Zions Bancorporation National Association UT acquired a new position in shares of Keurig Dr Pepper, Inc (NASDAQ:KDP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,571 shares of the company's stock, valued at approximately $807,000.
A number of other hedge funds also recently made changes to their positions in the stock. Citigroup Inc. raised its stake in shares of Keurig Dr Pepper by 107.6% during the first quarter. Citigroup Inc. now owns 1,965,894 shares of the company's stock valued at $67,273,000 after acquiring an additional 1,019,079 shares during the last quarter. Swiss National Bank grew its holdings in Keurig Dr Pepper by 5.5% in the first quarter. Swiss National Bank now owns 3,436,971 shares of the company's stock worth $117,613,000 after purchasing an additional 180,671 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Keurig Dr Pepper by 17.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,259,322 shares of the company's stock worth $77,314,000 after buying an additional 342,767 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Keurig Dr Pepper by 41.4% in the first quarter. Headlands Technologies LLC now owns 202,578 shares of the company's stock worth $6,932,000 after buying an additional 59,330 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Keurig Dr Pepper by 8.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,139,382 shares of the company's stock valued at $244,310,000 after purchasing an additional 530,753 shares during the period. 93.99% of the stock is owned by institutional investors.
Keurig Dr Pepper Trading Up 1.5%
Shares of Keurig Dr Pepper stock opened at $34.42 on Friday. The firm has a fifty day moving average price of $33.31 and a 200 day moving average price of $33.43. Keurig Dr Pepper, Inc has a 1 year low of $30.12 and a 1 year high of $38.28. The stock has a market cap of $46.76 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.51 and a beta of 0.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.64 and a quick ratio of 0.40.
Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.49. Keurig Dr Pepper had a net margin of 9.75% and a return on equity of 11.05%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Keurig Dr Pepper, Inc will post 1.92 earnings per share for the current year.
Keurig Dr Pepper Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.7%. Keurig Dr Pepper's dividend payout ratio is 82.14%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. HSBC upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and increased their price target for the stock from $36.00 to $42.00 in a research report on Friday, April 25th. Barclays increased their price objective on shares of Keurig Dr Pepper from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Argus assumed coverage on shares of Keurig Dr Pepper in a research report on Wednesday, April 16th. They set a "buy" rating and a $40.00 price objective for the company. Hsbc Global Res upgraded shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased 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 report on Thursday, July 17th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $39.77.
Get Our Latest Stock Report on KDP
Insider Buying and Selling
In other news, Director De Ven Michael G. Van purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were purchased at an average cost of $33.20 per share, with a total value of $498,000.00. Following the completion of the acquisition, the director owned 15,000 shares of the company's stock, valued at approximately $498,000. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert James Gamgort sold 208,000 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $32.90, for a total transaction of $6,843,200.00. Following the transaction, the director owned 2,292,169 shares of the company's stock, valued at $75,412,360.10. This represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 672,000 shares of company stock valued at $22,235,760. Corporate insiders own 0.40% of the company's stock.
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.
Further Reading
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