The Manufacturers Life Insurance Company Has $18.62 Million Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• The Manufacturers Life Insurance Company reduced its Keurig Dr Pepper stake by 9.9% in the first quarter, selling 78,038 shares and retaining 707,085 shares valued at $18.62 million. Institutional investors collectively own 93.99% of KDP.
• KDP shares opened at $31.12, while the company maintains a 3.0% dividend yield through its quarterly $0.23-per-share payout. Its annualized dividend is $0.92, with a 68.15% payout ratio.
• Analysts are moderately positive, with eight Buy ratings and nine Hold ratings; the stock has an average rating of Hold and an average price target of $33.40, though recent targets range as high as $39.

The Manufacturers Life Insurance Company cut its position in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 707,085 shares of the company's stock after selling 78,038 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Keurig Dr Pepper worth $18,618,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. bought a new position in shares of Keurig Dr Pepper during the fourth quarter worth about $727,667,000. Norges Bank acquired a new position in shares of Keurig Dr Pepper during the fourth quarter valued at about $568,361,000. Capital International Investors boosted its holdings in Keurig Dr Pepper by 1,987.4% in the fourth quarter. Capital International Investors now owns 16,858,031 shares of the company's stock worth $472,193,000 after acquiring an additional 16,050,437 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Keurig Dr Pepper by 37.0% in the 4th quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock worth $1,596,664,000 after purchasing an additional 15,393,753 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Keurig Dr Pepper by 285.3% in the fourth quarter. AQR Capital Management LLC now owns 11,636,027 shares of the company's stock valued at $325,925,000 after buying an additional 8,615,869 shares in the last quarter. Institutional investors own 93.99% of the company's stock.

Keurig Dr Pepper Stock Down 1.4%

Shares of NASDAQ:KDP opened at $31.12 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.12 and a current ratio of 2.31. The firm has a market capitalization of $42.34 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.42 and a beta of 0.40. The firm has a fifty day moving average of $31.10 and a 200 day moving average of $29.03. Keurig Dr Pepper, Inc has a 52-week low of $24.88 and a 52-week high of $35.94.

Keurig Dr Pepper Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 26th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, June 26th. Keurig Dr Pepper's dividend payout ratio (DPR) is presently 68.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KDP shares. Evercore set a $30.00 target price on Keurig Dr Pepper in a report on Friday, April 24th. UBS Group boosted their target price on shares of Keurig Dr Pepper from $34.00 to $38.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Sanford C. Bernstein set a $39.00 price target on Keurig Dr Pepper in a research note on Wednesday, July 8th. Wells Fargo & Company set a $37.00 price objective on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Finally, Weiss Ratings upgraded Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Keurig Dr Pepper presently has an average rating of "Hold" and an average target price of $33.40.

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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