Victory Capital Management Inc. Increases Stock Position in Keurig Dr Pepper, Inc (NASDAQ:KDP)

Victory Capital Management Inc. increased its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 14.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,706,015 shares of the company's stock after purchasing an additional 480,148 shares during the period. Victory Capital Management Inc. owned approximately 0.27% of Keurig Dr Pepper worth $126,820,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KDP. China Universal Asset Management Co. Ltd. grew its position in shares of Keurig Dr Pepper by 51.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 33,510 shares of the company's stock valued at $1,154,000 after acquiring an additional 11,435 shares during the period. Praxis Investment Management Inc. grew its position in shares of Keurig Dr Pepper by 112.2% in the 1st quarter. Praxis Investment Management Inc. now owns 19,630 shares of the company's stock valued at $672,000 after acquiring an additional 10,380 shares during the period. Aspire Private Capital LLC bought a new position in shares of Keurig Dr Pepper in the 1st quarter valued at about $1,177,000. Envestnet Asset Management Inc. grew its position in shares of Keurig Dr Pepper by 13.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,823,185 shares of the company's stock valued at $96,609,000 after acquiring an additional 339,530 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Keurig Dr Pepper in the 1st quarter valued at about $4,091,000. 93.99% of the stock is owned by institutional investors.

Insider Transactions at Keurig Dr Pepper

In other Keurig Dr Pepper news, Director Robert James Gamgort sold 208,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $33.10, for a total value of $6,884,800.00. Following the sale, the director directly owned 2,638,490 shares in the company, valued at $87,334,019. The trade was a 7.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director De Ven Michael G. Van bought 15,000 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were acquired at an average price of $33.20 per share, with a total value of $498,000.00. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $498,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 686,500 shares of company stock valued at $23,153,640. Corporate insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of Keurig Dr Pepper from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Thursday. Morgan Stanley upgraded shares of Keurig Dr Pepper from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $38.00 to $40.00 in a research note on Tuesday, April 1st. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $36.00 to $42.00 in a research note on Friday, April 25th. Finally, Piper Sandler upgraded shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $35.00 to $40.00 in a research note on Wednesday, April 9th. 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 has a consensus rating of "Moderate Buy" and an average target price of $39.62.

Keurig Dr Pepper Stock Up 2.0%

Shares of Keurig Dr Pepper stock traded up $0.68 during trading on Thursday, reaching $33.89. 7,942,516 shares of the company traded hands, compared to its average volume of 10,970,138. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.47 and a quick ratio of 0.31. Keurig Dr Pepper, Inc has a 1-year low of $30.12 and a 1-year high of $38.28. The company has a 50 day moving average price of $33.26 and a 200-day moving average price of $33.16. The firm has a market capitalization of $46.03 billion, a PE ratio of 30.81, a P/E/G ratio of 2.56 and a beta of 0.47.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 9.69% and a return on equity of 10.86%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts expect that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current fiscal year.

Keurig Dr Pepper Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.71%. Keurig Dr Pepper's payout ratio is presently 83.64%.

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.