734,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in shares of Keurig Dr Pepper in the 4th quarter worth about $26,000. Meeder Asset Management Inc. lifted its position in shares of Keurig Dr Pepper by 358.0% during the first quarter. Meeder Asset Management Inc. now owns 971 shares of the company's stock worth $26,000 after purchasing an additional 759 shares during the last quarter. Activest Wealth Management lifted its position in shares of Keurig Dr Pepper by 5,642.1% during the fourth quarter. Activest Wealth Management now owns 1,091 shares of the company's stock worth $31,000 after purchasing an additional 1,072 shares during the last quarter. Washington Trust Advisors Inc. acquired a new position in Keurig Dr Pepper in the fourth quarter worth about $31,000. Finally, Rossby Financial LCC grew its stake in Keurig Dr Pepper by 45.1% in the fourth quarter. Rossby Financial LCC now owns 1,090 shares of the company's stock worth $31,000 after purchasing an additional 339 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on KDP shares. Sanford C. Bernstein set a $39.00 price objective on Keurig Dr Pepper in a research note on Wednesday, July 8th. BNP Paribas Exane raised Keurig Dr Pepper from an "underperform" rating to a "neutral" rating and set a $28.00 target price on the stock in a report on Wednesday, April 22nd. Citigroup lifted their target price on Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Barclays upgraded Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $30.00 to $36.00 in a report on Thursday, June 25th. Finally, Zacks Research lowered Keurig Dr Pepper from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $33.40.

Keurig Dr Pepper Price Performance

Shares of NASDAQ:KDP opened at $31.12 on Friday. The company has a market cap of $42.34 billion, a PE ratio of 23.05, a P/E/G ratio of 1.42 and a beta of 0.40. Keurig Dr Pepper, Inc has a fifty-two week low of $24.88 and a fifty-two week high of $35.94. The firm has a 50-day simple moving average of $31.10 and a 200 day simple moving average of $29.03. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72.

Keurig Dr Pepper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 26th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.0%. Keurig Dr Pepper's dividend payout ratio is 68.15%.

About Keurig Dr Pepper

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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