Jennison Associates LLC raised its holdings in shares of Keurig Dr Pepper Inc (NYSE:KDP) by 83.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 863,468 shares of the company’s stock after purchasing an additional 391,603 shares during the quarter. Jennison Associates LLC owned 0.06% of Keurig Dr Pepper worth $24,151,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Keurig Dr Pepper by 39.2% during the fourth quarter. FMR LLC now owns 27,592,939 shares of the company’s stock valued at $707,483,000 after buying an additional 7,777,020 shares during the last quarter. Vanguard Group Inc purchased a new position in Keurig Dr Pepper in the third quarter worth $388,634,000. Cedar Rock Capital Ltd. increased its position in shares of Keurig Dr Pepper by 3.9% during the fourth quarter. Cedar Rock Capital Ltd. now owns 10,872,101 shares of the company’s stock worth $278,761,000 after purchasing an additional 403,117 shares in the last quarter. Bank of America Corp DE increased its position in shares of Keurig Dr Pepper by 2,892.9% during the fourth quarter. Bank of America Corp DE now owns 10,570,613 shares of the company’s stock worth $271,031,000 after purchasing an additional 10,217,429 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Keurig Dr Pepper by 1.5% during the 1st quarter. JPMorgan Chase & Co. now owns 6,141,313 shares of the company’s stock valued at $171,773,000 after purchasing an additional 87,790 shares during the last quarter. Institutional investors and hedge funds own 14.27% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised Keurig Dr Pepper from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Wednesday, June 19th. BMO Capital Markets raised their price target on Keurig Dr Pepper from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Friday, May 10th. Morgan Stanley downgraded Keurig Dr Pepper from an “equal weight” rating to an “underweight” rating and set a $27.30 price target for the company. in a report on Thursday, April 11th. Finally, Barclays reissued a “buy” rating and issued a $31.00 price target on shares of Keurig Dr Pepper in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.95.
Keurig Dr Pepper (NYSE:KDP) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Keurig Dr Pepper had a return on equity of 8.95% and a net margin of 9.39%. The firm’s quarterly revenue was up 164.1% on a year-over-year basis. Research analysts predict that Keurig Dr Pepper Inc will post 1.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, July 3rd. Keurig Dr Pepper’s dividend payout ratio (DPR) is presently 57.69%.
In related news, Director Robert S. Singer acquired 2,000 shares of the stock in a transaction on Friday, May 24th. The shares were bought at an average price of $28.98 per share, with a total value of $57,960.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings B.V. Maple sold 52,902,300 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $27.77, for a total value of $1,469,096,871.00. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.
Keurig Dr Pepper Company Profile
Keurig Dr Pepper Inc operates as a beverage company in the United States and internationally. It operates through four segments: Beverage Concentrates, Packaged Beverages, Latin America Beverages, and Coffee Systems. The Beverage Concentrates segment manufactures and sells beverage concentrates. This segment also manufactures beverage concentrates into syrup.
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