Northern Trust Corp Acquires 2,320,614 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

Northern Trust Corp raised its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 20.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,598,633 shares of the company's stock after acquiring an additional 2,320,614 shares during the period. Northern Trust Corp owned approximately 1.00% of Keurig Dr Pepper worth $436,788,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Keurig Dr Pepper by 15.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 721,070 shares of the company's stock valued at $23,161,000 after purchasing an additional 95,409 shares during the period. Tudor Investment Corp ET AL grew its holdings in shares of Keurig Dr Pepper by 10.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 17,362 shares of the company's stock valued at $558,000 after buying an additional 1,597 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Keurig Dr Pepper by 0.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 143,485 shares of the company's stock valued at $4,609,000 after buying an additional 1,268 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in Keurig Dr Pepper by 14.7% during the 4th quarter. Coldstream Capital Management Inc. now owns 10,288 shares of the company's stock worth $330,000 after buying an additional 1,316 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Keurig Dr Pepper by 6.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 13,087 shares of the company's stock worth $420,000 after acquiring an additional 801 shares in the last quarter. Institutional investors and hedge funds own 93.99% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KDP shares. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Keurig Dr Pepper in a research report on Tuesday, February 25th. Barclays lifted their price target on shares of Keurig Dr Pepper from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. UBS Group upped their price target on shares of Keurig Dr Pepper from $40.00 to $42.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Piper Sandler raised shares of Keurig Dr Pepper from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $35.00 to $40.00 in a research report on Wednesday, April 9th. Finally, Hsbc Global Res raised shares of Keurig Dr Pepper from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Four research 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 data from MarketBeat, Keurig Dr Pepper presently has a consensus rating of "Moderate Buy" and an average price target of $39.33.

Keurig Dr Pepper Stock Up 1.1 %

Shares of Keurig Dr Pepper stock traded up $0.37 on Friday, reaching $34.41. 38,558,939 shares of the company were exchanged, compared to its average volume of 10,209,052. Keurig Dr Pepper Inc. has a one year low of $30.12 and a one year 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 50-day moving average of $34.17 and a 200 day moving average of $33.15. The company has a market capitalization of $46.73 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.42 and a beta of 0.54.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last posted its quarterly 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 firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The company's quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Keurig Dr Pepper Inc. will post 1.92 earnings per share for the current year.

Keurig Dr Pepper Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, March 28th. Keurig Dr Pepper's payout ratio is currently 83.64%.

Insiders Place Their Bets

In other Keurig Dr Pepper news, VP Angela A. Stephens sold 7,350 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $34.17, for a total value of $251,149.50. Following the transaction, the vice president now directly owns 74,587 shares of the company's stock, valued at $2,548,637.79. This represents a 8.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bevco B.V. Jab sold 83,950,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $32.65, for a total transaction of $2,740,967,500.00. Following the sale, the insider now owns 134,113,479 shares of the company's stock, valued at $4,378,805,089.35. This trade represents a 38.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,837,350 shares of company stock valued at $2,771,297,650 over the last 90 days. 1.00% of the stock is currently owned by insiders.

About Keurig Dr Pepper

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.