Voloridge Investment Management LLC Buys Shares of 448,497 Keurig Dr Pepper Inc. (NASDAQ:KDP)

Voloridge Investment Management LLC bought a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 448,497 shares of the company's stock, valued at approximately $14,406,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Keurig Dr Pepper by 8.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company's stock worth $100,796,000 after buying an additional 242,315 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Keurig Dr Pepper by 53.1% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 325,398 shares of the company's stock worth $10,400,000 after acquiring an additional 112,819 shares during the period. Swedbank AB raised its position in Keurig Dr Pepper by 1.8% in the fourth quarter. Swedbank AB now owns 747,002 shares of the company's stock worth $23,994,000 after acquiring an additional 13,179 shares during the period. RWC Asset Management LLP boosted its stake in shares of Keurig Dr Pepper by 34.6% during the 4th quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company's stock worth $49,885,000 after acquiring an additional 398,916 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Keurig Dr Pepper during the 4th quarter valued at $400,000. 93.99% of the stock is owned by institutional investors.

Keurig Dr Pepper Trading Down 0.4%

KDP traded down $0.14 on Wednesday, reaching $32.73. 7,283,470 shares of the company traded hands, compared to its average volume of 10,600,112. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. The company has a market cap of $44.45 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. The firm has a fifty day simple moving average of $34.20 and a two-hundred day simple moving average of $33.03. Keurig Dr Pepper Inc. has a one year low of $30.12 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The company had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same period in the prior year, the business earned $0.38 EPS. The firm's quarterly 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 year.

Keurig Dr Pepper Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, June 27th. Keurig Dr Pepper's dividend payout ratio (DPR) is currently 83.64%.

Analyst Ratings Changes

KDP has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Keurig Dr Pepper from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Argus assumed coverage on Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a "buy" rating and a $40.00 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $42.00 price objective on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Finally, Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $35.00 to $40.00 in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and an average price target of $39.33.

Insider Activity at Keurig Dr Pepper

In related news, VP Angela A. Stephens sold 7,350 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the completion of the transaction, the vice president now directly owns 74,587 shares of the company's stock, valued at $2,548,637.79. This trade represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mary Beth Denooyer sold 12,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.05, for a total value of $408,600.00. Following the completion of the sale, the insider now owns 187,537 shares in the company, valued at $6,385,634.85. The trade was a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 913,850 shares of company stock valued at $31,235,950 over the last quarter. 0.40% of the stock is owned by corporate insiders.

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.