Franklin Resources Inc. Raises Stock Holdings in Keurig Dr Pepper Inc. (NASDAQ:KDP)

Franklin Resources Inc. raised its position in shares of Keurig Dr Pepper Inc. (NASDAQ:KDP - Free Report) by 7.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 622,252 shares of the company's stock after purchasing an additional 41,466 shares during the period. Franklin Resources Inc.'s holdings in Keurig Dr Pepper were worth $22,806,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KDP. FMR LLC grew its stake in shares of Keurig Dr Pepper by 9.8% during the third quarter. FMR LLC now owns 102,183,144 shares of the company's stock valued at $3,829,824,000 after buying an additional 9,105,164 shares during the last quarter. State Street Corp boosted its holdings in Keurig Dr Pepper by 10.9% during the 3rd quarter. State Street Corp now owns 50,609,224 shares of the company's stock valued at $1,908,289,000 after acquiring an additional 4,970,467 shares during the period. Geode Capital Management LLC grew its position in Keurig Dr Pepper by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 22,548,844 shares of the company's stock worth $841,886,000 after acquiring an additional 591,316 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Keurig Dr Pepper by 5.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,318,743 shares of the company's stock worth $574,146,000 after acquiring an additional 730,297 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Keurig Dr Pepper by 2.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,342,765 shares of the company's stock valued at $445,648,000 after purchasing an additional 317,837 shares during the last quarter. Institutional investors own 93.99% of the company's stock.

Insider Transactions at Keurig Dr Pepper

In related news, major shareholder Bevco B.V. Jab sold 69,000,000 shares of the company's stock in a transaction on 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 sale, the insider now owns 214,443,879 shares in the company, valued at approximately $7,001,592,649.35. This represents a 24.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

Keurig Dr Pepper Stock Down 0.1 %

NASDAQ KDP traded down $0.03 during mid-day trading on Friday, reaching $32.37. The stock had a trading volume of 24,740,072 shares, compared to its average volume of 9,391,974. The company has a fifty day moving average price of $33.60 and a 200 day moving average price of $34.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.53 and a quick ratio of 0.36. Keurig Dr Pepper Inc. has a 1 year low of $28.61 and a 1 year high of $38.28. The stock has a market cap of $43.91 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61.

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

Keurig Dr Pepper Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, January 3rd. Keurig Dr Pepper's payout ratio is presently 55.76%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KDP shares. Wells Fargo & Company cut their target price on shares of Keurig Dr Pepper from $43.00 to $42.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. Jefferies Financial Group decreased their price objective on shares of Keurig Dr Pepper from $42.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. TD Cowen increased their target price on shares of Keurig Dr Pepper from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Keurig Dr Pepper from a "hold" rating to a "buy" rating and lifted their price target for the company from $37.00 to $39.00 in a report on Thursday, December 12th. Finally, Evercore ISI raised Keurig Dr Pepper to a "hold" rating in a research report on Thursday, September 5th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

Keurig Dr Pepper 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.