Woodline Partners LP acquired a new stake in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,612 shares of the company's stock, valued at approximately $2,172,000.
Several other institutional investors and hedge funds have also bought and sold shares of KDP. Vanguard Group Inc. increased its holdings in shares of Keurig Dr Pepper by 23.6% in the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock worth $3,841,140,000 after purchasing an additional 22,856,757 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Keurig Dr Pepper by 36.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,656,384 shares of the company's stock worth $1,755,564,000 after acquiring an additional 14,473,054 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Keurig Dr Pepper by 65.0% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 21,219,771 shares of the company's stock valued at $681,579,000 after acquiring an additional 8,363,192 shares in the last quarter. Norges Bank bought a new stake in shares of Keurig Dr Pepper during the 4th quarter valued at about $197,819,000. Finally, Wellington Management Group LLP grew its holdings in shares of Keurig Dr Pepper by 10.3% during the fourth quarter. Wellington Management Group LLP now owns 60,602,781 shares of the company's stock worth $1,946,561,000 after purchasing an additional 5,646,179 shares in the last quarter. 93.99% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have issued reports on KDP shares. 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. Barclays lifted their price objective on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. UBS Group raised their price target on Keurig Dr Pepper from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Piper Sandler upgraded Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $35.00 to $40.00 in a report on Wednesday, April 9th. Finally, Argus initiated coverage on Keurig Dr Pepper in a report on Wednesday, April 16th. They set a "buy" rating and a $40.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.33.
Get Our Latest Stock Analysis on Keurig Dr Pepper
Insider Activity at Keurig Dr Pepper
In other news, VP Angela A. Stephens sold 7,350 shares of Keurig Dr Pepper stock in a transaction dated Monday, March 3rd. The stock was 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 owns 74,587 shares of the company's stock, valued at $2,548,637.79. The trade was a 8.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of Keurig Dr Pepper stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $34.11, for a total transaction of $409,320.00. Following the completion of the transaction, the insider now directly owns 142,511 shares of the company's stock, valued at $4,861,050.21. This trade represents a 7.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 913,850 shares of company stock valued at $31,235,950 in the last three months. Company insiders own 0.40% of the company's stock.
Keurig Dr Pepper Trading Down 0.4%
Keurig Dr Pepper stock traded down $0.14 during mid-day trading on Wednesday, reaching $32.73. 7,288,016 shares of the company traded hands, compared to its average volume of 10,600,140. The firm's 50 day moving average price is $34.20 and its 200 day moving average price is $33.03. Keurig Dr Pepper Inc. has a 52-week low of $30.12 and a 52-week high of $38.28. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. The firm has a market capitalization of $44.45 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 2.42 and a beta of 0.52.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.42 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $0.38 earnings per share. Keurig Dr Pepper's quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts anticipate that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.
Keurig Dr Pepper Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.81%. Keurig Dr Pepper's payout ratio is 83.64%.
Keurig Dr Pepper Profile
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Free Report)
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.
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