Waverly Advisors LLC Has $3.91 Million Holdings in Keurig Dr Pepper, Inc $KDP

Key Points

• Waverly Advisors increased its Keurig Dr Pepper stake by 360.5% in the first quarter, purchasing 116,385 additional shares for a total holding of 148,670 shares valued at approximately $3.91 million.
• Institutional ownership remains high at 93.99%, with major investors including Vanguard, State Street, Wellington Management, and Geode Capital also increasing their positions.
• Analysts maintain a consensus “Hold” rating with an average price target of $33.40; KDP recently traded at $31.45 and pays a quarterly dividend of $0.23 per share, yielding about 2.9% annually.

Waverly Advisors LLC lifted its holdings in Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) by 360.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,670 shares of the company's stock after purchasing an additional 116,385 shares during the quarter. Waverly Advisors LLC's holdings in Keurig Dr Pepper were worth $3,914,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Keurig Dr Pepper by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 160,958,816 shares of the company's stock valued at $4,508,456,000 after buying an additional 1,538,456 shares during the last quarter. State Street Corp grew its holdings in shares of Keurig Dr Pepper by 1.6% in the 3rd quarter. State Street Corp now owns 64,594,706 shares of the company's stock valued at $1,662,361,000 after acquiring an additional 986,700 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Keurig Dr Pepper by 37.0% in the fourth quarter. Wellington Management Group LLP now owns 57,003,344 shares of the company's stock valued at $1,596,664,000 after acquiring an additional 15,393,753 shares during the last quarter. Geode Capital Management LLC raised its holdings in Keurig Dr Pepper by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 31,802,056 shares of the company's stock worth $887,021,000 after acquiring an additional 1,187,457 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Keurig Dr Pepper during the fourth quarter worth about $727,667,000. Institutional investors and hedge funds own 93.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings raised Keurig Dr Pepper from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. UBS Group increased their price objective on Keurig Dr Pepper from $34.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Evercore set a $30.00 target price on shares of Keurig Dr Pepper in a research note on Friday, April 24th. Wells Fargo & Company set a $37.00 target price on shares of Keurig Dr Pepper in a report on Wednesday, July 1st. Finally, Citigroup upped their price target on shares of Keurig Dr Pepper from $32.00 to $37.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Eight 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 stock presently has an average rating of "Hold" and a consensus price target of $33.40.

Keurig Dr Pepper Price Performance

Shares of NASDAQ KDP opened at $31.45 on Thursday. The company has a quick ratio of 2.12, a current ratio of 2.31 and a debt-to-equity ratio of 0.72. The business's 50 day moving average price is $31.01 and its two-hundred day moving average price is $28.99. The company has a market cap of $42.79 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.42 and a beta of 0.40. Keurig Dr Pepper, Inc has a twelve month low of $24.88 and a twelve month high of $35.94.

Keurig Dr Pepper Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors 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 dividend on an annualized basis and a dividend yield of 2.9%. Keurig Dr Pepper's payout ratio is presently 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.

Want to see what other hedge funds are holding KDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.