Riverchase Wealth Management LLC Invests $698,000 in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Riverchase Wealth Management LLC purchased a new position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 21,740 shares of the company's stock, valued at approximately $698,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KDP. Vanguard Group Inc. raised its holdings in shares of Keurig Dr Pepper by 23.6% during the fourth quarter. Vanguard Group Inc. now owns 119,587,162 shares of the company's stock valued at $3,841,140,000 after acquiring an additional 22,856,757 shares in the last quarter. Norges Bank bought a new position in shares of Keurig Dr Pepper during the fourth quarter valued at $197,819,000. State Street Corp raised its holdings in Keurig Dr Pepper by 10.9% in the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company's stock worth $1,908,289,000 after acquiring an additional 4,970,467 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Keurig Dr Pepper by 32.3% during the fourth quarter. JPMorgan Chase & Co. now owns 18,685,837 shares of the company's stock valued at $600,189,000 after purchasing an additional 4,562,128 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Keurig Dr Pepper by 394.3% in the third quarter. National Bank of Canada FI now owns 2,452,200 shares of the company's stock worth $91,908,000 after buying an additional 1,956,138 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KDP has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. JPMorgan Chase & Co. upped their target price on shares of Keurig Dr Pepper from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. UBS Group reissued a "buy" rating on shares of Keurig Dr Pepper in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft raised Keurig Dr Pepper from a "hold" rating to a "buy" rating and upped their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, December 12th. Finally, TD Cowen decreased their target price on Keurig Dr Pepper from $39.00 to $36.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Keurig Dr Pepper currently has an average rating of "Moderate Buy" and a consensus target price of $38.38.

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Insiders Place Their Bets

In other Keurig Dr Pepper news, insider Mary Beth Denooyer sold 12,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $33.39, for a total transaction of $400,680.00. Following the transaction, the insider now directly owns 178,511 shares of the company's stock, valued at $5,960,482.29. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Robert James Gamgort sold 416,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $34.29, for a total transaction of $14,264,640.00. Following the transaction, the chairman now owns 3,237,066 shares of the company's stock, valued at approximately $110,998,993.14. This trade represents a 11.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,397,350 shares of company stock valued at $2,756,292,570. 1.00% of the stock is owned by insiders.

Keurig Dr Pepper Trading Up 1.6 %

Shares of Keurig Dr Pepper stock traded up $0.55 on Tuesday, hitting $34.77. 6,868,566 shares of the company traded hands, compared to its average volume of 9,627,891. 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 $47.17 billion, a PE ratio of 21.08, a PEG ratio of 2.42 and a beta of 0.62. The stock's 50 day moving average price is $32.77 and its 200-day moving average price is $33.50. Keurig Dr Pepper Inc. has a 52 week low of $30.12 and a 52 week high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.01 billion. Keurig Dr Pepper had a return on equity of 10.45% and a net margin of 15.04%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, March 28th. Keurig Dr Pepper's dividend payout ratio is presently 87.62%.

Keurig Dr Pepper Company Profile

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.