Fmr LLC Purchases 9,105,164 Shares of Keurig Dr Pepper Inc. (NASDAQ:KDP)

FMR LLC grew its holdings in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 9.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,183,144 shares of the company's stock after buying an additional 9,105,164 shares during the quarter. FMR LLC owned 7.53% of Keurig Dr Pepper worth $3,829,824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Keurig Dr Pepper by 5.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company's stock worth $574,146,000 after buying an additional 730,297 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Keurig Dr Pepper by 2.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company's stock worth $445,648,000 after buying an additional 317,837 shares during the period. Legal & General Group Plc lifted its position in shares of Keurig Dr Pepper by 6.5% in the 2nd quarter. Legal & General Group Plc now owns 9,971,838 shares of the company's stock valued at $333,057,000 after acquiring an additional 609,857 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Keurig Dr Pepper by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 7,130,632 shares of the company's stock valued at $238,163,000 after buying an additional 171,036 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Keurig Dr Pepper by 41.8% in the second quarter. Dimensional Fund Advisors LP now owns 6,373,362 shares of the company's stock worth $212,901,000 after purchasing an additional 1,878,597 shares in the last quarter. Institutional investors own 85.23% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of Keurig Dr Pepper stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $32.65, for a total transaction of $2,252,850,000.00. Following the completion of the transaction, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This trade represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Keurig Dr Pepper Stock Down 0.5 %

Shares of NASDAQ:KDP traded down $0.17 during mid-day trading on Tuesday, reaching $32.68. 5,711,306 shares of the stock were exchanged, compared to its average volume of 9,270,437. The company has a market cap of $44.33 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.52 and a beta of 0.63. The stock's 50 day simple moving average is $35.11 and its 200-day simple moving average is $34.71. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 0.50. Keurig Dr Pepper Inc. has a one year low of $28.61 and a one year high of $38.28.

Keurig Dr Pepper (NASDAQ:KDP - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. Keurig Dr Pepper had a net margin of 15.04% and a return on equity of 10.45%. The business had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Keurig Dr Pepper Inc. will post 1.92 EPS for the current year.

Keurig Dr Pepper Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a dividend of $0.23 per share. The ex-dividend date was Friday, September 27th. This is a boost from Keurig Dr Pepper's previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.82%. Keurig Dr Pepper's dividend payout ratio is 55.76%.

Analyst Ratings Changes

KDP has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on Keurig Dr Pepper from $41.00 to $40.00 and set an "overweight" rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada raised their price objective on shares of Keurig Dr Pepper from $41.00 to $42.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. TD Cowen raised their price objective on Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a "hold" rating in a research report on Thursday, September 26th. Evercore ISI raised shares of Keurig Dr Pepper to a "hold" rating in a research note on Thursday, September 5th. Finally, Barclays reduced their target price on Keurig Dr Pepper from $41.00 to $39.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.36.

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.