Worldquant Millennium Advisors LLC purchased a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 200,947 shares of the company's stock, valued at approximately $6,454,000.
A number of other hedge funds also recently modified their holdings of KDP. Sumitomo Mitsui Trust Group Inc. raised its position in Keurig Dr Pepper by 8.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,138,111 shares of the company's stock worth $100,796,000 after purchasing an additional 242,315 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of 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 valued at $10,400,000 after buying an additional 112,819 shares during the period. Swedbank AB increased its stake in shares of Keurig Dr Pepper by 1.8% in the fourth quarter. Swedbank AB now owns 747,002 shares of the company's stock valued at $23,994,000 after buying an additional 13,179 shares during the period. RWC Asset Management LLP boosted its holdings in Keurig Dr Pepper by 34.6% in the fourth quarter. RWC Asset Management LLP now owns 1,553,095 shares of the company's stock valued at $49,885,000 after acquiring an additional 398,916 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Keurig Dr Pepper in the fourth quarter valued at approximately $400,000. Institutional investors and hedge funds own 93.99% of the company's stock.
Insiders Place Their Bets
In other Keurig Dr Pepper news, VP Angela A. Stephens sold 7,350 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $34.17, for a total transaction of $251,149.50. Following the transaction, the vice president now directly owns 74,587 shares in the company, valued at approximately $2,548,637.79. This trade represents a 8.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $35.59, for a total transaction of $427,080.00. Following the completion of the sale, the insider now owns 154,511 shares of the company's stock, valued at approximately $5,499,046.49. This represents a 7.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,863,850 shares of company stock valued at $2,772,203,450. Corporate insiders own 0.40% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on the company. Piper Sandler upgraded Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and upped their target price for the company from $35.00 to $40.00 in a report on Wednesday, April 9th. UBS Group increased their price target on Keurig Dr Pepper from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. increased their price target on Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Royal Bank of Canada restated an "outperform" rating and set a $42.00 target price on shares of Keurig Dr Pepper in a research report on Tuesday, April 22nd. Finally, Barclays upped their target price on Keurig Dr Pepper from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $39.33.
Read Our Latest Stock Analysis on Keurig Dr Pepper
Keurig Dr Pepper Stock Performance
NASDAQ KDP opened at $33.59 on Thursday. The company has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $33.03. Keurig Dr Pepper Inc. has a 12-month low of $30.12 and a 12-month high of $38.28. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 0.50. The company has a market cap of $45.62 billion, a P/E ratio of 20.36, a PEG ratio of 2.42 and a beta of 0.52.
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, beating analysts' consensus estimates 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 firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the firm earned $0.38 earnings per share. The business's quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current fiscal year.
Keurig Dr Pepper Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.74%. Keurig Dr Pepper's dividend payout ratio is currently 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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